Great Lakes Pension Associates, Inc.
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Senior Specialist 401k Recordkeeping T Bank N.A.
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Defined Contributions Compliance Consultant Loren D. Stark Company (LDSCO)
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Retirement Planners and Administrators (RPA)
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TPA Retirement Plan Consultant EPIC RPS (TPA/DPS)
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Defined Contribution Account Manager Nova 401(k) Associates
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New York City District Council of Carpenters Benefit Funds
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Pollard & Associates
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Fringe Benefit Group
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Retirement Solutions Specialists
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Greenline Wealth Management
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Financial Statement Issues May Make Plan Terminations Problematic Even for Some Overfunded DB Plans
October Three Consulting May 13, 2019
"When a sponsor terminates an overfunded DB plan and buys annuities to settle plan liabilities ... [1] Plan liabilities may have to be written up, reducing net worth. [2] That write-up typically will have to be run through the income statement, generating a (non-recurring) expense and reducing net income. [3] Unrecognized losses may also have to be run through the income statement.... [4] Any 'pension income' generated by the plan surplus will disappear -- reducing future net income. These financial hits -- particularly for earnings sensitive companies -- may make the cost of terminating an overfunded plan prohibitive."
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