Plan Terminations


Plan Terminations

Plan terminations, though they sound straightforward, often are quite the opposite; it’s not as simple as merely ceasing funding and distributing the plan assets. With a company merger, bankruptcy or executive direction causing an end to a plan, sponsors face a myriad of regulations, laws and guidelines when terminating.

FuturePlan has a dedicated team of actuaries and ERISA experts and attorneys who will create a timeline of steps and manage communication between all parties during a termination. This careful coordination protects sponsors from the downsides of potential missteps during the process and ensures a seamless transition for all parties. We put participants front and center, ensuring their investments are well protected, while reducing workload for sponsors.

Our services include

  • Formal election and establishing a termination date
  • Notifying service providers
  • Updating plan documents
  • Implementing the 100% vesting requirement
  • Addressing remaining forfeitures
  • Completing final nondiscrimination testing
  • Notifying participants
  • Distributing plan assets