Defined Benefit Pension Plans: Freezing, Trimming, or Terminating DB Plans and Other Options for Plan Sponsors
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE webinar will provide employee benefits counsel guidance on the ins and outs of freezing, modifying, or terminating defined benefit plans (DB plans) and other available options to reduce the costs and risk factors of DB plans. The panel will discuss a variety of options to reduce the administrative costs and risks associated with DB plans. The panel will provide insight into freezing plan participation and benefit accruals, plan mergers, de-risking strategies, plan termination, and other alternatives for sponsors.
Outline
- Overview of DB plans and challenges
- Plan mergers
- Freezing plan participation and benefit accruals
- De-risking strategies
- Plan termination and post-termination filings
Benefits
The panel will discuss these and other key issues:
- What are the administrative challenges stemming from DB plans?
- What are the ins and outs of plan mergers as an alternative to a DB plan?
- What are the available de-risking strategies to reduce the cost of funding benefits under a DB plan?
- What are the necessary steps and pitfalls to avoid for plan termination?
Faculty
Mark Carolan
Of Counsel
Groom Law Group
Mr. Carolan practices in the employee benefits and tax areas, focusing primarily on Title II of ERISA. Mark’s... | Read More
Mr. Carolan practices in the employee benefits and tax areas, focusing primarily on Title II of ERISA. Mark’s work covers all types of employee benefit plans, including qualified plans, non-qualified deferred compensation plans, and governmental plans.
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Elizabeth Drake
Principal | Co-Chair, Women's Initiative
Groom Law Group
Ms. Drake is a principal in the firm’s Plan Sponsor group. Her practice covers Employee Retirement Income... | Read More
Ms. Drake is a principal in the firm’s Plan Sponsor group. Her practice covers Employee Retirement Income Security Act (“ERISA”) and tax requirements applicable to retirement plans and non-qualified arrangements, health and welfare benefits and fringe benefit programs. Her practice has focused on counseling and advocacy work on behalf of large plan sponsors on complex and sensitive matters primarily involving their defined benefit pension and 401(k) plans. Ms. Drake's in-depth understanding of the relevant legal requirements and day-to-day administrative issues make her uniquely able to guide clients through the challenges presented by ever-evolving legal requirements and complex administrative and plan document/drafting issues. She is known for helping clients reach practical solutions and handle sensitive matters.
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Meredith B. Golfo
Principal
Slevin & Hart
Ms. Golfo has been with Slevin & Hart for more than 16 years, and her practice focuses on all aspects of... | Read More
Ms. Golfo has been with Slevin & Hart for more than 16 years, and her practice focuses on all aspects of representing multiemployer benefit plans under ERISA. She is located in New York and primarily represents clients of the firm that are located in New York and New Jersey. Ms. Golfo's practice includes the representation of clients in Department of Labor and Internal Revenue Service investigations, drafting plan documents, negotiating prescription and medical contracts and advising trustees on fiduciary responsibility under Title I of ERISA. She also has extensive experience in negotiating investment contracts, including hedge funds, real estate investment trusts and private equity arrangements. Ms. Golfo has counseled defined benefit pension plans regarding the relief provisions under Pension Protection Act of 2006 and the Multiemployer Pension Relief Act of 2014.
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