Sentences with phrase «plan termination»
"Plan termination" refers to the process of ending or shutting down a plan or project. It typically involves ceasing all activities, ending any contracts or agreements, and resolving any remaining obligations or financial matters. Full definition
Plans subject to the Multiemployer Pension Plan Amendments Act of 1980 (MPPAA) assess withdrawal liability against an employer for its allocable share of the plan's unfunded vested benefits upon a complete or partial withdrawal of the employer from the multiemployer plan, rather than on plan termination.
pbgc.gov
This book describes the motives of all of the parties in DB pension issues very well, and why they tend to lead to DB plan terminations.
Streamlined the calculation of plan termination process by drastically reducing the all - day job to a three - hour procedure through automation and advanced excel programming.
Greg will provide a clear framework in order to plan termination as well as present concrete strategies and activities to support it being a positive process.
Many pension plans face almost impossible odds of catching up, raising the odds significantly of more plan terminations, where the two main losers are healthy defined benefit plans, who will have to pay higher amounts for PBGC coverage, and pensioners with high benefits, because those benefits will be cut.
Public sector DB plans: Taxes may rise, spending cuts enacted, forced contributions to retiree plans negotiated, plans terminated for a 457 plan, partial plan termination, job cuts, funny accounting practices (worse than the private sphere), brinksmanship over debts, etc..
See PBGC - Initiated Terminations and Plan Termination Fact Sheet for more information.
Counsel to retirement committees and / or pension fund trustees, particularly in the context of pension plan terminations.
«In conclusion, it is Freedom's view that it would not be in consumers» interests to remove the caps on service plan terminations, or to re-introduce three year contracts.
This book describes the motives of all of the parties in DB pension issues very well, and why they tend to lead to DB plan terminations.
Small business 401k plan terminations can happen for reasons other than going - out - of - business or a business sale.
Can not take withdrawals from plan until a «trigger» event occurs, such as termination of service or plan termination.
Can not take withdrawals from the plan until a «trigger» event occurs, such as turning age 59 1/2, disability, and / or plan termination
We have helped numerous small and large pension clients go through the plan termination process and would like to provide a few recommendations that can help improve the overall experience.
Queens residents will be able to meet one - on - one with MOIA representatives between 10:00 AM — 6:00 PM on those days and confidentially discuss their immigration - related issues, including possible enforcement actions and the planned termination of DACA, a federal initiative that has protected 800,000 undocumented immigrants nationwide from deportation who were brought to the United States as children.
Can not take withdrawals from plan until a «trigger» event occurs, such as termination of service or plan termination.
If cash flow draws down to a point where business operations are no longer sustainable and an external capital infusion is no longer feasible to maintain operations, then a planned termination of operations and a liquidation of all assets are sometimes the best options to limit any further losses.
Can not take withdrawals from the plan until a «trigger» event occurs, such as turning age 59 1/2, disability, and / or plan termination
Notify employees of the plan termination, allowing them to elect a lump sum or to participate in the annuity if this is an option.
If your plan ends (this is called «plan termination») without sufficient money to pay all benefits, PBGC's insurance program will pay you the benefit provided by your pension plan up to the limits set by law.
Pension Dumping (5 Stars) This book describes the motives of all of the parties in DB pension issues very well, and why they tend to lead to DB plan terminations.
Plan termination is a separate event from filing for bankruptcy.
PBGC guarantees USERRA benefits, up to legal limits, even if the participant is reemployed after the plan termination date or bankruptcy filing date (to learn which date applies, see «Are there any special rules if my plan ends in bankruptcy?»
However, PBGC does not permit such changes after the plan termination date.
For a PBGC - trusteed single - employer plan, Due and Unpaid Employer Contributions (DUEC) are the unpaid amount of minimum funding contributions, with appropriate interest, that was due to the plan for the period before the plan termination date.
Generally, the maximum guarantee for a single - employer defined benefit plan is fixed as of the plan termination date.
Estimated Benefit (for Single - Employer Plans only)- For a PBGC - trusteed single - employer plan, benefit payments made by PBGC or a plan administrator on or after the plan termination date and before PBGC determines the final benefit amount.
PBGC normally pays a lump sum only if the total value of the benefit payable by PBGC is $ 5,000 or less at the plan termination date.
PBGC uses the plan termination date when calculating the present value of pension benefits owed to participants in a PBGC - trusteed single - employer plan.
PBGC uses an expected retirement date for future payments to start if they have not already started by the plan termination date.
Plan Termination Date (or Date of Plan Termination)- The date a single - employer defined benefit plan ends.
PBGC's single - employer plan guarantee applies only to benefits earned on or before the plan termination date or the bankruptcy filing date, as applicable.
For single - employer plans, PBGC guarantees a participant's disability benefit, subject to legal limits, if the participant's plan provides such a benefit and the participant became entitled to that benefit on or before the plan termination date or the bankruptcy filing date, as applicable.
However, USERRA benefits stop accruing on the plan termination date.
For participants already retired, the maximum guaranteed benefit is based, in part, on the retiree's age on the plan termination date or bankruptcy filing date, as applicable.
Majority Owner - Generally, a person who, within the five - year period before the plan termination date:
For single - employer plans, the limit applies to new benefits and benefit increases added to the plan less than five years before the plan termination date or the bankruptcy filing date, as applicable.
Imagine that your employer hired a team of lawyers months ago to plan your termination.
Coverage is automatically extended if the insured is hospitalized on the plan termination date for up to 31 days.
The plan terminations will begin March 1, and will be effective as of the plan renewal date - so if your grandfathered Humana plan has a renewal date of August 1, you can keep your plan through the end of July.
I received a letter on my door regrading a plan termination taking place and my landlord no longer owns the unit.