Introduction For Defined Benefit Pension Plans

Introduction For Defined Benefit Pension Plans

AN INTRODUCTION FOR Defined Benefit Pension Plans

Are you asking the right questions as a fiduciary of a Defined Benefit Pension Plan?

Do you have a plan for your plan? Do you review your plan options every year: keep it going, freeze it, shut it down?

1

Do you know when you will be able to shut it down? Have you identified the cost to shut down your plan or know how you’ll get there?

2

Do you know howmuch it will cost to keep the plan open or to terminate? Have you analyzed your annual costs and forecast the costs at least once a year? Have you looked at ways to reduce cost?

3

4

Considered a TV Window, bundled solution, plan split/merger or annuity purchase?

Have you limited your fiduciary risks? * Do you complete a fiduciary reviewmore than once a year?

5

Do your investment advisor and actuary Communicate more than once a year? * Can they react more quickly than once a year to changes in regulations, interest rates or asset returns? Here at CBIZ Retirement Plan Services (RPS), we can help you answer these questions. That way, you can make an informed decision that is best for your business, while maximizing the benefits of your pension plan and minimizing your costs.

6

*Investment advice offered through CBIZ Investment Advisory Services

Annual Actuarial & Reporting Services

Request & Review Employer >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8

Made with FlippingBook - professional solution for displaying marketing and sales documents online