Plan Termination Answer Book helps you systematically address each issue that needs to be considered in the plan termination process and comply with the latest regulations, so you can avoid costly mistakes. From determining what options are available when terminating a defined benefit plan with insufficient assets to understanding the tax implications of outstanding loans on terminations, there's simply no other resource like it for busy pension plan professionals.
Among the many topics covered in the Plan Termination Answer Book are the following:
- Various requirements of the different governing agencies
- Qualification areas that must be addressed in a plan termination
- Options for terminating a defined benefit plan with insufficient assets
- Circumstances under which a money purchase plan may be terminated
- Special procedures and rules for terminating a multi-employer plan
- Considerations for partial terminations
- Steps to follow for "distress terminations" and their implications
- Matters concerning plan mergers
- And more!
Starting with an overview of the legal, administrative, and tax requirements for all types of plans, practitioners will find expert advice on:
- When to terminate Alternatives to termination
- How to comply with regulations
- Vesting of participants' benefits
- Implications of multiemployer plans
- And more!
- General Considerations in Terminating a Plan
- Non-PBGC Covered Plans
- Defined Benefit Plans Covered by the PBGC's Plan Termination Insurance Program
- Termination of Multiemployer Plans
- Determination of Benefit Liabilities in a Defined Benefit Plan
- IRS Termination Process
- PBGC Termination Process for Single-Employer Plans
- Surplus Assets in a Defined Benefit Plan
- Distributions from Terminated Plans
- Special Distribution Issues
- Special Plan Termination Issues
- Frozen Plans
- Partial Plan Termination
- Spin-Offs
- Appendices
- Appendix A: 120 Percent of Federal Midterm Rate
- Appendix B: Section 417(e) Interest Rates
- Appendix C: 30 Year Treasury Securities Rates
- Appendix D: Mortality Tables
- Appendix E: Determination of HCEs
- Appendix F: Determination of Key Employees
- Index
Ilene H. Ferenczy, J.D., CPC, APA, is the managing partner of Ferenczy + Paul LLP, an employee benefits law firm with offices in Atlanta, Georgia and Sacramento, California. Ms. Ferenczy advises clients on all types of employee benefit plans, particularly focusing her practice on qualified retirement plans, benefits issues in mergers and acquisitions, and advising third-party administrators of employee benefit programs on technical and practice issues. Having become an attorney after more than ten years as a third-party administrator, she brings a unique and practical approach to her advice. She is a member of the State Bars of Georgia and California, and holds designations as a Certified Pension Consultant from the American Society of Pension Professionals and Actuaries (ASPPA) and Accredited Pension Administrator from the National Institute of Pension Administrators.
She is a nationally known speaker on benefits issues, and has authored more than 70 articles for publications such as the Journal of Pension Benefits (where she is the Co-Editor-in-Chief), the Journal of Taxation of Employee Benefits, and The ASPPA Journal. The 2012-2013 edition of her book, Employee Benefits in Mergers and Acquisitions, an Aspen publication, was released in the fall of 2012. Ms. Ferenczy also authored three textbooks about defined contribution plans for ASPPA's education and examination program, and The Plan Termination Answer Book, now in its fourth edition. In addition to being a frequent live presenter, she has also recorded numerous webcasts and other e-learning tools for several organizations. Ms. Ferenczy is an adjunct professor in the College of Law at Georgia State University in Atlanta, Georgia, and on the Employee Benefits Advisory Board of the John Marshall Law School Center for Tax Law and Employee Benefits in Chicago, Illinois.
Ms. Ferenczy is the first female co-chair of ASPPA's Government Affairs Committee. She works with ASPPA to lobby for favorable pension legislation and workable DOL, IRS, and PBGC guidance in relation to retirement plans, is a member of the Management Team of the organization, and is a former member of the Board of Directors. Ms. Ferenczy is the 2007 recipient of ASPPA's Educator of the Year Award. In 2012, Ms. Ferenczy was elected to membership as a Fellow in the American College of Employee Benefits Counsel, the highest honor awarded to ERISA lawyers.
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