Products April 17, 2012
Principal Enhances DB Termination Program
April 17, 2012 (PLANSPONSOR.com) - The Principal Financial
Group updated its defined benefit termination program and released a white
paper.
Reported by Tara Cantore
The
defined benefit termination program
provides resources, education and actuarial consulting to help financial
professionals and their clients walk through the key steps for shutting down a
plan, including:
• Development of a termination strategy by evaluating cost, funding strategies and the impact of asset allocation;
• Effective execution of a Dynamic Asset Allocation Strategy;
• Administration of the plan termination process; and
• Final risk transfer—distribution of assets to settle obligations.
Principal also released a white paper in two parts titled “Best Practices for Executing a Termination Strategy; Winding Down Your Hard-Frozen Defined Benefit Plan.” The first part offers best practices for developing a formalized defined benefit plan exit strategy. Part two, the newer paper in the series, offers best practices for building a termination strategy all the way to the final distribution of participant assets.
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