Answers in Defined Benefit Consulting

Defined Benefit (Pension) plans are no longer the primary retirement vehicle in the United States, but for those with access to a corporate pension plan they can provide a valuable stream of retirement income.
5 votes
Sarah Gronvold Level 8
Yes. First, I recommend that you see the Plan Document section entitled “Amendment” that would specify the Plan Sponsor can amend the Plan. As Mike pointed out, It is important to consult with the Plan’s Actuary to see if the change you have in mind ...(more)
3 votes
Mike Kane Level 15
Juanita: You may amend the DB Plan, but you'll likely need some actuarial assistance. David is correct. Most TPA's/Record keepers have actuaries to assist you, although you may run into a couple billable hrs if you are trying to modify your formula to ...(more)
3 votes
If your income changed, your contribution should also change. Defined benefit plans are very complicated, adn the use of pension actuaries would be typical. You should have a TPA (Third Party Administrator) that manages the tax and legal issues associated ...(more)
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