Defined Benefit & Cash Balance Actuarial Services

We have the in-house team to analyze your options, whether you are a professional looking to increase tax deductions, or a corporation with a struggling DB Plan.

Although the majority of the plans we design and administer are Defined Contribution Plans, Pollard has been servicing Defined Benefit Plans since the passage of ERISA in 1974, and Cash Balance Plans increasingly over the last fifteen years.  We currently administer and actuarially certify approximately 150 Defined Benefit/Cash Balance Plans.

Defined Benefit/Cash Balance Administration

Pollard provides defined benefit and cash balance plan administration and actuarial plan design services. Pollard’s defined benefit clients receive the same annual administrative services as our defined contribution clients, plus the following:

  • Annual actuarial valuation
  • Consultation with clients to modify plan design and/or strategize funding options in years of increased/decreased income
  • Actuarial certification of Form 5500 Schedule SB
  • Determination of minimum required and maximum deductible contributions
  • Annual benefit calculation statements
  • Calculation of participant benefits at termination of employment or retirement
  • Preparation of required Pension Benefit Guarantee Corporation (PBGC) forms and filings
  • ASC 715 Disclosures
  • Benefit calculations for Qualified Domestic Relations Orders (QDROs)
  • Non-discrimination testing for Combo DB/DC plans

Defined Benefit Plan Termination Feasibility Services

Pollard has worked with many Plan Sponsors of frozen DB Plans, which remain in place only because of their underfunded positions.  We have provided services to those clients who are looking for a timeline and strategy to minimize their costs and formally terminate their plans, including:

  • Actuarial studies to value plan termination liabilities, including estimated annuity costs
  • Strategies to reduce benefit liabilities and PBGC premium costs, if immediate plan termination is not possible
  • Preparation of participant notices, plan amendments & board resolutions to formally terminate the plan
  • Assistance with selecting annuity vendors
  • Preparation of IRS & PBGC termination applications
  • Preparation of participant termination benefit statements & election forms
  • And any other necessary services to fully terminate the Plan

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