Actuarial

Pension risk transfer and plan termination support

Finbryn supports lump-sum windows, annuity purchases and PBGC standard terminations of single-employer pension plans, preparing benefit data, cost estimates and filing schedules. The plan's enrolled actuary signs the Schedule EA-S sufficiency certification, and Form 500 is due by the earlier of 180 days after the proposed termination date or 60 days before distribution.

What is included

• Benefit data cleanup and missing-participant search list
• Lump-sum and annuity cost estimates under current rates
• Funding shortfall estimate before termination
• PBGC standard termination filing support schedules
• Participant election-period calculations
• A deadline calendar from notice of intent through Form 501

The process

1. 1.

   Scope the plan and gather the records

   Plan document, amendments, participant census, benefit statements, asset report and any prior valuations.

2. 2.

   Clean the benefit data

   Reconcile records, flag gaps and build the missing-participant search list.

3. 3.

   Estimate costs and the funding position

   Lump-sum and annuity cost estimates under current rates, and an estimate of any shortfall before termination.

4. 4.

   Prepare notice and election-period calculations

   Benefit figures for the notices of plan benefits and the election period, for the plan administrator to issue.

5. 5.

   Prepare the Form 500 support schedules

   Data and calculation exhibits laid out for the enrolled actuary's Schedule EA-S.

6. 6.

   The enrolled actuary reviews and signs

   The actuary completes and signs Schedule EA-S, and the plan administrator files Form 500 with PBGC.

7. 7.

   PBGC and the auditor review the filing

   PBGC reviews a complete filing for 60 days. The auditor tests the work. Follow-up data questions run through the plan administrator.

Software

Microsoft Excel, Python

Contact

+1 (312) 313-7376
hello@finbryn.com
finbryn.com
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