Читать книгу Auditing Employee Benefit Plans - Josie Hammond - Страница 37

Virtually all plans can be terminated, whether through liquidation or combination. Again, the procedures for these events will be outlined in the plan document. Most defined benefit pension plans face a formal approval process by the Pension Benefit Guaranty Corporation prior to termination. Money purchase pension plans require a participant notice to terminate. Other single employer plans can generally be terminated through the unilateral action of the employer or Plan Administrator. Multiemployer or multiple employer plans may involve other entities in the termination process.