Pension plan termination

Helping you successfully navigate all stages of plan terminations

Our focus is on helping you successfully navigate the process at the end of your pension plan, as you benefit from our combined actuarial and investment management expertise.

Experienced in partnering with plan sponsors through termination

You have full access to the expertise we bring through our thorough understanding of the specific requirements of implementing a plan termination. Our consultative approach to managing both the liability and asset sides of the funded status equation has helped countless plan sponsors successfully navigate the entire plan termination journey.  

As part of the termination process, we also routinely sign on as a co-fiduciary with the plan’s fiduciaries in selecting the safest available annuity provider. We have detailed our analysis in a comprehensive report which documents the key criteria in selecting the annuity provider as required by the Department of Labor in their Interpretive Bulletin 95-1 (selecting the safest available annuity provider). You can also access detailed information that we collect regarding each insurer’s on-boarding process, their investment structure, the enterprise risk management structure of the company, and experience and administrative capabilities. 

View report

We partner with you to understand your unique circumstances and help you through your termination process.

Preparation

Preparing for a successful plan termination takes time and effort. You can find out how prepared you are to start your termination journey through our Termination Readiness Assessment, where our team of expertise analyze your entire plan within four critical areas we have identified in helping plan sponsors successfully terminate their plans.

Preparing for a successful plan termination takes time and effort. You can find out how prepared you are to start your termination journey through our Termination Readiness Assessment, where our team of expertise analyze your entire plan within four critical areas we have identified in helping plan sponsors successfully terminate their plans.

Implementation

It is crucial to complete all your regulatory filings, participant notices and numerous deadlines timely and correctly.

Distribution

After an often lengthy implementation process, distributions can be made to the participants that elected termination. For others that choose to remain, the selection of an insurer who will pay annuities, is a critical fiduciary decision.

Speak to our team

Michael Clark

Managing Director & Consulting Actuary

Michael Clark

Managing Director & Consulting Actuary

Michael Clark is a Managing Director and Consulting Actuary in River and Mercantile's Denver office. In his role he consults on all aspects of financial risk management for defined benefit plans as well as retiree medical plans and defined contribution plans. He also has led numerous clients through pension risk transfers as well as other complex, strategic pension projects. Michael leads River and Mercantile’s business in the West as well as Business Development for the US. Prior to joining River and Mercantile in 2013, Michael worked for Mercer as well as October Three. He currently serves as Immediate Past President for the Conference of Consulting Actuaries as well as providing leadership to several committees. He also participates in the leadership of the Western Pension & Benefits Council – Denver Chapter. Michael is a frequent speaker at industry and professional association conferences on the topics of pension risk management and pension plan administration and has had several articles published in major trade magazines. He is a Fellow of the Society of Actuaries, an Enrolled Actuary, a Fellow of the Conference of Consulting Actuaries, and a Member of the American Academy of Actuaries. Michael graduated magna cum laude from Brigham Young University with a BS in Statistics.

Kevin Morrison

Managing Director & Consulting Actuary

Kevin Morrison

Managing Director & Consulting Actuary

Kevin Morrison is a Managing Director in River and Mercantile’s Boston office and leads the US Actuarial Business. As a consulting actuary, Kevin supports clients in all aspects of their retirement programs, including defined benefit, defined contribution, and other post-employment benefit (OPEB) plans. In addition to delivering the recurring annual valuation results and helping clients meet financial reporting requirements under US GAAP, IFRS, and GASB accounting standards, he provides clients with consultative support and cost analysis around plan design, forecasting, de-risking strategies, and plan terminations. Prior to joining River and Mercantile in 2016, Kevin was a consulting actuary with John Hancock Retirement Plan Services and was part of the acquisition of New York Life Retirement Plan Services. Kevin started his actuarial career with Mercer in 2004. Kevin is an Associate of the Society of Actuaries, an Enrolled Actuary under the Joint Board for the Enrollment of Actuaries, and a Member of the American Academy of Actuaries. He received a B.A. in Math and Physics from the College of the Holy Cross.

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