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Difference between Settlement and Curtailment in Pension Plan?
On occasion, an employer may end a pension plan. When a plan is ended, it is a pension plan settlement; the obligation to the pensionable group is settled by transferring assets to a trustee, and any deficiencies in funding are remedied.If the settlement is partial, which means the pension plan continues but a company decides to down-size the company which results in lay off employees, this is called curtailment.Gains and losses that arise from settlement or curtailment are not subject to amortization. Settlements relate to employees who are no longer with the company and Average Remaining Service Period (ARSP) is zero, gains and losses are recognized immediately.
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QuestionContinental Can in Toronto, Ontario Canada. who is administering the pension plan?Answer
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Who do you contact about Strawbridge and Clothier pension plan?
For Social Security pension, you must be of the proper age, which is dependent on when you were born. For a company pension plan, contact
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As of 2021, the Ontario Teachers' Pension Plan has approximately 329,000 active and retired members.
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If you worked for Chevron in the 70s, is there a pension plan available for former employees If so, how do I obtain information?
Yes, Chevron does offer a pension plan for former employees. To obtain information on your specific pension plan, contact Chevron's benefits or human resources department. They will be able to provide details on your pension benefits, eligibility criteria, and how to access your pension plan.
