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.
Can you borrow against money from your pension plan?
QuestionContinental Can in Toronto, Ontario Canada. who is administering the pension plan?Answer
I don't mean to be snide...but it depends on whose asking! Honestly, different places define things differently. In some general speak it is a pension plan...but in many others, it is a retirement plan as differentiated from a pension plan.
Cam you put lawsuit settlements into a 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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