Tag: defined benefit plan

Defined benefit retirement plan

How to Know When Your Defined Benefit Plan Is Ready to Prepare for Termination

By Jane Meacham, Contributing Editor Jun 4, 2019 Benefits and Compensation

Updated: Jun 4, 2019

Employer-sponsored private-sector defined benefit (DB) plans have been on the decline for many years as U.S. employers have shifted to defined contribution (DC) retirement plans. Just 17% of private-sector employees had only a DB plan or both a DB and DC plan as of March 2018, according to the Bureau of Labor Statistics (BLS). Meanwhile, […]

What Employers Need to Know When Employees Seek Loans, Withdrawals from Retirement Plans

By New Hampshire Employment Law Letter Dec 4, 2009 HR Hero Line

Updated: Dec 4, 2009

by Douglas R. Chamberlain When facing financial difficulties, employees often look to their retirement plans as a possible source of needed funds. Many plans offer participant loans or permanent withdrawals, the latter generally on a hardship basis. However, plan loans and withdrawals can jeopardize the employee’s retirement benefits, and both are subject to complex rules […]