Overview
Attendees will learn the options available to both parties regarding the disposition of their respective plans, and the potential compliance issues when plans are either merged or continued by a buyer that has their own plan. Attendees will learn the options available to both parties regarding the disposition of their respective plans, and the potential compliance issues when plans are either merged or continued by a buyer that has their own plan. From the employees’ perspective we will address the impact on existing benefits for employees of both companies.
Why you should Attend
Attendees will learn the options available to both parties involved in a Merger or Acquisition regarding the disposition of their respective plans, and the potential compliance issues when plans are either merged or continued by a buyer that has their own plan. From the employees’ perspective we will address the impact on existing benefits for employees of both companies. If you are involved in mergers or acquisitions as an advisor, an attorney or in any other capacity this is a must and is often overlooked to the disadvantage of the surviving entity in a merger or the buyer in an acquisition. Although an oversight can be corrected after the fact it is costly to do so and must involve the IRS and potentially the DOL. If too much time has elapsed the surviving plan(s) can be disqualified.
Areas Covered in the Session
- Asset sale
- Stock sale
- Employees of the seller’s plan
- Defects in the seller’s plan
- Missing participants
- Disposition of seller’s plan
- Merging seller’s and buyer’s plans
- Conflicting plan provisions
- Non-discrimination rules
- Underfunded/overfunded defined benefit plan
Who Will Benefit
- Financial Advisors
- Attorneys
- Investment Advisors
- CPAs
Speaker Profile
Stephen Abramson is the President and founding partner of APS Pension Services, LLC established in 1977, a mid-size consulting and actuarial firm employing twenty-two professional and support staff specializing in pension and pension-related services. For over 40 years, APS has been providing closely held businesses with financial services including pension design and administration, business succession planning, and wealth preservation planning. In 2015 APS Investment Management was established to provide fiduciary services to 401(k) and 403(b) plans and in 2018 APS Wealth Management, a Registered Investment Advisor (RIA), was established to provide investment management services to individual clients and retirement plans replacing a previous relationship with a Broker/Dealer.
Steve graduated from Cornell University in 1964, earned the designation of Chartered Life Underwriter in 1967 from the American College, Certified Pension Consultant in 1970 from the American Society of Pension Professionals and Actuaries and Chartered Financial Consultant from the American College in 1972.
Steve has taught professional level education programs for the American Society of Pension Actuaries; lectured to various professional groups, including the National Conference of CPA Practitioners, The NYS Society of CPAs, Nassau Bar Association, the C.W. Post Tax Institute, and the National Institute of Pension Administrators; and conducted continuing education seminars for Certified Public Accountants for the past 35 years.
He is co-author of Plan Smart, Retire Rich published by McGraw Hill in 1998; author of Advisor’s Guide to Qualified Plans originally published by Aspen Publishing in March 2002 and recently updated with the 2021 eighth edition, and Retirement Financial Management for Clients Approaching Retirement published by Aspen Publishing in August 2002. A less technical version of Advisor’s Guide to Qualified Plans entitled Guide to Qualified Retirement Plans: A Plain Language Primer was published by the International Association of Employee Benefits in March 2005. The second edition of this book was released in 2008
Instructor
Stephen Abramson