This Employee Benefit Plan Audit Quality Center (EBPAQC) advisory provides plan sponsors, administrators or trustees with an understanding of partial plan terminations under the Employee Retirement Income Security Act of 1974 (ERISA) and their related responsibilities.
The plan advisory describes:
a partial plan termination
discusses the plan administrators' fiduciary responsibilities related to partial plan terminations, the consequences of a partial plan termination, and rebutting the presumption of a partial plan termination
provides suggestions for best practices for evaluating partial plan