Plan Termination


Mergers and acquisitions, business closures, dwindling assets, or any number of reasons may be a deciding factor for terminating a retirement plan. The ASI Plan Termination Service complements the fiduciary responsibilities of plan sponsors who are in the process of terminating or may soon terminate their retirement plan. We make ourselves readily available to the qualified terminating administrator (be it Plan Administrator, attorney or actuary) throughout the entire process.

A key advantage of using the ASI Plan Termination Service is that we call to action our Master Annuity Contracts. These unique contracts work in favor of a plan's Retired Participants, Active Vested Employees, and Terminated Vested Employees providing the ability to select a quality product without bias.

Please keep in mind that Annuity Services, Inc. works exclusively with superior insurance companies who have shown to be committed to this specialized market.

Annuity Services takes several factors into consideration before we will pursue an annuity placement with an insurance company:

  • ASI analyzes the ratings provided by the major rating companies such as AM Best, Fitch, Moody's and Standard and Poor's Corporation.
  • An insurance company must also have the proven capability to administer the program.
  • Our analysis of insurance companies is meant to assist in the selection of annuity provider, but that decision ultimately falls upon the plan sponsor or participant.

The Process:

  1. Once engaged, ASI will request a copy of the plan document and review it for any specific plan provisions that must be included in the annuities.
  2. ASI requests quotations from the annuity market for the three categories of employees. (Retired Participants, Active Vested Employees, and Terminated Vested Participants).
  3. After the annuity quotations are received, ASI reviews each quotation for correctness prior to submitting our non-bias quotation summary back to the plan sponsor.
  4. Carriers are selected, funds are transferred, and annuity certificates are issued.

Because we are committed to value, ASI remains vigilant and available to you throughout this process in order to ensure a timely receipt of a top quality annuity product.

ASI specializes in fixed annuities only. The risks associated with other annuity products do not fit into our business model.

Contact Annuity Services, Inc. today for your free quote.