...this service audits the pension benefits payable upon termination of employment prior to retirement!

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• Benefits must become vested at least as rapidly as:
  • (1) 100% after 5 years of service (5 year cliff vesting), or
  • (2) 20% after 3 years of service plus 20% for each subsequent year (7 year graded vesting).
• The accrual of benefits is coordinated with the vesting rules to prohibit "backloading", which defers the accrual of greater benefits to later years of service.  A benefit formula must meet one of three technical rules to avoid backloading:
  • 3 Percent Rule,
  • 133 & 1/3 Percent Rule, or
  • Fractional Rule
• After termination of employment, vested benefits which have an actuarial present value (determined under mandated assumptions) of less  than $5,000 can be automatically cashed-out without the participant's consent.
• Subsequent to termination, a vested participant must be given written notification of the amount of the accrued benefit, the payment provisions, and certain rights under ERISA.
• A participant who terminates employment subsequent to meeting the service requirement for early retirement but before the age requirement must be allowed to commence benefits upon meeting the age requirement.

Whether you voluntarily terminated your employment, were a part of a lay-off due to recession or downsizing, or experienced a wrongful termination, whatever the reason, our service can ensure that you receive the all benefits due you.  If you completed 5 years of service and your employer sponsored a pension plan, you may be due a deferred vested benefit or your benefit may be payable immediately.  Either way, it is important to quickly identify any errors or discrepancies in the calculation of your accrued benefit. 

Our service provides a detailed review and evaluation of the components that determine your retirement benefit, for example, final average salary, credited service, early retirement factors, and factors that convert your monthly annuity benefit to an optional form of benefit.  This examination is based on the available information including Summary Plan Description (SPD), the Plan Document, and Benefit Calculation provided to you by your Plan Administrator.   Your pension computation is evaluated based on the Actuary's interpretation of the plan provisions, federal pension law (ERISA) and your Employment History Data.

You will receive consultation and a Pension Benefit Evaluation Report which will detail the results of the Actuary's review.