Cash Balance Conversion of Pension Plan

Eric Altholz worked with long time client Maine Medical Center to convert its defined benefit pension plan to a cash balance plan. This complex project took many months and included a complete restatement of the plan document, extensive written communications to employees, and both corporate and fiduciary governance processes. Eric worked closely with the hospital’s senior HR staff and in-house counsel, as well as actuaries and consultants at Towers Watson throughout the project.