hands holding clock showing 11th hour as it disintegrates into dust (Photo: Shutterstock)

When the Pension Protection Act (PPA) introduced new pension funding rules in 2006, employers around the country were quietly freezing their defined benefit (DB) plans in preparation for plan termination. Times were good, and the ideal time to end a plan, actuarially speaking, is when investment markets are prospering and interest rates are high. But by the end of the next year, we were in a global financial crisis, and a lot of those intentions were put on hold.

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