Method and system for pension liability defeasance
First Claim
1. A method of defeasing the pension liabilities of a business entity as a sponsor of an employee pension plan, comprising:
- a. determining the value of the existing assets and liabilities associated with a pension plan of a transferor business entity;
b. transferring the pension plan, with its associated existing assets and liabilities, from the transferor business entity to a transferee business entity;
c. transferring pension staff employees from the employ of the transferor business entity to the employ of the transferee business entity; and
d. determining whether any shortfalls exist in existing plan assets transferred relative to existing liabilities transferred, and, to the extent that a shortfall is determined to exist, creating additional liabilities of the transferor business entity and corresponding additional assets for the transferee business entity to cover at least part of said shortfall.
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Abstract
A method and system of defeasing the pension liabilities of a business entity as a sponsor of an employee pension plan, comprises determining the value of the existing assets and liabilities associated with a pension plan of a transferor business entity; transferring the pension plan, with its associated existing assets and liabilities, from the transferor business entity to a transferee business entity; transferring pension staff employees from the employ of the transferor business entity to the employ of the transferee business entity; determining whether any shortfalls exist in existing plan assets transferred relative to existing liabilities transferred, and, to the extent that a shortfall is determined to exist, creating additional liabilities to the transferor business entity and corresponding additional assets for the transferee business entity to cover at least part of said shortfall; and securitizing and collateralizing the existing and additional assets and liabilities held by the business entities.
20 Citations
24 Claims
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1. A method of defeasing the pension liabilities of a business entity as a sponsor of an employee pension plan, comprising:
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a. determining the value of the existing assets and liabilities associated with a pension plan of a transferor business entity; b. transferring the pension plan, with its associated existing assets and liabilities, from the transferor business entity to a transferee business entity; c. transferring pension staff employees from the employ of the transferor business entity to the employ of the transferee business entity; and d. determining whether any shortfalls exist in existing plan assets transferred relative to existing liabilities transferred, and, to the extent that a shortfall is determined to exist, creating additional liabilities of the transferor business entity and corresponding additional assets for the transferee business entity to cover at least part of said shortfall. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A computer based system for defeasing the pension liabilities of a business entity as a sponsor of an employee pension plan, comprising:
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a. programmed instructions for determining the value of the existing assets and liabilities associated with a pension plan of a transferor business entity; b. programmed instructions for transferring the pension plan, with its associated existing assets and liabilities, from the transferor business entity to a transferee business entity; c. programmed instructions for transferring pension staff employees from the employ of the transferor business entity to the employ of the transferee business entity; and d. programmed instructions for determining whether any shortfalls exist in existing plan assets transferred relative to existing liabilities transferred, and, to the extent that a shortfall is determined to exist, for creating additional liabilities of the transferor business entity and corresponding additional assets for the transferee business entity to cover at least part of said shortfall. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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Specification