Interview: Stephen Pavlick, McDermott, Will & Emery
Investment Management Mandate Pipeline
Stephen Pavlick in this interview assessed various issues related to reducing defined benefit plan liabilities. "Most defined benefit sponsors have already implemented either a ‘hard freeze’ (cessation of future accruals for all participants) or a ‘soft freeze’ (no future participants admitted but accruals continue for current participants), and have shifted employees to defined contribution plans,” Mr. Pavlick said. He added that, under current conditions, “most employers believe this is not a good time to effectuate a complete plan termination,” but this could change pending future developments.