Interest rates, which have been at historic lows for many years, are on the rise, resulting in lower lump sum values of plan benefits. This in turn results in a dramatic increase in the number of overfunded plans and the amount of the overfunding.

The effect of interest rate hikes on many retirement plans is not a welcome development, but business owners can take decisive steps to control any adverse consequences.

Harvey is experienced in guiding employers and business owners in properly dealing with overfunding situations in the most tax-efficient manner. 

Two resources he has created for clients and their other professional advisers: 

• Interest Rate Hikes Present Challenge for Fully Funded Pension Plans

• Issues Involving Overfunded Defined Benefit Plans