Accelerating the closure of terminating 401(k) plans creates benefits for record keepers, plan administrators and plan participants. The Keane Organization Retirement Services offers the first comprehensive solution for resolving the complex issues that derail plan terminations--saving time, ensuring compliance, and reducing the adminstrative burden in the process.

An astronomical 20,000-25,000 micro- and small-market 401(k) plans terminate on average every year. This represents roughly six percent of all plans with less than 500 participants. Thousands of these plans somehow get stuck in the termination process, which:

• Decreases record keeper margins and reduces the risk of plan abandonment.
• Costs plan administrators legal counsel fees and man hours while they attempt the difficult task of managing the termination process, which continues until the last dollar is released to participants.
• Separates plan participants from their money.