Running off the £2 trillion of UK corporate sector defined benefit liabilities in an efficient and effective fashion is the biggest challenge facing the UK pensions industry. As more and more defined benefit pension schemes start maturing, the trustees running those schemes need to consider what their target end-state will be and the associated journey plan. However, too few trustee boards have well-articulated and robust plans. Determining the target end-state requires a grasp of various disciplines and an ability to work collaboratively with different professional advisers. This paper sets out issues trustees, employers and their advisers can consider when addressing whether their target end state should be low- dependency, buyout or transfer to a superfund. Member outcomes analysis is introduced as a central tool through which to differentiate alternative target end-states. A five-step methodology is set out for deriving an optimal target end-state for a scheme. Also considered are the specific factors impacting stressed schemes, which highlights the importance to trustee boards when considering their Plan B should their employer or scheme ever become stressed. The paper ends with specific recommendations for the actuarial profession and The Pensions Regulator to take forward.