Healthcare • HR • Employee Benefits
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Retirement & Actuarial Services

Actuarial and Consulting Services

We offer a comprehensive suite of core actuarial services for your defined benefit and post-retirement benefit plans. In addition, we can perform a range of special project services, from Asset Liability Studies to independent, unbiased guidance and analysis on transitioning to a defined contribution plan.

 

 

Core Actuarial Services
Actuarial Valuations

We perform annual actuarial valuations to determine:

  • Annual contribution requirements under the Pension Protection Act
  • FAS 87 accounting expense and year end disclosure
  • FAS 106 accounting expense and annual year end disclosure for post-retirement benefit plans
  • Forecasting of expense and contributions for years beyond the current year (typically 1 - 5 years)

Consulting Services

We offer other recurring services including:

  • Employee statements as required under the Pension Protection Act
  • Individual benefit calculations and estimates
  • Responses to your auditors for Plan and organization financial statements
  • Day-to-day administrative support, whether related to plan interpretation or general operation

Special Projects
Defined Benefit to Defined Contribution Studies

If considering a migration to a defined contribution plan, you want to be sure all assumptions reflect the current environment, and that the objectives of your organization will be met. We can:

  • Assess current versus projected income replacement under the new program
  • Develop - independently, or in conjunction with - your current actuary, projections for ongoing costs under various DB scenarios, and models for alternative DC programs
  • Offer a realistic review of costs and alternatives through a first phase analysis
  • Provide a transition plan that includes actuarial assumptions, systems and processes

Communication Services

We assist clients with communicating benefits effectively online, in person or through printed materials to help employees make better decisions and to improve satisfaction. We produce benefit summary booklets, SPDs, enrollment packages, Podcasts, email blasts on financial considerations, or other customized communication materials. We can also:

  • Develop benefit statements showing accrued and projected benefits for the Plan
  • Produce statements for all current active participants, showing individualized calculations

Non-Qualified Plan Services

We offer a full range of services for non-qualified programs, from design to monitoring the ongoing administration. Plan design financing options we support include book reserve, Rabbi trust or cash payments. We analyze the funding required to meet benefit obligations and can provide cash flow, FAS impact, future liabilities, and annual calculations

Compliance

We monitor your Plan regularly to ensure legal and operational compliance with regulatory requirements. We keep you fully abreast of any changes in funding requirements, accounting standards or government filings. We offer:

  • Nondiscrimination testing for individual plans and controlled groups
  • Preparation of Form 5500 and the Annual Funding Notice for Plan participants
  • Preparation of PBGC premium filings

Asset Liability Studies

Funding determinations and accounting rules are based on market rates, which may not be in sync with the movements in your plan assets. An asset liability study examines the effect of alternative investment allocations on Plan contributions and funding ratios. We can help you better align your retirement Plan's asset allocations with your risk tolerance level and budget. We quantify the risk as it relates to the Plan sponsor (e.g., level of contributions), while considering goals over different time horizons. By bringing liabilities into the equation and reviewing the current asset allocations of the Plan, we can identify attractive investment strategies consistent with Plan sponsor goals and risk tolerance.

Additional Services
Actuarial Services
  • Plan design and funding
  • Provide representation before government agencies (IRS/DOL)
  • Plan termination services
  • Annuity placements
Consulting Services
  • Strategic Benefit Audits - analyze adequacy & completeness of benefits, structure of investments, expenses, administration, etc.
  • Data Audits - identifying gaps, inconsistencies & solutions
  • Plan Integration - streamlining plan design & consolidating administration
  • Process Improvement - identifying opportunities to make better use of technology and staff resources
  • Outsourcing - vendor searches and ongoing contract management