Retirement Security

Audits of Actuarial Work

We are experienced in performing level 1, 2, or 3 type audits for other plans and provide recommendations on the assumptions, methods, or funding policy when necessary.  We also partner with auditing firms across the country to assist with the actuarial review where they may not offer that expertise in-house.

Funding Strategies

We can provide a menu of options for plans looking to strategically address their funding levels. Options can include the following:  

• Formal funding policies written to provide guidance for the plan both currently and on an ongoing basis for future stakeholders 
• Informal funding policies that serve as a guardrail for future plan decisions but without a specific set of conditions to be met that may constrain future plan action
• De-risking strategies for plans looking to lower investment risk either through a more conservative asset allocation or through specific cash flow matching strategies 
• Reviewing long-term projections via dynamic modeling to ensure future plan health. This modeling allows for review of both short and long-term funding implications of plan action

Member Calculations

We have an experienced, dedicated team committed to calculating accurate benefits for members and beneficiaries for all plan types. The benefit calculation team interprets pension plan documents, performs and/or reviews benefit and Qualified Domestic Relations Order (i.e., divorce) calculations, and assists clients in applying suspension, minimum required distributions and actuarial adjustment rules. 

Examples:

• Normal and Early Calculations
• Late Retirement Calculations
• Required Minimum Distribution (RMD) Calculations 
• Deferred Retirement Option Plan (DROP) Calculations 
• Disability Benefits
• Pre and Post-Retirement Death Benefits
• Lump Sum Calculations
• Level Income Calculations
• Over/Underpayments
• Variable Benefit Calculations and QDROs 
• Cost-of-Living Adjustment (COLA) Calculations
• Service Buyback Calculations

We also offer an online platform that allows participants to run benefit calculations in moments.  This platform is fully customizable and provides flexible benefit calculations and estimates that are easily modified (including actuarially adjusted forms of payment.

Pension Consulting

Our consulting team recognizes that each plan has its own unique set of goals and risk tolerances. Whether a plan is looking at increasing benefits or at improving funding, our consultants are experienced in working closely with plans to evaluate a variety of solutions, promoting both participant well-being and long-term plan sustainability, while also incorporating the desired risk tolerance. 

Our guidance is unmatched if your plan is considering a plan merger, spinoff, or termination. We also offer additional services beyond annual pension valuations to help plans understand the current position of the plan as well as its future funding projections. These services include experience studies, future cash flow projections and sensitivity analysis. We have also provided educational materials to plans to help expand knowledge on actuarial concepts that allow for a better understanding of actuarial reporting which in turn contributes to a better managed plan.

Our consulting is not just limited to defined benefit plans.  We can also assist in the design and general operational compliance support related to defined contribution plans, including annuity and 401(k) plans.

Retirement Plan Design

We understand that a traditional plan design may not meet every plan's needs. We work across all retirement plan types to create specialized plan designs that meet both the plan's needs and regulatory requirements.  We also have experience working with plan sponsors to reopen plans that were previously closed to new entrants.