Foster & Foster began in 1979 as an actuarial consulting firm that specialized in municipal pension plans in the State of Florida. Today our expertise has expanded to cover all types of retirement plans throughout the United States. We currently serve:

  • Over 300 public pension plans from across the country, covering both local and state-wide systems with as few as 5 and as many as 180,000 members
  • Multi-employer (Taft Hartley) plans with funds ranging in size from 500 to 30,000 union members
  • Corporate plans covering up to 10,000 participants

Our retirement consulting team consists of over 35 staff members, including 20 credentialed actuaries,8 of which are Fellows in the Society of Actuaries (the highest actuarial designation). In addition to our extensive experience with public plans, together our staff has over 75 years of multi-employer plan experience and over 100 years of corporate plan experience.

One of the many things that differentiates Foster & Foster from our competitors is the personal service and responsiveness we guarantee to our clients. Our goal is to make each client feel like they are our only client. Our success in doing so is evidenced by our client and employee retention rate: under our current ownership (since 2005), we have NEVER been terminated by any client due to the quality or performance of our work and we have NEVER had a credentialed actuary voluntarily leave to go work for another actuarial firm!

Below is a list of the services we provide for our retirement clients:

Actuarial and Consulting Services

Public Systems

  • Actuarial valuations
  • State reporting
  • GASB 67/68 reporting
  • Experience studies
  • Funding policy and contribution consulting
  • Funding and accounting projections
  • Plan design studies/union negotiations
  • Expert witness testimony
  • Actuarial audits/reviews

Corporate/Multiemployer Plans

  • Actuarial valuations
  • AFTAP certifications
  • Financial accounting under ASC 715
  • Governmental filings
  • Experience studies
  • Funding and accounting projections
  • Plan design studies/union negotiations
  • Nondiscrimination testing
  • Plan mergers/spinoffs/terminations
  • Consulting regarding plan risk and cost volatility
  • Defined contribution plan consulting
  • Withdrawal liability calculations and plan mergers/spinoffs
  • Rehabilitation plans

Administrative Services

  • Pension plan administration with each plan having a dedicated administrator(s)
  • Online administrative portal with customized benefit calculator
  • Online benefit modeling
  • Complex benefit calculations (e.g. late retirements)
  • Service purchase calculations
  • Domestic relations orders

Compliance Services

  • Plan document/amendment preparation
  • Compliance reviews
  • Voluntary correction program support
  • Legislative and plan design changes

Communication Services

  • Retirement savings education materials for participants
  • Personalized benefits statements/comprehensive statements
  • Summary Plan Descriptions (SPDs)
  • Summary of Material Modifications (SMMs)
  • Annual funding notices