SERVICES

We provide a broad range of actuarial consulting services to sponsors of retirement programs, both pension and OPEB.  Our services include annual valuations for funding, FASB, or GASB purposes. All work is performed by professional actuaries who follow the practice standards of the American Academy of Actuaries.

Plans We Service

  • Single-employer Pension and Retiree Medical (OPEB)

  • Public employer Pension and Retiree Medical (OPEB)

  • Multi-employer Pension

  • Non-qualified Deferred Compensation (SERP)

Typical Clients

  • Sponsors. Corporate, Public, or Taft-Hartley

  • Plans.  Pension, Cash Balance, SERP, Retiree Medical (OPEB).

  • Investment Advisory Firms. Large firms working with large pension plans.

  • ProVal Pension Software Users.

Specialized Technical Skills and Experience

  • Asset/Liability Modeling

  • Actuarial Valuation

  • ProVal Pension Software

  • FASB Disclosure

CONTACT

Annual Valuation

  • The Pension Protection Act of 2006 (PPA) was the most comprehensive reform of the nation’s  pension funding laws since the enactment of ERISA in 1974. Effective with 2008 plan years, the new law established separate funding standards for single-employer (IRC §430) and multi-employer (IRC §431 and 432) defined benefit plans. Primary services for both types of plans include:

     

        •   Actuarial Valuation

        •   Zone Certification (multi-employer)

        •   AFTAP Certification (single-employer)

        •   Withdrawal Liability (multi-employer)

        •   Annual Funding Notices

        •   Form 5500 Preparation, incl. Schedules SB and MB

        •   PBGC Premium determination and filings

  • ASC 715 (original FASB Statements 87, 88, and 106) governs accounting related to the calculations and disclosures entities provide under U.S. GAAP in connection with their defined benefit pension and other postretirement benefit plans. Primary deliverables include the determination of net period benefit cost and the required year-end financial statement disclosures.

  • We can prepare the actuarial valuations for purposes of GASB 67/68 and GASB 74/75 related to the accounting requirements of public pension and OPEB plans, respectively.

  • These Statements govern statutory accounting related to the defined benefit pension and other postretirement benefit plans sponsored by insurance companies. The National Association of Insurance Commissioners (NAIC) adopted SSAP 92 and SSAP 102 in March of 2012, for the purpose of more closely aligning statutory accounting with U.S. GAAP accounting.  SSAP 92 and SSAP 102 were effective January 1, 2013 (earlier adoption was permitted).

    • Funding Requirements

    • Annual Certification

    • Pension/OPEB Expense

    • Financial Disclosure

Actuarial Consulting

    • New plan design

    • Existing plan design changes

    • Plan conversion

    • DB versus DC comparisons

  • We have extensive experience assisting plan sponsors with the process of terminating a defined benefit pension plan. The PBGC standard termination process involves adherence to a strict timeline for notices and filings. We will also work with outside terminal funding advisors to achieve the best settlement of the plan’s obligations.

  • Click here for an overview of:

    • Forecasting Assets and Liabilities

    • Deterministic Projections

    • Stochastic Projections

  • Experts in ProVal valuation software.

  • Consulting and solutions for non-traditional problems.

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