We help our clients find the right mix of services to implement the right strategy. Pension terminology and actuarial jargon can be confusing. ASI prides itself in not only providing valuable advice but in communicating in an accessible manner. Our communication style combined with our fee structure which doesn’t change with every short call encourages clients to pick up the phone and ask for help.
Our consultants have a drive to thoroughly understand your business, what matters most to you and the objectives of your sponsored plans. From this understanding we develop a strong relationship and an open dialogue with our clients. This is especially important when it comes to discussing the ever-changing pension environment. Part of our commitment to you is to continuously monitor these changes so that you can make use of opportunities and prepare for challenges. We consult on all aspects of defined benefit pension plans including on-going plan management, risk tolerance measurement and audit of existing programs. Some of the most pressing concerns for defined benefit pension plan sponsors are:
Plan Governance and Plan Design
Governance starts with defining expectations within a framework of authority, direction, and accountability. The purpose of governance is to employ best practices and to meet fiduciary responsibilities. Actuarial Solutions provides ongoing customized governance support to pension committees, plan sponsors and boards of trustees.
As the needs of an organization changes, it is likely there will be a need to change the design of its pension plans. ASI is able to assist in the review of a pension plan to ensure that it is providing the desired pension benefits to plan members. While we do not provide legal advice, we are able to assist plan sponsors in reviewing plan documents and drafting a plan amendment to ensure that the pension plan is delivering intended benefits.
Defined Benefit to Defined Contribution Conversion
Before any transition, it is important to consider your objectives in providing retirement benefits and decide if moving from defined benefit to defined contribution will meet those objectives. We have many years of experience helping plan sponsors understand and analyze the impact of transition on member benefits.
For more information on DB to DC conversion click here.
Plan Wind Up
A wind-up of a pension plan involves the termination of the plan and the distribution of the assets in accordance with applicable legislation and regulations. A pension plan wind-up can happen for a number of reasons including reorganization or downsizing. Regardless of the reason there are many considerations plan sponsors must review to determine if and when a wind-up is appropriate. Our consultants can help you go through the process of determining if and when a plan wind-up is right for you.
Once a decision has been made to wind-up a pension plan, then our actuarial and pension administration teams will guide the plan sponsor through the process in an efficient and effective manner.
For more information on plan wind-up click here.