Defined benefit pension plans provide your employees with a secure retirement. Changes in the competitive and legislative landscape require strategic planning, quick thinking and attention to detail with respect to your plan design and compliance. Our services span from the day-to-day operation of your organization’s plan to long-term forecasting and design to ensure both the organization’s and the employees’ needs are being met.
Defined contribution plans, including 401(k)s, 403(b)s and other similar plans, require the utmost attention to ensure a mutually beneficial design for both sponsor and participant. Annual nondiscrimination testing and compliance regulations for defined contribution plans can be complicated and time-consuming without the help of a knowledgeable consultant. Experience with plan administration, including adherence to plan provisions, determination of plan eligibility and clear participant communications, furthers the guarantee of successful plan management.
Post-retirement medical plans provide benefits to retired employees after years of service for your organization. Such benefits must be accounted for during an employee’s active employment and reported as an expense on your financial statements. Financial Accounting Standards Board ASC 715-60 (formerly FAS 106) is the accounting standard governing postretirement medical plans for non-governmental agencies and Governmental Accounting Standards Board No. 45 (GASB 45) is the standard for governmental agencies. Subsidized retiree health benefits require attention to detail and careful plan design to guarantee plan sponsor compliance and plan participant satisfaction.
