We understand the challenges employers face in finding the resources to effectively manage all aspects of sponsoring a DB Plan. With a focus on risk management and proactive consulting, we offer a full array of services that go above annual valuation and plan compliance.

Let BPAS Actuarial & Pension Services make your life easier. We offer exceptional value by staying current with industry and market trends and offering creative solutions with our clients’ best interests always first.

Financial Analysis

  • Forecasting: Multi-year projections of funded status, funding requirements, and pension expense under various sets of assumptions (best case/worst case).
  • Asset Liability Modeling: Multi-year stochastic forecast under different asset allocation models.
    • A stochastic forecast generates results under literally thousands of possible scenarios with results grouped into a range of likelihood.
    • We’ll help you understand the range of possible outcomes in conjunction with establishing short-term goals and expectations for the pension plan.

Plan Consulting Services

  • Plan Design Alternatives: Benefit/Cost Analysis of current plan design compared to alternative plan designs, such as defined contribution or hybrid DB Plans. In response to our clients’ needs and trends in retirement plans, we have implemented the Worker Retirement Accumulation Plan (WRAP) for several plan sponsors. Read More (PDF).
  • Employee communications to maximize employee understanding of the benefit plan and any proposed change; includes employee meetings, surveys, and print and online education materials.
  • Liability Management Strategies: Liability growth and asset volatility have led many plan sponsors to consider ways to de-risk a pension plan. We have assisted our clients with de-risking strategies ranging from lump sum offerings and annuity purchase to plan termination. A lump sum offering may currently present a great opportunity to de-risk. There are many things to consider.
  • Executive Benefits: There are various plan designs to consider when providing retirement benefits to executives whose compensation exceeds IRS limits for qualified plan benefits through a Supplemental Executive Retirement Plans (SERP). In many cases, some of those benefits can be provided through the qualified plan in the form of a “Qualified Plan SERP” which has advantages for both the executive and the sponsor. Read More (PDF).
  • Custom Discount Rate: A customized rate methodology that can result in higher discount rates than one generated by traditional available indices. Read More (PDF).

Benefit Administration

  • Benefit Certifications: We’ll assist in reviewing retirement benefit calculations or in preparing the calculations; providing optional benefit forms and election paperwork; and helping with distribution processing.
  • Benefit Statements: Annual statements of benefits under the DB Plan and a statement of all retirement benefits to illustrate any potential income gap; we can also provide customized statements tailored to specific client needs.
  • Database Management: Option to provide regular payroll feeds and census updates so that our database is real We’ll perform annual death audits and missing participant searches and an ongoing review of participants reaching normal retirement age or required minimum distribution dates.
  • Secure online portals for plan sponsors to access the plan database, documents, archived statements and notices. Access can also be provided to plan participants to view individual information, as well as the SPD, notices, and benefit statements. We can also provide online estimates of retirement benefits.

Dedicated pension plan participant service line available during normal business hours.

Multi-Employer Funds

We serve as fund actuary for many multiemployer plans and also act in the capacity of independent consultant to employers participating in plans where we are not engaged to provide actuarial services.

Fund Actuary

  • Standard Services:
    • Zone Certification
    • Develop schedules and determine annual progress for funding improvement plan or rehabilitation plan
    • Minimum funding requirements
    • Plan audit disclosures
    • Assistance with governmental filings, notices and elections
    • Withdrawal liability determinations
    • Attendance at Trustee meetings

Independent Consultant

  • Financial Analysis and Risk Management Services to employers that participate in a multi-employer plan.
  • Withdrawal Liability Analysis: Determine the potential complete or partial withdrawal liability due to cessation of contributions, downsizing of workforce, or business transaction.
  • Solvency Analysis: Estimate potential plan insolvency and associated employer risk and liability.
  • Alternate Retirement Benefits Analysis: An employer who withdraws from a multiemployer plan will need to determine how to provide benefits to union employees in an alternative vehicle. We’ll provide a cost/benefit analysis comparing different plan designs, as well as educational material and benefit statements to assist in union negotiations.

Next Steps

Want to learn more? Contact us at [email protected] or call 866-401-5272.