Goal: Maximizing the value of your plan to employees while streamlining administration and making plan more cost effective.
Many defined benefit plans are administered on an unbundled basis-many different provider performing different services. This may or may not be the best solution for your plan. We objectively work with you to find out if bundled, semi bundled or fully bundled is the best solution for your plan administration based on your goals.
Here are areas of focus that Asset Strategy Retirement Plan Consultants can provide to your hospital or corporation:
Defined Benefit Plan Design & Consulting
- Review current plan design/provisions to see if still meeting objectives
- Asset/liability studies-stochastic forecasting
- Asset Allocation matching assets with liabilities
- Investment Advisory-advise on best in class managers
- ASRC becomes a Fiduciary to your plan
- Actuarial Services-valuation reports, FAS disclosures
- Termination studies
- Mergers & acquisitions
- Participant communication, retirement planning seminars
Our professional consultative approach to working with plan sponsors leads to a partnership that allows for the best possible plan design, financial impact and employee appreciation. We work with you to ensure that objectives are clear and results are maximized. Asset Strategy Retirement Plan Consultants embodies the expertise to manage the following challenges:
- Studies to determine improved plan design, including alternative plan structures such as hybrid plans. These studies will illustrate impacts on the level of benefits provided (through the use of replacement ratios), as well as cost impacts. We provide a full report and follow-up support, including a presentation to your Board or Committee, as needed.
- Asset Strategy Retirement Plan Consultants will work with you to ensure that your pension plan is in harmony with your retirement and total compensation programs. We will incorporate all such other plans and programs to ensure that results are comprehensive and allow you to make an informed decision.
- Pension plans are continually subject to regulatory changes and evolving experience that can create potential problems with compliance. We have the knowledge and technique to identify and project these issues and recommend solutions. Solutions will be analyzed in the context of your objectives as expressed in your retirement and total compensation programs.
- Many plan sponsors acquire other entities or may spin-off an existing location. We manage both with equal ease, guiding you through all the potential pitfalls.
- Our plan design studies and cost/benefit analyses are especially useful in collective bargaining scenarios and we support the effort in any way that we can.
- If necessary, we will manage the entire plan termination process, including legal requirements, funding needs and all of the filings. We will work with you to ensure the integrity of your participants' options and benefits, including partnering with you on alternative or replacement plan designs.
- We recognize the need for, and widespread lack of attention paid to, the management of your plan's assets. Maximizing the investment return of the assets minimizes required contributions and secures the benefits for participants. Fiduciary requirements demand professional monitoring of the plan's assets, investment allocation and performance. Our Strategic Asset/Liability Management program will design deterministic and stochastic methods and studies that will present projected results of various portfolio allocations that incorporate the characteristics of your plan's liabilities. In doing so, we will present projections of your plan's funded status, contributions and expense - relating each to the objectives and risk tolerance you express.
At Asset Strategy Retirement Plan Consultants, we can help you with achieving the goals that you have for your defined benefit plan. Put our experience and expertise to work for your organization.