Our actuarial team has extensive experience in the following areas:
- Pension Plan Actuarial Valuations – Retirement plans are required to have an actuarial valuation to determine the funded status and contribution requirements of the plan. We prepare actuarial valuations for numerous private, public and non-profit organizations who sponsor defined benefit pension plans.
- Accounting for Pensions (FASB ASC 715 and GASB 67 / 68) – The Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB) publish various standards for employers with pension plans. We prepare detailed computations of all income statement and balance sheet requirements for pension plans.
- Accounting for Postretirement Benefits Other than Pensions (FASB ASC 715 and GASB 45) – FASB and GASB also publish various standards for employers who provide postretirement benefits other than pensions. We prepare detailed computations of all income statement and balance sheet requirements for postretirement benefits other than pensions.
- Pension Payments for Retirees – Our pension disbursement department can efficiently process the monthly pension benefit payments for your retirees.
- Pension Plan Administration – Some employers do not have in-house expertise to properly administer their retirement plan or answer employee’s questions. Our team provides services such as preparing retirement estimates, preparing final retirement quotations, preparing and distributing required notices and communicating with plan participants.
- Value of Pension – Occasionally, for divorce or other reason, there is a need to value a current pension benefit. We can efficiently prepare a value for you in these instances.