Multiemployer and governmental plans
The public sector workforce is evolving and developing a new set of expectations. We help multiemployer plan sponsors make sure their programs deliver desired results and manage the financial impact these plans have, from funded status to withdrawal liabilities. Our specialized team of multiemployer plan consultants are experienced in working with governmental organizations. Download our Reporting and Disclosure Guide for Multiemployer Plans.
In addition to standard actuarial services, we offer assistance in other areas, including:
GASB accounting: Our governmental plan specialists are highly experienced in providing the accounting information required for disclosure under GASB Statements 25, 27, 43, and 45. We can help you determine the potential impact of GASB accounting standards for your employee benefit plans.
Strategic plan design: We’ve helped many plan sponsors with the design and re-design of pension and other employee benefit plans to meet diverse goals, such as limiting and stabilizing funding and expense, attracting and retaining employees, and the replacement of pre-retirement income at desired levels.
Cost forecasting: With our forecasting capabilities and sophisticated asset-liability modeling tools, we can prepare short-range deterministic cost forecasts or elaborate multi-decade forecasts.
Withdrawal liability consulting: We assist multiemployer pension funds, participating unions, and contributing employers with assessment and management of withdrawal liability, and are well-versed in the rules governing assessments and payments.
Plan communications: Our communication consultants prepare and customize important information for your plan participants, including administrative forms, notices of important plan changes, member handbooks, and summary plan descriptions.
Fiduciary training: We train you on what you need to do in order to comply with the rules that you need to follow as a fiduciary. And, we keep you abreast of current trends and changes.
Regulatory compliance: Buck’s tax and legal consultants interpret the current and proposed regulations for pension plans, and are particularly adept in understanding how regulatory requirements for governmental plans differ from those applicable to their private-sector counterparts.