Plan Strategy and Design
Retirement programs have a huge impact on your financial results. With market volatility, investment value uncertainty, and a workforce that is both evolving and developing a new set of expectations, it’s important to ensure that your overall retirement program meets the needs of your organization and your employees both today and into the future. Buck can help.
By involving your employees as partners, you can develop greater engagement, motivation, productivity, and overall business success. We know how to engage and motivate employees to share the responsibility for their retirement decisions, and we design programs that reflect both your employees' needs and your organizations' plan goals. We can develop strategies that balance employer and employee responsibilities and help ensure your employees are better equipped and prepared for retirement. We can help with your:
Pension plans: Our team has decades of experience in the design and administration of all types (defined benefit, cash balance, and other hybrid plans) of retirement plans.
Defined contribution plans: Our consultants understand the increasing importance of defined contribution plans to your employees. We provide an array of services to ensure that the plan delivers benefits in the way you expect.
Deferred compensation, supplemental executive retirement plans (SERPs), and other nonqualified and executive benefit programs: With the impact of ever-changing regulation and benefits delivery, it’s even more important for our experienced team to assist you with a program that meets the needs of your organization.
Cash balance plans: Recent IRS regulations provide plan sponsors with an opportunity to substantially limit pension volatility while protecting employees’ retirement security. Our Low Volatility Pension Plan™ takes the cash balance concept a step further to virtually eliminate funding volatility.
Retiree medical: Employers that continue to offer retiree medical benefits are always looking for effective benefit delivery. We have the experience to develop and manage retiree medical plans now and into the future.
Mergers, acquisitions, and divestures: We have the tools and experience to assist in due diligence, execution, and integration in line with your benefits strategy for mergers, acquisitions, or divestures. Before your deal takes place, we can partner with you to complete due diligence and preparation activities. Following the transaction, our team of specialists can assist you with the transition and integration phases.
Plan design and redesign: Whether it's because of a change in corporate philosophy, an acquisition, or as a response to shifting workforce demographics, we can help you redesign your retirement plans to support changing corporate objectives. This includes developing objectives, cost forecasting, compliance testing, effective communication, and implementation resources that ensure proper administration and operational compliance. Take a moment to uncover how we helped an insurance organization establish goals, objectives, and ultimately a new design for its future retirement programs.
Plan terminations: As employers continue to move away from defined benefit plans, they need to deal with the lingering liability of those plans. We have the experience and centralized resources to assist with ultimate termination of plans.