A major multiemployer plan faced a financial crisis resulting from the 2000 to 2002 market downturn. They asked Buck to help develop an approach that would solve their immediate short-term regulatory issues as well as meet their long-term benefit and cost objectives.

The Buck team, working closely with the Fund office and the incumbent actuary, developed a strategy involving contribution and benefit adjustments that stabilized the Fund. We then prepared strategic projections for long-term recovery.

Both management and labor trustees understood the need to share the cost of recovery and approved the recommendations. The Fund is now on a financially stable track with Buck serving as Plan actuary and consultant.