CLASSIC VALUES, INNOVATIVE ADVICE.

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PENSION SERVICES

Cheiron offers a range of pension actuarial consulting services, from supplemental services that augment the work of your current actuary to a comprehensive suite of services which we provide as your fund’s main actuary. At the heart of these services is our proprietary P-scan product for pension funds/programs.

Routine Actuarial Services

Annual Actuarial Valuations

Our standard format presents a four-section report on the following topics: The Trustee/Executive Summary; Fund Assets, Liabilities, and Costs; Accounting Information; and Supporting Appendices. Our annual actuarial valuation reports can be customized to meet the needs and preferences of the fund/program.

Preparing necessary government filings and/or accounting reports

If applicable, we work and coordinate carefully with the plan administrator and accountant to understand our explicit role here, and filing deadlines. We complete Form 5500 Schedule MB/SB and the PBGC premium filings (if applicable) within your deadlines. For private sector plans, we provide a FAS87/132 report. For public sector plans, we assist if needed on your annual reports (CAFRs) that annually provide information on your plan, including the actuarial information.

Calculating the pension fund’s annual required contribution

The calculation of the plan’s annual required or recommended funding contribution is part of the actuarial valuation process, described above. It is a standard part of P-scan.

Calculating the cost of plan benefit changes

If requested, we can assist both in calculating the cost of a specific change and also in the design and exploration of various benefit change options. P-scan can be custom-tailored for sensitivity testing. P-scan provides a solid foundation for both base results and the communication of those results.

Reviewing of language drafted by fund counsel on proposed amendments

This service will almost always be performed under the direction of fund counsel. We have experience in this area, successfully coordinating our services with that of fund counsel.

Consulting on issues relating to the pension fund operation

This includes items like data collection, impact of law changes, and other typical issues trust funds face.

Attending Board of Trustee meetings upon request

Our attendance at meetings greatly enhances our ability to provide the fund/program the best possible service.

Supplemental Services

Cheiron offers an impressive list of supplemental pension actuarial consulting services. For example, we can perform:

  • ad-hoc studies on plan experience, benefit design, and financing approaches,
  • specialized studies on emerging trends in plan design such as Deferred Retirement Option Programs (DROP) and the Adjustable Pension Plan,
  • ALM studies with a focus on helping trustees better understand the risks inherent in pension plans,
  • specialized studies of transitions from defined benefit to defined contribution programs,
  • independent actuarial audits of your current actuarial work, and
  • design and develop customized technology applications such as web-enabled benefit calculators, funding (budget) projections systems, and customized administration and employee communication systems.

In addition to these we provide a specialized and unique service, our P-scan product, as a stand alone service supplemental to your current actuarial services.

 
OUR MISSION: To empower benefit plan sponsors to understand and better manage their benefit programs and their resulting financial risks through innovative technological applications and unsurpassed professional expertise.
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