Innovative Pension Plan Design

We create a customized plan to achieve your goals.

Creating the right plan to meet your and your employees’ needs is critical to your overall strategy and essential in improving employee retention. Your needs require hands-on consultants who take the time to listen, learn your objectives, and create a customized plan to achieve your goals. Enhancing employee satisfaction through these well-thought-out plans bolsters loyalty and reduces turnover. We use proprietary analytical tools to develop the right plan design for the company and its employees. Like our other services, we utilize all the tools in the toolbox to ensure the most suitable plan design is in place.

Standard Pension Plan Design Services:

Meeting to Discuss Goals and Objectives for the Retirement Program:
This is the foundational step where we sit down with our clients to understand their vision and goals for their retirement program. It’s essential to clarify what you hope to achieve, whether maximizing employee benefits, ensuring financial sustainability, or achieving a specific set of performance metrics.

Data Collection and Modeling to Develop Various Design Options:
After understanding your objectives, our team gathers pertinent data related to the retirement program. This data-driven approach allows us to create models, simulating different scenarios and design options to discern which aligns best with your objectives.

Refine Plan Design and Provide Stress Test Results for Contributions, Expenses, and Other Financial Metrics:
Once preliminary designs are in place, they undergo rigorous stress testing. This process simulates extreme yet plausible adverse conditions to evaluate the plan’s resilience. By examining how the plan reacts to various stressors, we can refine and optimize it to ensure it remains robust across various financial environments.

Compliance Analysis, Including Non-Discrimination Testing:
Every retirement program must adhere to regulatory standards. This step involves a thorough review to ensure the program complies with all legal requirements. Non-discrimination testing, in particular, ensures that a plan’s benefits, rights, and features don’t disproportionately favor higher-paid employees over non-highly compensated ones.

Employee-Impact Analysis to Make Sure There Are No Surprises and Transition Strategies:
Change can be disruptive, especially when it affects employees’ retirement plans. This phase analyzes how proposed changes might impact employees, ensuring no unintended negative consequences. It’s about creating a smooth transition from the old to the new while keeping everyone informed and prepared.

Recommend Changes to Investment Strategy to Adapt to the New Plan Design:
With a refined plan design, the investment strategy might need tweaking. This step involves adjusting investment strategies to align with the new plan’s objectives, ensuring that every aspect of the program works harmoniously to achieve the desired outcomes.

Develop Implementation, Communications, and Administration Strategies:
Once everything is set, the focus shifts to execution. This involves developing a clear roadmap for implementing the new plan design. The communication strategy is essential, ensuring all stakeholders are informed and on board. Moreover, we craft strategies for the day-to-day administration of the program, ensuring its seamless operation.

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