Actuarial Services
Actuarial Services
Managing Powerful Tools
Defined Benefit plans, including Cash Balance plans, can be powerful tools to offer substantial retirement benefits while providing significant retirement savings and tax advantages. However, these advantages come with additional complexity. Defined Benefit and Cash Balance plans require the services of an actuary to conduct an annual valuation of the plan and ensure compliance with the regulations set forth by the IRS, DOL, and PBGC.
At Michigan Pension, we believe that these plans operate best when the actuary takes an active advisory role, going beyond the minimum valuation and compliance requirements. That is why we have our own full-time actuary on staff dedicated to designing, supporting, and consulting with our defined benefit plan clients.
Whenever a client calls with questions about their plan, they get a prompt response from a fully credentialed, experienced actuary who knows their plan and offers comprehensive advice regarding the plan’s funding, design and how it factors into their larger retirement and tax objectives.
Managing Powerful Tools
Defined Benefit plans, including Cash Balance plans, can be powerful tools to offer substantial retirement benefits while providing significant retirement savings and tax advantages. However, these advantages come with additional complexity. Defined Benefit and Cash Balance plans require the services of an actuary to conduct an annual valuation of the plan and ensure compliance with the regulations set forth by the IRS, DOL, and PBGC.
At Michigan Pension, we believe that these plans operate best when the actuary takes an active advisory role, going beyond the minimum valuation and compliance requirements. That is why we have our own full-time actuary on staff dedicated to designing, supporting, and consulting with our defined benefit plan clients.
Whenever a client calls with questions about their plan, they get a prompt response from a fully credentialed, experienced actuary who knows their plan and offers comprehensive advice regarding the plan’s funding, design and how it factors into their larger retirement and tax objectives.
Our Commitment to Communication
“Cash Balance plans are sophisticated and efficient tools for clients to meet their retirement goals. However, the level of complexity they bring can be daunting. My number one priority as Michigan Pension’s actuary is to clearly communicate the information our clients need to make decisions with regards to their plans.
“We do not believe in the ‘black box’ approach — whether it relates to contribution levels, plan design, or preparing the plan for compliance with government regulations such as Section 415 maximum benefits or plan termination requirements. We strive to make the abstract understandable and actionable in the real world.”
—Erik Bolda, ASA, EA
Consulting Actuary
Supporting Clients During Times of Change
Actuarial science is all about assessing and planning for financial risk. No one knows what the future holds for your business. However, we do our best to prepare for all possible outcomes. We offer full support for plans during times of change for your business, such as mergers and acquisitions, plan terminations, and IRS or DOL audits.
