Defined Benefit Plan Services
Defined benefit plans have been the backbone of retirement plans for many generations. While they are becoming less prevalent in today’s benefit environment, it is critical that they be managed carefully to meet their original expectations and goals.
Alliance Benefit Group® has successfully provided defined benefit plan administration service for over forty years. Our professional staff of actuaries, consultants, attorneys, accountants, and administrators have years of experience in the pension plan industry which allows us to provide clients the expertise and skills necessary to successfully manage these types of plans. In addition, we have created a number of tools to assist us in meeting those goals.
ABG® provides a wide range of high level defined benefit services including:
Pension Plan Design
Actuarial Valuation Services
Actuarial Calculations for Health and Welfare Plans
Projection of Plan Costs
Integrated Defined Benefit and Defined Contribution Statements
We pride ourselves on the fact that all actuarial valuations are delivered to the client on a personalized basis by an actuary able to translate the results into common language so they are completely understood. In addition, our consultants are fully accredited through a number of actuarial organizations.
Alliance Benefit Group® also provides a suite of products designed to assist plan sponsors in the management of the pension plan. These products include:
Pension Financial Manager - An actuarial projection cost modeler which provides "on the fly" results under an unlimited amount of scenarios. This tool allows plan sponsors to understand the sensitivity of actuarial costs to a variety of factors.
Pension Design Manager - A product which models different pension plan designs integrated with defined contribution plan design, and their impact on retirement income for individual participants. This tool allows plan sponsors to see the impact on changing formulas for different population segments.
Personalized Savings Manager - An individual tool which assists participants in determining how much to save for retirement when they have both a defined benefit and defined contribution plan.
Alliance Benefit Group® also provides pension plan design services for professional service firms which are attempting to maximize retirement income, while minimizing cost. Complete design services are accomplished utilizing constraints dictated by the plan sponsor. From these constraints, we are able to design an optimal retirement plan for the owners.