BCG Provides Retirement Program Solutions.
Change is inevitable and we have witnessed an evolution in employer sponsored retirement programs — defined benefit pension, defined contribution / 401(k) / 403(b), cash balance type hybrids and retiree medical — that has severely impacted employees and employers in this country.
The evolution is continuing and adaptation to change can be challenging for employers who must balance the costs of rising retirement benefits with their ability to compete and attract and retain high-quality employees. Changing federal legislation and accounting standards must also be addressed.
Those important changes and issues include:
For Governments:
→ Funding Valuations
→ GASB financial reporting changes:
| → Net Pension Liability → Net OPEB Liability → Pension (and OPEB) Expense vs. Actuarially Determined Contributions |
→ Actuarial Studies
For Corporations:
→ The Pension Protection Act and ongoing legislative changes
→ Funding rules for ERISA pension plans
→ Cash Balance and other hybrid plans
→ PBGC premiums and reporting requirements
→ FASB accounting disclosure standards for private sector plans including:
→ Pension Plans
→ Retiree Medical Plans
→ Defined benefit plan closures/terminations
BCG: Actuaries and Consultants Who Will Help
Boomershine Consulting Group not only understands the trends and issues, we take seriously the crucial challenge of cost and competitiveness balance.
As a client, you benefit from our many years of consulting expertise and experience (over 40 years), with the cost-efficiency that only a firm of our size can deliver. We have no salesmen, no layers of management and therefore no inflated cost structure. We believe long-term solutions can be found by in-depth actuarial analysis and good communications.
When you meet and work with our dedicated team, you will see why our clients are so satisfied!
Mission:
We strive to provide independent, innovative and professional actuarial, retirement plan, and communications services of the highest standards. Our clients are our focus. We pledge to listen and respond in a timely manner and cost-effective basis.
We take pride in our:
Independence
– We provide objective solutions, based on sound actuarial principles and impartial advice that always places the client’s best interests first.
Expertise
– We possess a depth of professional actuarial, plan administration and communications knowledge that is acquired only through years of experience in the field. Our Senior Staff have spoken at numerous Regional and National Conferences.
Experience
– In addition to our wealth in years with the many facets of actuarial consulting, retirement plan administration amd communications consulting, we also provide comprehensive services to all types of employers in the private, public and non-profit sectors, small, medium and large. Examples include corporations, healthcare organizations, government entities and associations.
Quality
– We consistently deliver precise, timely, accurate reports and consulting services in accordance with the high standards and requirements of the American Academy of Actuaries (AAA), the American Society of Pension Professionals and Actuaries (ASPPA) and the Society of Actuaries (SOA).
Commitment
– We know how to listen, what the current issues are and what questions to ask. We are determined to develop individually tailored solutions that meet your goals. We also take the complex issues in the actuarial world and translate them into understandable English.