Because we specialize in public pension plans, we understand how to bridge the gap between the desires of your membership and your plan sponsor. We're proud to be the market leader in public retirement plans and our consultants are the most experienced, professional and accessible in the industry.

We will help you find the solution that will save you money. Count on us to provide relevant benefit proposals and make presentations on behalf of the Board of Trustees to the City Council.

Annual Actuarial Services

Pension
  • Perform annual actuarial valuation and report
  • Determine the annual funding requirement and review the experience of the plan
  • Prepare actuarial information required by state statutes
  • Prepare disclosure information for auditors per Governmental Accounting Standards Board Statements No. 25 and 27
  • Create individual member certificates that show the projected, accrued, and vested benefits, along with a statement of accumulated member contributions on the valuation date
  • Provide an online benefit calculator for participants to estimate future retirement benefits
  • Conduct experience studies to determine the appropriateness of actuarial assumptions
  • Perform projections of future contribution rates and future benefit payouts
  • Evaluate the impact on the plan of changes to benefits, assumptions, methods, or data
  • Perform administrative services including trust reconciliations, service buybacks, and member contribution refunds

Other Post-Employment Benefits (OPEB)

Recent changes in accounting for retiree health and other non-pension benefits by GASB will put a significant burden on municipal and public plans of all sizes. We can help with your valuation process by setting assumptions and analyzing funding options to create a consolidated report.

Along with our expertise, our powerful ProVal modeling software can show economic forecasts and scenarios to help you determine the optimal plan design for the future, in light of these new standards.

Count on Foster & Foster to also help you answer other remaining OPEB questions such as:
  1. Are the new requirements really going to impact us if retirees pay 100% of the premium?
  2. Should we fund this arrangement?
  3. If yes, what vehicle should we use?
  4. What are the consequences of not funding the plan?
  5. What are the advantages and disadvantages of issuing OPEB obligation bonds?
  6. What will the expense and unfunded liability be like 5, 10, or even 20 years from now?
  7. How could we modify our plan design to minimize expense and maximize retiree satisfaction?