We provide solutions for the changing retirement world - walking together through the maze of choices and decisions.
Understanding Retirement Programs In Today's World
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:
- The New Federal Pension Protection Act that significantly impacts:
- Funding rules for ERISA pension plans
- Cash Balance and other hybrid plans
- Several other related issues
- New FASB accounting disclosure standards for private sector plans including:
- Pension Plans
- Retiree Medical Plans
- Trends towards various levels of defined benefit plan freezing
- New GASB accounting rules that will have huge impacts on public sector employer financial statements
We Can Help
Boomershine Consulting Group not only understands the trends and issues, we take seriously the crucial challenge of rising costs to an employer’s bottom line. As a client, you benefit from our many years of major consulting firm expertise and experience, but with the cost-efficiency that larger firms can’t 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 communication.
When you meet and work with our dedicated team, you will see why our clients are so satisfied!
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.
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.