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Our company
Plans Serviced
Plans sponsored
NEWSLETTERS
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 A
traditional Defined Benefit Plan provides for a monthly annuity payable at
early or normal retirement age. Benefits are typically based on a specified
formula involving years of service worked and often include consideration of
employees' earnings. Generally, benefits under a Defined Benefit Plan are paid
out upon retirement, death or disability.
In contrast, a Cash Balance Plan is a Defined Benefit Plan designed to look
like a Defined Contribution Plan. Each year a member is allocated a
contribution, defined by plan terms, and his "theoretical account balance"
grows at a plan defined investment rate of return. Cash Balance Plans provide
funding flexibility and are usually designed to provide a lump sum option at
termination or retirement.
With Enrolled Actuaries and years of experience, Beyer-Barber Company is
prepared to handle the complexities of both Defined Benefit and Cash Balance
Plans.
Services
Beyer-Barber will provide the following services with respect to Defined
Benefit and Cash Balance Plans:
- Annual Actuarial Valuation Reports
- Determination of eligible employees
- Calculation of accrued, accrued vested and projected benefits
- Selection and monitoring of actuarial assumptions
- Determination of plan liabilities
- Determination of actuarial gains and losses
- Application of actuarial funding and asset valuation methods
- Reconciliation of plan assets
- Determination of minimum required, recommended and maximum deductible
cost levels
- Individual participant statements
- IRS Form 5500 Series
- Summary Annual Report (SAR)
- Participant Benefit Calculations and Election forms
- PBGC Filings
- FASB disclosures
- Benefit improvement studies
- Forecast Actuarial Valuations
- Plan terminations
- Plan mergers and spin-offs
- Plan document, amendments and submissions
- Ongoing monitoring of legislative and regulatory development
- Ongoing consulting on plan design and plan operation
- Qualified Domestic Relations Order (QDRO) review
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