Public Pension
Rudd and Wisdom provides a comprehensive range of consulting services to boards of trustees of defined benefit pension plans for public employees and of post-employment medical plans for public employees.
Actuarial Valuations for Defined Benefit (DB) Plans
- A team of actuaries with extensive Texas public plan experience
- Review of actuarial assumptions with each actuarial valuation
- Multi-step internal peer review process
- Multi-scenario Projections of key results in future actuarial valuations
- Individual benefit statement of projected benefits for each active member
Plan Design Studies for DB Plans
- Changes to reestablish an adequate contribution arrangement
- Changes to enhance benefits
- Draft of ballot for employee election for plan changes
- Presentation to employees
- Draft of plan amendments for review of legal counsel
Governmental Accounting Information for DB Plans
- GASB 67 report of actuarial disclosures for plan
- GASB 68 report of actuarial information for employer
- User-friendly format for internal accountants and auditors
- Consultation with auditors
Post-Employment Medical Plan Services
- Actuarial valuations
- Reliance on our group health actuaries to develop claims cost assumptions using their large Texas database
- Governmental accounting reports (GASB 74 and 75)
- Studies of plan design and funding modifications
Other Consulting Services for DB Plans
- Experience study
- Responding to actuarial audit
- Model domestic relations order (DRO)
- Benefit calculations for a qualified DRO (QDRO)
More Consulting Services for DB Plans
- Consultation regarding interpretation of plan provisions
- Calculation of benefits at retirement, death, or disability
- Presentation to city council or city staff
- Benefit comparison study
