The Actuarial Practice at Municipal Finance Partners, Inc. specializes in providing actuarial services for the municipal pension and postretirement benefit (OPEB) plans. We are among the foremost experts on Act 205 of at 1984, which governs pension plans sponsored by municipalities in Pennsylvania.
The Actuarial Practice at Municipal Finance Partners, Inc. has the background and experience to exceed your expectations in the following areas:
- Actuarial consulting and administration for government retirement plans, including defined benefit and defined contribution plan administration.
- Financial reporting under GASB standards for retirement plans and postretirement benefit plans other than pensions (i.e., OPEB plans).
- Guiding our clients through the pension budgeting (Minimum Municipal Obligation, or MMO) process.
- Calculation of benefits and preparation of benefit election forms for terminating and retiring employees.
- Calculation of benefits payable to alternate payees of Qualified Domestic Relations Orders (QDROs).
- Review of QDROs for compliance with plan provisions and governing regulations with your legal counsel. We will suggest improvements to domestic relations orders so that you can qualify them as plan administrator.
- Actuarial studies to determine the impact of proposed changes in plan benefits, both financially as well as from a human relations perspective.
- Acquisitions, spin-offs, mergers and plan terminations.
- Expert testimony in interest arbitration hearings and civil litigation.
- Compliance with government laws and regulations including preparation of government reporting forms; preparation of plan documents, plan amendments, ordinances and resolutions for review by counsel; and preparation and review of forms used for plan administration.
- Communication of benefits to employees. From printed and online materials to face‑to‑face meetings, we will help to lift the veil of mystery from pension plan benefits and build an appreciation for the value of the benefits our clients provide to our their employees.
- Benefit design studies. We will suggest changes to plan provisions where advisable. Our clients count on us for creative solutions based on their situation, circumstances and goals.
- Compliance wrap services for defined contribution plans.