Defined Benefit Plan Services

A defined benefit plan promises a specified monthly benefit at retirement. The plan may state this promised benefit as an exact dollar amount, such as $100 per month at retirement. Or, more commonly, it may calculate a benefit through a plan formula that considers such factors as salary and service — for example, 1 percent of average salary for the last 5 years of employment for every year of service with an employer. The benefits in most traditional defined benefit plans are protected, within certain limitations, by federal insurance provided through the Pension Benefit Guaranty Corporation (PBGC).

Government regulations have made defined benefit administration increasingly complex. To be certain, employers need to be confident that their pension actuary and consultant have the necessary experience to guide them successfully through any benefit decisions. Carroll Consultants, Ltd. provides that confidence.

Carroll Consultants, Ltd. draws from its experience in defined benefit plans to ensure their clients are fully informed when structuring or restructuring a retirement package.

As with our other services, clients may rely on us for all or just a few of the following:

• Plan Design Consulting
• Asset Allocation Study
• Plan Document & SPD
• Financial Disclosure
• IRS Submission
• Asset Allocation Study
• Ongoing Compliance
• Fund Manager Searches
• Forms Filing (e.g. 5500)
• Investment Policy Statement
• Acturial Valuations
• Participant Record Keeping
• Financial Disclosure
• Limitation Testing

The success in any retirement program will ultimately be measured by its flexibility and comprehensive objectives. To achieve this end, we bring our clients the most knowledgeable consulting advice.