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

How can we be of service?  Let our experts know.

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