Retirement Plan Services

Venuti & Associates provides actuarial and consulting retirement plan services to the trustees of multiemployer pension plans, single-employer pension plans and public entity plans. Our teams will customize our services to meet all of your Plan’s specific retirement needs.

Core Retirement Plan Services

Prepare annual actuarial valuations.
Maintain the Funding Standard Account as required by ERISA and complete the Schedule MB or SB (Form 5500).
Assist with multi-year projections under PPA using variable projection scenarios. (PPA Projection)
Assist as necessary with the other annual reporting and disclosure requirements of ERISA.
Act as advisors to the plan sponsor by providing ongoing guidance and recommendations to maximize the effectiveness of the retirement plan.
Determine how the funded status changed from prior year using what is called an experience analysis. (Experience Analysis)
Prepare annual pension plan listings for the administrator to assist with the administration of the plan.
Attend all Board of Trustees meetings and all other special meetings, as requested.
Provide actuarial certifications under the Pension Protection Act of 2006 (“PPA”).
Prepare, or review, plan document amendments and changes to the summary plan description.
Assist the administrator and attorney with actuarial and other issues that arise in the day-to-day operation and communication of the pension plan.

Additional Retirement Plan Services

Accounting aspects of employee benefit programs
Qualified and non-qualified retirement programs
Pension plan mergers
Retirement adequacy studies
Testimony at arbitration hearings
Defined benefit and defined contribution retirement plan discrimination testing
Actuarial second opinions
Customized modeling software
Assistance with complicated IRS issues
Preparation of withdrawal liability calculations
Deterministic and stochastic valuation projections
Calculation and communication of retirement benefits
Consultation on non-qualified retirement programs

PPA Projections

Venuti & Associates uses state-of-the-art actuarial projection software to produce cash-flow projections using both static and dynamic assumptions. Our projection model has helped our clients meet the requirements of the Pension Protection Act of 2006 (PPA) as well as providing information to the Trustees so they can make informed decisions regarding plan provisions and funding.

The following projection output shows a sample of the PPA funded percentage and the Credit Balance before and after implementing a Rehabilitation Plan that would help a Plan avoid going into the “red zone”.

Experience Analysis

Venuti & Associates is one of the few firms that performs an actuarial experience analysis each year as part of our annual valuation. This analysis is important for two reasons. First, it tells the Trustees of a plan how and why the funded status changed from the prior year. Second, it allows the actuary to monitor whether the assumptions continue to be appropriate for valuing plan liabilities. Venuti & Associates uses state-of-the-art actuarial analysis software with the capabilities to perform experience analyses by source. The graph shows a sample of a 5-year history of mortality gains and losses. Differences in actual experience compared to the actuarial assumptions are expected. However, a recurring trend of gains or losses from a particular assumption could indicate that the assumption should be modified.