Beyer-Barber Company - Employee Benefit and Actuarial Consultants

defined benefit and cash balance plans

Beyer-Barber Company - Defined Benefit and Cash Balance PlansA traditional Defined Benefit Plan provides for a monthly annuity payable at early or normal retirement age. Benefits are typically based on a specified formula involving years of service worked and often include consideration of employees' earnings. Generally, benefits under a Defined Benefit Plan are paid out upon retirement, death or disability.

In contrast, a Cash Balance Plan is a Defined Benefit Plan designed to look like a Defined Contribution Plan. Each year a member is allocated a contribution, defined by plan terms, and his "theoretical account balance" grows at a plan defined investment rate of return. Cash Balance Plans provide funding flexibility and are usually designed to provide a lump sum option at termination or retirement.

With Enrolled Actuaries and years of experience, Beyer-Barber Company is prepared to handle the complexities of both Defined Benefit and Cash Balance Plans.


Beyer-Barber will provide the following services with respect to Defined Benefit and Cash Balance Plans:

  • Annual Actuarial Valuation Reports
    • Determination of eligible employees
    • Calculation of accrued, accrued vested and projected benefits
    • Selection and monitoring of actuarial assumptions
    • Determination of plan liabilities
    • Determination of actuarial gains and losses
    • Application of actuarial funding and asset valuation methods
    • Reconciliation of plan assets
    • Determination of minimum required, recommended and maximum deductible cost levels
  • Individual participant statements
  • IRS Form 5500 Series
  • Summary Annual Report (SAR)
  • Participant Benefit Calculations and Election forms
  • PBGC Filings
  • FASB disclosures
  • Benefit improvement studies
  • Forecast Actuarial Valuations
  • Plan terminations
  • Plan mergers and spin-offs
  • Plan document, amendments and submissions
  • Ongoing monitoring of legislative and regulatory development
  • Ongoing consulting on plan design and plan operation
  • Qualified Domestic Relations Order (QDRO) review

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