Beyer-Barber Company - Employee Benefit and Actuarial Consultants

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municipal pension plans

Beyer-Barber Company - Municipal Pension PlansWe have developed the specialized talents necessary to meet the needs of municipal clients in their efforts to comply with the complex Act 205 legislation including the recently enacted Acts 44 and 51. This talent has been assembled into a team approach dedicated to providing comprehensive consulting services to our municipal accounts.

Our staff has extensive experience in preparing the annual, financial, and demographic analyses necessary to comply with the funding and reporting requirements of Act 205. Since the Act's inception, Beyer-Barber has conscientiously invested the time and effort needed to thoroughly understand its provisions. Through this process, our staff has developed important relationships with key personnel at the Auditor General's Office, the Public Employee Retirement Commission, and the Pennsylvania Municipal Retirement System.

We currently serve as actuary for over 300 municipal plans, including a number of Third Class City sponsored plans, some of which have been determined to be distressed pursuant to Act 205. We have developed in-depth experience in assisting these distressed plans to comply with the special funding requirements and to take advantage of the unique relief provisions of the Act.

In addition to developing the expertise required to address current state legislation, Beyer-Barber strives to keep abreast of pending legislation and court decisions that may impact our municipal pension clients.

Our services to municipal clients include:

  • Annual or biannual valuation reports as required by Act 205 for both Defined Benefit and Defined Contribution Plans
     
  • Act 205 Forms, AG385, AG490
     
  • GASB Pension Information
     
  • GASB 43 and 45 Postretirement Valuations and Disclosures
     
  • Minimum Municipal Obligation (MMO)
     
  • Drafting and review of Ordinance language
     
  • Expert testimony in arbitration hearings
     
  • Employee benefit certificates
     
  • Withdrawal of plans from Pennsylvania Municipal Retirement System to a self-fund pension program
     
  • Attendance at Pension Board Meetings, as requested
     
  • Benefit improvement studies
     
  • Cost of Living Provisions
     
  • Granting non-intervening military service for benefit purposes
     
  • Early Retirement eligibility based on service only

Our detailed knowledge of municipal plans, and our familiarity with the functions of Pension Boards, Administrations and City Councils allows us to provide our clients with the best service possible.

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