Creating intergenerational equity for past, present and future staff
Retirement Benefits Solutions
Our team has worked with hundreds of agencies resulting in the development of over twelve different cost mitigation strategies, including integrating a 115 Trust, all designed to reduce long-term pension costs and achieve and maintain a healthy funded status. Each cost mitigation measure is incorporated in a Pension Management Policy so that decision-makers can ensure all resources are utilized each year to manage ongoing pension costs. Once a Pension Management Policy has been established it creates disciplined, continuous proactive management practices for your entire team.
Pension Management Policy
A pension management policy is the first and most important step in managing your pension liabilities. Weist Law drafts pension policies that create ongoing actionable strategies, designed to increase budget predictability, reduce costs and act as a roadmap for future staff and governing body.
A Section 115 trust fund is dedicated to prefunding employer contributions to defined benefit pension systems, including OPEB and UAL costs. Funds placed into 115 trusts are sequestered for pension costs only. Properly designed and implemented,115 trusts are a very effective pension management tool.
Although the most common financing technique is Pension Obligation Bonds, there are plenty of alternative safer and more efficient ways to finance pension liabilities. Weist Law is an industry leading expert in creating innovative financing techniques that safeguard and save money for our clients.