A cost study is a review of pension plans comparing the demographic and economic assumptions and trends. These studies will evaluate the financial integrity and funding condition of a plan. For new employers, a cost study will help determine the cost to enroll a defined benefit pension plan. Cost studies typically take within six to eight weeks after we receive all the necessary information.
When do I need a cost study?
- If you are a new employer.
- If you are adding a defined benefit plan.
- If you are making provisional changes in a defined benefit plan.
New employers and current employers may request a cost study and should contact a municipal specialist to discuss.