Efficiently running your defined benefit (DB) plan could help you keep and attract a talented workforce. However, DB plans can also be exceptionally complex to administer, prone to errors and compliance omissions, and face participant service delivery issues.
If your HR staff are administering the plan in-house, the administrative and transactional responsibilities alone can be intense, regardless of whether the plan is open and accruing, closed or frozen.
By working with you as your administrative partner, we can help you alleviate resource constraints, administer plan complexities and manage compliance risks.
Our services range from co-sourced to fully outsourced and temporary assistance during times of critical business or staff change. We offer tailored solutions for both the mid and large markets.
Each solution includes a careful review and assessment as well as the project management expertise to work through the options and issues.
We’re here to help. Complete the “Connect with us” form today and we will be in touch with you to discuss how we can help relieve you of the administrative burden associated with your pension plan.
We work with employers to deliver superior administration services and offer a unique blend of expertise, flexibility and proactivity. Our solutions alleviate the administrative burden, help meet regulatory and legislative requirements, and empower employees to live, work and retire well. Our services include:
We can complete estimated and final pension calculations, such as individual benefit election packets.
As a client, you can use our plan sponsor self-service system to administer calculation processes and paperwork with support from our pension experts.
We can support your organisation through various change events, such as amendments, acquisitions and divestitures, spinoffs and mergers, legislative change or major systems changes, and meeting your needs on an as-needed or recurring basis.
This includes assessing retiree annuity, purchase-terminated vested cash-out offers and plan termination.
Full pension plan outsourcing includes a dedicated participant call centre/web portal, calculations, trust authorisations, data maintenance, online retirement capability, retiree maintenance and education content to allow your team to focus on more strategic functions.
By outsourcing all or part of your defined benefit plan administration, you provide your HR resources with more time to focus on the strategic issues of your organisation. We will help you achieve your long-term plan goals, quickly and efficiently implement risk-mitigation projects and address one-time or ad hoc projects, such as data clean-up, large calculation projects, plan changes and early retirement programs.
We will ensure your plan members have a best-in-class experience by delivering exceptional service and professionalism. We will provide members with the technology for online benefits modelling, including optional forms of payment and access to plan information.
We’d be happy to set up a free consultation or send you more information to get you started. Simply fill out the form below and we will be in touch. If you are an existing Mercer plan member and have a question about your pension or shares, please contact the JustAsk team via this link.