04 Oct Union Member Benefits
Most Union pension plans continue to struggle with providing their members with an adequate income replacement upon retirement and fall short of the industry average both in the public and private sectors. We understand the pressures that Pension Committee members have with keeping their fiduciary responsibilities with sustaining healthy pension plans at reasonable cost to the union members. CBC’s actuaries work directly with the committee members to develop cost effective strategies to increase your plans benefit levels while providing negotiating tactics for cost sharing with the plan sponsor.
The proven results from our current clients:
· Increased income replacement level from 35% to 45%
· Decreased Pension Administration Cost by 24%
· Automated Pension Administrative Functions
· Call Center Support Services
· Town Hall meetings for Communication & Education
CBC has increased our awareness of the roles and responsibilities of all the key stakeholders which has enabled us to make the best decisions to obtain our goals as Pension Committee members, as well as provide the best possible benefit to our members at an affordable cost.
PC. D. Russell
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