Plan Redesign and Revision

 
As conditions change, including the economic and regulatory environment in which employee benefit plan sponsors find themselves, it may become necessary or desirable to modify employee benefit programs. The revision of a plan is often more involved than its initial establishment since special attention must be given to the rights of participants under the existing program(s). The impact of a proposed change on employees, stockholders, management, industrial and public relations, and possible conflicts between existing plans must also be considered along with the employee benefit philosophy upon which such plans were first established. BSG will assist in every phase of redesigning and revising your plan. The variety of services under this section include those listed above under other sections. We will also provide you with information regarding:

  • The desirability of redesigning employee benefit programs
  • The type of programs available to you and their relative merits
  • The appropriateness and desirability of the various programs for your circumstances
  • Developing an optimal design for you
  • The approximate cost of adopting and maintaining each benefit program considered
  • Types of insurance coverages available to fund benefit programs
  • Notification of changes in governmental regulations
  • Information on current trends and developments
  • Development of customized plan documentation and disclosure materials