In today’s environment, companies are struggling to find the balance between providing adequate levels of benefits for current and future retirees with reasonable costs. Cowden Associates, Inc. provides the following analytical services:
- Review of the entire existing medical and life insurance programs for current retirees in order to determine what alternatives exist that would make the plans more effective. This process includes a detailed examination of plan designs, administration, funding and communications.
- Analysis of the existing contribution levels for current hourly retirees. We review the historical methodology utilized in applying contribution levels and determine if a more efficient approach could be applied.
- Determination of options that should be considered for future retirees (including those who are currently retirement eligible) in order to determine if an alternate plan or plans should be considered.
- Determination of options that should be considered for new hires.
Our analysis of each of these phases details the impact on the company from a financial statement basis (P&L and balance sheet), cash-flow and taxes. Furthermore, our analysis includes a review of the impact of any proposed changes on current and future retirees. Where the analysis indicates change, we will provide you with expertise and assistance implementing alternate programs.