Over the last 40 years there have been remarkable changes in employee benefit plans. Pension plans have had to cope with ERISA funding and qualification requirements. Health plans have had to manage medical costs and an evolution of delivery systems. During this time the professionals at O’Sullivan Associates have been leaders in bringing funds creative cost containment and plan design ideas to meet their objectives.
We are a team of nine employees including four senior (credentialed) professionals that provide consulting services to over 30 Taft-Hartley clients in a variety of industries across the Midwest and Mid-Atlantic States. In aggregate, the funds we service cover approximately 150,000 participants with over $4 billion in assets.
Below are some of the services we provide for our clients:
- Create plan designs that provide members with economic security while encouraging cost-effective use of benefits.
- Design and implement plans to control costs.
- Identify and project the effects of benefit plan changes, and assess and minimize the liabilities associated with benefit plans.
- Prepare detailed benefit plan cost projections based on past performance and detailed assumptions as to future trends, and monitor and interpret benefit plan results through comprehensive analysis of trends, statistics, and other factors that affect cost and performance.
- Develop funding strategies that support appropriate benefit levels while avoiding unnecessary or redundant expenses.
- Evaluate and negotiate with service providers.
- Prepare special studies on the cost impact of trends and social/financial issues.
- Minimize the confusion and cost of compliance with state and federal laws
- Prepare comprehensive plan documents and communication programs for members.