Review. Recalculate. Recalibrate.

The Miravite Actuary speaks on how the company can be resilient on its retirement plan obligations during and after the COVID period. Review. Recalculate. Recalibrate. Big and small companies are reevaluating their cash flows, financial liabilities, and operational capacities. The new normal requires revised forecasts of market demand under a new technological platform. Companies also need to revisit the retirement plan to optimize its financial liabilities and the employees' benefit security. With both market interest rates and stock prices showing sharp declines and staying low, retirement plan liabilities will increase while the trust fund assets will decrease. Whether the company holds a DB plan or a DC plan, there are best practices that will soften the immediate economic impact and mitigate the long-term risks. Now is the time to talk to your Miravite Actuary. Review. Recalculate. Recalibrate. The Miravite Actuary recommends the review of the workforce scenarios for 2020 and the recalculation of the PAS19 financial forecasts reflecting current market interest rates. With these key updates, the Miravite Actuary can further help the company recalibrate the budget for 2020/21, the optimal retirement plan cash flow funding, and perhaps the right retirement plan for the new normal.