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Public Sector Consulting
The Segal Company serves as employee benefits, actuarial,
compensation and human resources consultants to the full range of public sector
clients: state and local governments, statewide retirement systems and health
plans and federal government agencies and
colleges and universities.
Services
Our consulting services for public sector clients include the planning, design,
qualification, implementation, operation and communication of:
The Segal Company's actuarial services include the design of defined benefit and defined
contribution plans, the preparation and review of actuarial valuations, the valuation of
retiree health plan liabilities and obligations, long-term disability plans and other health
programs. The company's actuarial reports pinpoint significant findings, present available
options, explore alternatives, measure assumptions and highlight changes and trends. Our
professional actuarial staff includes Fellows and Associates of the Society of Actuaries,
Members of the American Academy of Actuaries, Fellows and Members of the Conference of
Consulting Actuaries, Enrolled Actuaries and Fellows of the Canadian Institute of Actuaries.
Investment Services
Investment performance services are provided by Segal
Advisors, the investment-consulting affiliate of The Segal Company.
Leadership in the Public Sector
In partnership with our public sector clients, we have developed cutting-edge benefit approaches
that provide secure retirements and quality health care for public employees. Offering nearly
universal coverage and comprehensive benefits requires sponsors of public sector plans to continually
search for cost efficiencies and innovations.
- The Segal Company is a leading architect in the design and implementation of retirement plans
and health care alternatives that provide employees with expanded choice and employers with more
financial and quality control. Strategic benefits planning is the key tool we use to assess the
current environment, develop future directions, identify long-term goals and implement change for
our clients.
- Just as health care benefits in the private sector were revolutionized in the 1980s through
managed care and flexible benefit programs, retirement benefits are now being reevaluated.
Working with our public sector clients, The Segal Company has developed pension plan alternatives
that combine characteristics of both defined benefit and defined contribution plans. These
"hybrid" plans are innovations that reward both career employees and attract high-quality
individuals to public service.
- The Segal Company is leading the way in assisting public benefits professionals with the selection
of technology that will enhance customer service, promote administrative efficiency and streamline data
collection. Our clients, having tapped into our expertise, are using technology as a tool to prepare
for servicing a growing retiree population, develop electronic enrollment programs, install interactive-voice
response systems and improve internal communication.
- The Segal Company's leadership role in national public sector organizations is widely recognized,
as is our role in the review and development of public employee benefit programs. Our professionals
are frequent speakers, authors and advisors to organizations such as the National Association of State
Retirement Administrators, National Council on Teacher Retirement, Government Finance Officers Association,
National Association of Government Deferred Compensation Administrators and the National Association of
Public Pension Plan Attorneys.
- Seeing a need for a state and local government health benefits organization, The Segal Company was
instrumental in the founding of the State and Local Government Benefits Association (SALGBA). Today,
nearly 15 years after our initial sponsorship and organization of its first two conferences, SALGBA is
a thriving organization devoted to the special issues and challenges confronting public sector health
benefit plans.
- Serving as a source of information and resources is a contribution of The Segal Company to
the public sector. Annually, we survey each of the 50 states and report on how state employees
and retirees receive health care benefits. Recently we wrote two guides for the public sector
retirement community, An Elected Official's Guide to Public Retirement Plans and Pension
Simplification 1996: An Implementation Guide for Public Sector Employers, both published by the
Government Finance Officers Association. We will continue these and other efforts that support
the public sector and provide leadership by identifying trends that shape public employee benefit
plans.
Information
- Research and Compliance Although The Segal Company does not practice law, our
national Research and Compliance Departments are available to
share information with our clients and their attorneys. The company's Research Department provides
the consulting staff with information on current and pending federal, state and local laws and
regulations affecting employee benefit plans. When late-breaking developments can potentially affect
a client, the consultants involved alert the client by telephone, letter or both. In addition, clients
are encouraged to contact Segal Company staff members who are familiar with their work whenever a
question arises about an issue that can affect their plan. (However, because The Segal Company does
not practice law, if a legal issue arises, clients are advised to consult with their attorneys for
authoritative guidance.) In addition, we offer a separate service, called
CrosscheckSM,
that provides specially trained experts to conduct
an operational review of a client's administrative procedures to help a client and its legal counsel
determine whether plan operations are meeting legal and regulatory requirements, and are consistent with
what the plan promises.
- Publications Publications of interest to sponsors of public
sector plans include Public Sector Letters, which discuss creative benefits, compensation
and human resources design issues, Bulletins, which describe major legislative, regulatory or
accounting compliance developments and occasional Segal Alerts, which summarize important pending
legislation that can affect benefit plan sponsors. For more than 20 years, we have conducted an annual
survey of state employee health benefit plans.
- Seminars and Workshops The Segal Company sponsors and conducts educational workshops
and "breakfast seminars" that address recently-passed legislation or an issue of current interest.
Benefit consultants invite clients and friends of the firm to these functions and will follow up with additional
information and consulting that is relevant to a particular client.
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