Segal conducts feasibility studies to give multiemployer funds an invaluable tool for making decisions about their benefits administration. Whether you are trying to decide whether to outsource certain administration processes, implement a new software system, or provide a new benefit to participants, Segal can help. Our feasibility studies focus on:
- Cost comparisons - both capital outlay and ongoing expenses
- Acquisition of hardware and software
- Staff requirements and training
- Quality and efficiency of service
With a realistic understanding of the risks and rewards of each option, our clients are able to make informed decisions based on real data.
With an increasing focus on administrative costs, many organizations are reviewing their internal and external costs related to administration. Segal can assist in reviewing your current method of administration and identify the most cost effective way of administering your benefit plan while maintaining a focus on the level of service provided to your membership.
Segal has worked with multiemployer funds, public sector entities, unions, VEBAs, training funds and TPAs to assist them in determining the most cost effective way to administer benefits while maintaining a high level of customer/member satisfaction. Some of the areas of administration we have reviewed as part of our feasibility studies include:
- Contributions Processing
- Pension Administration
- Health Claims Administration
- Annuity/401k Administration
- Vacation Fund Administration
- Legal Fund Administration
- Human Resources Administration
- Customer Service