Below you'll find a list of all posts from 2021
Key Benefit Concepts (KBC) is an actuarial and employee benefit consulting firm who has designed personalized benefit programs relating to wellness for our clients. When addressing employee benefits, wellness is an important factor to an overall comprehensive benefit program. Healthy employees are typically more focused, conscientious and hard-working. So, at KBC we practice what we preach! Our program is referred …
The impact of COVID-19 led to the cancellation of most in-person conferences in 2020 and many so far in 2021. We hope in 2022, more conferences will open up to in-person. Key Benefit Concepts (KBC) enjoys being affiliate members of many government employer associations. We look forward to sponsoring, attending, speaking and most of all having a booth at conferences …
Key Benefit Concepts has had the opportunity to speak at conferences across the country. We have spoken on topics such as post-employment valuations (OPEB 101), post-employment trusts, recordkeeping in the business office, HIPAA, when is a gift a gift and many other topics. If you have heard Key Benefit Concepts speak on a topic you love and would like us …
Key Benefit Concepts (KBC) is an actuarial and employee benefit consulting firm who has designed personalized benefit programs relating to wellness for our clients. When addressing employee benefits, wellness is an important factor to an overall comprehensive benefit program. Healthy employees are typically more focused, conscientious and hard-working. So, at KBC we practice what we preach! Our program is referred …
How are they determined? As discussed in a previous post (Decrement Rate Assumptions – What are They?), the background and definition of decrement rate assumptions were established. However, you may be wondering how do we determine the probability of these decrements? Because we serve public employers, their employees are members of a state pension plan. For Wisconsin, this is the …
Decrements are events that cause an employee to no longer be employed with you. This could include death, termination, disability, and retirement. Your OPEB valuation reflects the possibilities of each of these decrements through decrement rate assumptions. Towards the end of your report, in a section we title the “Technical Appendix”, you can find details of the decrement assumptions. They …
Most of you know the importance of HIPAA compliance. If you are not compliant and an audit occurs, it can be very costly and determinantal to your company. Sometimes it is a struggle making sure everything is compliant and if it is not, you may not know where to begin. That’s where Key Benefit Concepts can help! Key Benefit Concepts …
This Year, Key Benefit Concepts will be attending two conferences. ASBO, the first Conference KBC will be attending is from October 13-16 in Downtown Milwaukee, Wisconsin. The second is FASBO, the Florida Conference will held in Orlando this year and the dates for that are October 12-15. ASBO, brings in close to 1,000 different school business leaders from around the …
GASB statements require an actuary to update the tables of your organization’s post-employment valuation in the year between valuations. Table updates are just that – updates to the tables provided in the prior year’s valuation. That means a new valuation is not completed, but rather the tables illustrating obligations, etc. are updated to include in the organization’s financial reports for …
Even if you don’t offer an OPEB plan to your retirees and they are only allowed to self-pay medical premiums directly to a state plan (e.g., the ETF plan in Wisconsin), there may still be a liability that needs to be valued. It’s similar to a group health plan that’s fully insured, and retirees pay you, the plan sponsor, the …
