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Benefits and Pensions MonitorWho’s Who In Canadian ConsultingThis year, Benefits and Pensions Monitor’s Annual Report on Consultants follows the same approach that was introduced and well-received last year. In the pages that follow, you’ll find a combined Directory of Consultants who do business in Canada providing pensions and benefits, investment, healthcare, record-keeping and third-party administration, and software and technology services. The Directory, which starts on Page 77, lists the key contact information at each consulting firm. As well, there is a Listing Of Consultant Services, see Page 68, which identifies each firm’s services at a glance. This enables plan sponsors who are looking for a consultant to quickly identify those firms which satisfy their needs. Our Annual Report starts with an article on page 61 by Dan Cassidy, of Argus Consulting Ltd. Are You Getting Good Advice? looks at some of the things a plan sponsor should take into consideration to ensure they are getting good advice about their retirement plan. Then, Justin Bates, of iBace Consulting, examines the increasing use of third-party administrators in his article TPAs. Following is a brief description of what each area of consulting provides: GROUP BENEFIT CONSULTING SERVICES Group Benefit Consultants offer products and services to ensure a company’s objectives for its benefits and/or pension plans are being met and that the company’s arrangements are competitive in the market. Services include plan design reviews, analysis of financial arrangements, provider/carrier comparisons, management services, employee communication services, and governance and/or compliance assistance. INVESTMENT CONSULTING SERVICES Investment Consultants or Advisers offer products and services to maximize returns on employers’ pension plan (or benefit plan) funds. Tools used would include advice on carriers, performance measurement, portfolio modelling, policy development, fund management, information/ assistance on fiduciary responsibilities, and updates on regulation and compliance. HEALTHCARE CONSULTANT SERVICES Healthcare Consultants, often boutique-oriented, offer products and services to enhance and maintain the health of employees or the healthcare services department of a company. Focuses include disability and absence management, facilities operations and management, fitness and health programs, promotional programs, and advocacy. RECORDKEEPING AND THIRD-PARTY ADMINISTRATION SERVICES Recordkeepers and Third-party Administrators (TPAs) provide the day-to-day administration of benefit and/or pension plans. Services offered may include eligibility verification, claims adjudication and payment, billing, and forwarding of premiums to insurance carriers. SOFTWARE AND TECHNOLOGY CONSULTING SERVICES Software and Technology Consultants offer services and products to enhance the technological infrastructure of an organization. A consultant will visit the client, assess the current workflow, and recommend how that workflow could be improved. Once a system is decided upon, the consultant can integrate and/or implement the new system. |
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