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Benefits and Actuarial Committee (B&A) Meeting VRS, 1111 E. Main St., 3rd Floor Board Room Wednesday, 10/18/2023 1:00 3:30 PM ET I. Welcome and Introductions II. Approve Minutes B&A Minutes 6.14.2023-Page
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01
Identify the purpose of the benefits and actuarial committee.
02
Determine the members of the committee, including representatives from HR, finance, legal, and other relevant departments.
03
Schedule regular meetings to review and discuss benefits offerings, actuarial reports, and recommendations.
04
Collect and analyze data on employee benefits usage, costs, and trends.
05
Collaborate with external actuaries and consultants to ensure compliance with regulations and best practices.
06
Make informed decisions on benefits changes and adjustments based on committee discussions and recommendations.
07
Communicate changes to employees and stakeholders effectively to ensure transparency and understanding.

Who needs benefits and actuarial committee?

01
Any organization that offers benefits to its employees can benefit from having a benefits and actuarial committee.
02
Large companies with complex benefits packages and diverse employee populations may particularly benefit from having a dedicated committee to manage and optimize benefits offerings.
03
Companies looking to stay competitive in attracting and retaining top talent may find value in having a committee that can tailor benefits to meet the needs and preferences of employees.
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The benefits and actuarial committee is a group responsible for overseeing and making decisions related to employee benefits and actuarial matters within an organization.
Organizations that offer employee benefits and have actuarial considerations are required to file benefits and actuarial committee.
The benefits and actuarial committee is typically filled out by HR personnel, finance professionals, and actuaries who have knowledge of employee benefits and actuarial matters.
The purpose of the benefits and actuarial committee is to ensure that employee benefits are managed effectively and actuarial calculations are accurate.
Information such as employee benefit plans, actuarial valuations, funding status, and any changes to benefit offerings must be reported on the benefits and actuarial committee.
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