Changing times may require all of us to take a long hard look at our drug-and-alcohol policies Employers often feel that they’re between a rock and a hard place when it comes to drugs and alcohol in...
Your benefits plan should be a strategic advantage to your business
With increasing financial success, the Jones Family had concerns their estate was not properly organized. Their primary concern was how to protect the next generation. Their CFO was overwhelmed managing the Family’s group of companies along with their personal finances with little time to address these important planning issues.
Penmore was brought in to evaluate the current business structure, to identify the owners’ long-term estate planning goals; and to build and implement a plan that would organize the estate properly and efficiently “pre” and “post” death.
Turner and Porter had previously bought a Benefits Plan that had a low upfront cost, however then prices rose dramatically in subsequent years. In addition to lack of cost containment, the account handling was impersonal and both the business owners and employees were finding the working relationship difficult.
Penmore was asked to come in and provide a complete review of the program, the competitive framework, and work directly with the company on negotiation with carriers.
The CDI HR team was faced with two completely different plan designs due to an acquisition. This made it difficult to keep track of who is part of what plan and this caused many problems for their payroll department.
CDI has asked Penmore to create one plan design for all divisions and design it around cost containment and future affordability. Penmore was also asked to look into benefit options for the 1000 Independent contractors situated throughout the country.
KGHM international and DMC Mining Services Inc. were in the process of bringing both benefit plans under one umbrella with common plan designs and blended rates. Both plans were insured with Standard Life which was purchased by Manulife financial.
Penmore had to not only do an analysis of the various plan designs, but also the claims experience and the rates of both groups. A cost analysis was also completed.
Luxottica HR team is based out the U.S office handling a Canadian Pension Plan. They had issues understanding the Canadian Marketplace and pension rules. What worked in their US pension plan may not have necessarily work in Canada.
Luxottica appointed Penmore Benefits Inc. as plan consultants in 2013 after identifying gaps in overall management of their Defined Contribution Pension Plan (DCPP). They expressed their concerns with the service issues and wanted Penmore opinion on the Retirement landscape.