A small pension plan was underfunded and wanted to make up the funding deficiency within the next 5 years. Their actuary proposed a web site that would allow them to project participant liabilities and asset growth and determine what funding would be needed in order to cover the plan termination liability.
The actuary had worked with BTR on previous project and knew that the requirements of this unconventional project fit perfectly into existing BTR Web Solutions.
One the surface, this project could have taken months with costs well into the six figure range, but in one of the most impressive examples of BTR's powerful frameworks, this project took less than a week from concept to final web delivery.
Projected Assets and Liabilities: | ||||
Year | Assets | Liabilities | Payments | Contributions |
2003 | 4,760,000 | 9,484,000 | 676,000 | 1,072,000 |
2004 | 5,529,000 | 9,407,000 | 681,000 | 1,072,000 |
2005 | 6,351,000 | 9,336,000 | 698,000 | 1,072,000 |
2006 | 7,216,000 | 9,260,000 | 713,000 | 1,072,000 |
2007 | 8,132,000 | 9,181,000 | 736,000 | 1,072,000 |
2008 | 9,091,000 | 9,091,000 |