In reviewing a client’s pension plan, Marris + Miller identified a benefit on a union agreement promised by the company. It turns out; the full cost of this promise was not defined for the management. While current liabilities were reasonable, there was cost trigger waiting to happen five years down the line.
Once we reviewed the collective bargaining agreement, we asked questions about an offset benefit. In this case, Marris + Miller acted as an independent trusted advisor, and we were able to create a solution that both the company and the union could accept. Our results saved the company millions of dollars.