Offered exclusively by Fessenden Consulting Group, Inc.
In these times of reduced revenue and increased employee benefit and retiree costs, many Cities and Counties are seeking revenue alternatives. Most Tennessee Cities and Counties are experiencing ever-increasing employee benefit costs. Health insurance premiums continue to increase. Often, raising taxes to pay for increased benefit costs, or reducing benefits as a way to cut costs, are common options considered by Cities and Counties. However, the Legacy Fund™ Program is another option for funding employee benefits.
Consider the following reports (click on the link below):
The Trillion Dollar Gap- Underfunded State Retirement Systems and The Roads to Reform
PEW CENTER ON THE STATES, February 2010
Credit Suisse GASB - Uncovering $1.5 Trillion in Hidden OPEB Liabilities for State and Local Governments
CREDIT SUISSE, March 2007
The Legacy Fund™ Program is an option to create an additional revenue source for the purpose of funding various employee benefits. For decades the business and banking world have funded employee benefits with this type of program.
The benefits of the Legacy Fund™ Program for Cities and Counties include:
The Tennessee Comptroller has reviewed this program and it is in compliance with Tennessee state law.
Fessenden Consulting Group (FCG), headquartered in Nashville, Tennessee, is an independent employee benefit consulting firm, family-owned and operated, and is unique in the way business is conducted. FCG's average client longevity is in excess of 20 years and have clients for whom they have consulted for 20, 25, 30 and even 40 years. These clients include both private businesses and government. On the average, FCG consultants have over 30 years of experience in the employee benefit field. Fessenden Consulting Group brings the relevant parties together to offer the The Legacy Fund™ Program to Tennessee Cities and Counties. FCG is responsible for educating appropriate City/County officials so that an informed decision can be made whether to implement the The Legacy Fund™ Program and coordinating all aspects of implementing and monitoring of the The Legacy Fund™ Program.
FCG has established relationships with:
To Learn More About The Lagacy Fund Program: