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Our business is defined benefit pension plans.

We represent companies, public and private, across all industries, in all stages of development; public and private investors; pension plans themselves; and local, state and federal government entities and their financial advisors on current or future pension issues.

We analyze transactions; identify core pension and bankruptcy issues; provide recommendations, options and strategies to work through plan modifications and terminations with the best, most cost-efficient and expedient outcomes.

We have unparalleled experience in all areas of bankruptcy as they affect pension plans, including key stakeholder relationships involving the debtor, creditors' committee, major creditors, equity holders and potential investors.

KGSR has hands-on experience in all facets of the bankruptcy process. We offer our clients a critical depth of knowledge of public and private pension issues. Our principals, Suzanne Kelly and Mo Garfinkle, bring more than 60 years of combined experience in maximizing options for our clients and resolving pension liabilities. We work creatively from start to finish, assessing issues, evaluating every option and recommending and implementing a strategic plan that meets our clients' objectives.

We bring a unique and unmatched understanding of the PBGC, which gives our clients an important edge. Suzanne Kelly represented the PBGC for more than ten years in distress situations. Her "inside the agency" knowledge can guide our clients through the PBGC process, assist them in understanding agency policy, advise them in responding to issues raised, and facilitate successful resolutions.

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KGSR brings an unparalleled depth and breadth of experience to potential investors who need to identify and mitigate pension issues in transactions. We have expertise structuring all types of transactions, from all perspectives. We bring additional and valuable experience evaluating transactions for the PBGC, identifying the risks that transactions pose to pension plans. Our investor clients are well aware of any and all risks and options before making a decision on whether or not to pursue an investment, and they look to us for guidance on how to structure the transaction.


investorsPrivate Sector Plan Sponsors

KGSR works directly with plan sponsors to choose options for resolving existing issues and identify issues they may encounter in the future. Suzanne Kelly's extensive experience at the PBGC brings valuable insight to navigating issues relating to terminating pension plans, settling liabilities, achieving support for minimum funding waivers and responding to demands related to 4062(e) events and transactions reviewed under the Early Warning Program.

 


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KGSR helps government plan sponsors identify issues with their current pension plans and craft strategies for the long-term resolution of structural issues and short-term funding issues. Our experience dealing with a variety of public and private sector entities gives us real world insight on identifying issues that will be raised by a variety of constituents and pro-actively recommending strategies to resolve those issues.


pensionPension Plans

In specific circumstances, such as in the resolution of multi-employer plan issues and government entity plans, the pension plan itself has a seat at the table in private sector and government restructurings. KGSR understands that it is vitally important that the plan be advised on all options to avoid an outcome that is more drastic than necessary. KGSR proposes solutions to pension plans that address the key issues of critical players in the process.


attendantUnions

KGSR can help both private and public sector unions facing increasing pressure in contract negotiations to compromise retirement benefits, whether or not the employer is currently in financial distress. It is important in these instances for unions to understand the specific pressures the employer faces, what issues may develop during the life of the contract, and what options exist for the unions so they can achieve the most secure retirement for their members, without unnecessary sacrifice of current compensation and benefits for members.

       

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