Keenan Adds Govt. Benefits Consulting Arm

May 16, 2006 ( - Keenan, a California insurance brokerage and consulting firm, has formed the Keenan Financial Services department to address the needs of its public sector clients.

According to a Keenan news release, the new unit will provide:

  • third-party retirement plan administration,
  • an asset investment portfolio platform, and
  • a compliance program to meet impending deadlines for Governmental Accounting Standards Board (GASB) 43 & 45 standards.

“As government entities come to terms with how to pay for promised future benefits, they are also confronting an increasingly complex regulatory burden,” said Steve Gedestad, Executive Vice President of Keenan Financial Services, in the¬†release.

Gedestad continued, “Keenan Financial Services is designed to provide expertise to these organizations, which have never had to make decisions involving investments and returns on the scale they now face. Keenan Financial Services has a primary goal of helping local governments to get the most effective use from their available funds, while assisting them to explore potential ways to reduce their future liability.”

Keenan provides insurance, consulting, administrative and financial services to California public agencies, schools and health care organizations, including employee benefits, claims administration, workers’ compensation, retirement programs, and property and liability. For more information, go to .