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Joel E. Stewart, FSA, EA, MAAA

Consulting Actuary
Denver, CO, US

Tel: +1 303 2999400

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Professional Designations

  • Fellow, Society of Actuaries
  • Enrolled Actuary, ERISA
  • Member, American Academy of Actuaries


  • BS, Mathematics with Actuarial Option, Pennsylvania State University

Current Responsibility

Joel is a consulting actuary in the Denver office of Milliman. He joined the firm in 1999 with three years of prior experience.


Joel’s area of expertise is in defined benefit pension plans. He specializes in valuations and administration, including benefit calculations, special studies for benefit changes, funding valuations, and FASB and GASB valuations.

Joel is the defined benefits practice manager for the Denver office, serving as lead consultant for the Denver office’s public sector, corporate, and multiemployer clients. Key tasks include presenting valuations, benefit projection studies, and other disclosures required by IRS regulations.

Joel also serves on Milliman’s GASB 67/68 Taskforce, which was established as a resource center and tool development to assist Milliman offices in the implementation of the new accounting standards.

Client projects have included ongoing plan valuation and administration, expense projections, asset/liability studies, development of simulation models for the redesign of benefit plans, and plan termination administration. He also performs replication audits, both externally for clients who have hired Milliman to audit their current actuary, and internally as part of Milliman’s stringent peer review process.

Presentations and publications

Joel has presented continuing education on various pension topics at Milliman’s annual Employee Benefits Consultants Forum.

  • Work at Milliman

    • “I was offered a chance to come in, shake things up, create something."
    Work at Milliman