Milliman's total retirement outsourcing services enable employers to simplify their retirement plan administration role while enhancing employees’ understanding and value of their retirement program.
Bringing the best of outsourcing to the whole retirement package
Milliman has extensive experience in the administration of both defined benefit and defined contribution retirement plans. Milliman's total retirement outsourcing services provide an integrated and cost-effective solution for all plans.
Advantages for plan sponsors include:
- Greater visibility of the value of benefits to employees
- Access to advanced benefits-management technology without capital investment
- A single transmission of census data for both 401(k) and defined benefit plans
- A single point of contact for the retirement-vendor relationship
- Combined nondiscrimination testing
The increased efficiency of having a combined retirement benefit administration decreases the amount of time human resource professionals spend on paperwork and increases the attention they can give to employees' other needs.
Advantages for employees include:
- Integrated communications on all retirement benefits
- Access to plan information, such as projected retirement savings and total value of benefits, through a customized website
- Preretirement assistance, benefit calculations, and other customer service through one call center phone number—one point of contact for questions
Advice without conflicts of interest
Milliman partners with its clients to assess their needs and works closely with organizations to put together a customized administrative package. As an independent service provider that does not sell financial products, we offer unbiased advice. All of our recommendations are based solely on the best interests of our clients and their participants.