We are pioneers in the retirement plan industry, providing unparalleled benefits consulting and administration to employers for more than 60 years. Milliman is also a leader in the design and financial management of health and welfare plans, including retiree medical plans. From evolving workforce needs and rising benefits costs to today’s intricate and constantly changing regulatory and accounting environments, we work with you to develop viable solutions that go beyond mere numbers.
We have a complete grasp of federal and state regulations and a facility for balancing cost and risk management with employee benefit considerations. Our solutions come with a relationship that brings multiple perspectives focused on your constraints and objectives.
Milliman's Employee Benefits practice is a member of Abelica Global, an international organization of consulting firms that serves clients around the world.
Employers who want to provide their employees with more than nominal retirement benefits face a daunting realignment of those promises. While the challenges are significant, there are several promising ideas for addressing them. including DC plan optimization, increased participant education and guidance, behavioral incentives, and the possibility of layered longevity plans. None of these will solve the problems alone. Nevertheless, employers who sincerely want to help provide for the retirement of loyal workers need to be examining every possible way to make their retirement benefits work in today's complex retirement landscape.
A postretirement medical plan sponsor was faced with the challenge of how to optimize investment returns, minimize accounting expense, and minimize the potential of overfunding the plan. This case study details how Milliman's stochastic modeling tool, FutureCost, helped the client select investment allocations that offered the best return scenario.
Read more »Now that the outsourcing market is fairly mature, outsourcing benefits administration may be a good option, even for smaller companies. Internal administration is subject to growing cost pressures, increasing complexity, limited flexibility, and other inherent risks that can make outsourcing a more attractive alternative.
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