Tom Carrabine

Principal and Relationship Manager

Dallas, TX, US

Tom Carrabine is a principal for Milliman’s Employee Benefits Administration and Consulting Taft-Hartley Defined Contribution Practice. Tom also sits on Milliman’s Employee Retirement Committee. He joined the firm in 2016.

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Experience

Tom’s consulting experience is focused in plan design and operational efficiencies to meet the unique needs of multiemployer, defined contribution retirement plans. In this role, Tom works exclusively with Taft-Hartley plans and consults with management and labor trustees, as well as plan professionals on plan design, continuing education, administration, compliance testing, and regulatory changes.

Prior to joining Milliman, Tom spent over 10 years at John Hancock Retirement Plan Services (JHRPS) where he was a Director and Strategic Relationship Manager within the Taft-Hartley practice. Previously, he held the same position at New York Life Retirement Plan Services, which merged with JHRPS in April 2015. Tom has worked in the retirement industry since 2002, during which a vast majority of his experience has been with multiemployer clients. Tom was an investment consultant with Clark Consulting (now Meketa Consulting) in Chicago. Tom also served in a number of roles within the State of Illinois Office of the Governor and Secretary of State.

Professional Designations

NASD Series 7 securities license
NASD Series 63 securities license
State of Illinois Insurance Producers license

Education

MBA, The University of Chicago - Graduate School of Business
BA, Loyola University of Chicago

Affiliations

Member, Irish-American Labor Council of Greater Chicago
Member, International Foundation of Employee Benefit Plans

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Publications

Read their latest work

Article

Milliman’s collaboration with the HealthWORKS Coalition puts existing multiemployer 401(k) plans in the clear with respect to the automatic enrollment rules of SECURE 2.0

31 January 2025 - by Gerald Erickson, Tom Carrabine

Milliman work leads to IRS clarification that protects trade union benefits.

Article

Multiemployer Review: Balance forward defined contribution plan challenges in turbulent times

13 May 2020 - by John Donohue, Tom Carrabine

This article provides an overview of the distribution process and why now may be a good time for trustees to consider moving the defined contribution plans to a daily valued environment.

Article

Implement a 401(k) component to offset healthcare costs in retirement

20 February 2020 - by Tom Carrabine

With rising healthcare costs and people living longer, trustees of multiemployer plans may want to ask themselves: How can we better support our members in retirement when addressing healthcare costs?

Tom Carrabine

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Experience

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Read their latest work

Milliman’s collaboration with the HealthWORKS Coalition puts existing multiemployer 401(k) plans in the clear with respect to the automatic enrollment rules of SECURE 2.0

Multiemployer Review: Balance forward defined contribution plan challenges in turbulent times

Implement a 401(k) component to offset healthcare costs in retirement

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Tom Carrabine

Experience

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