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William Strange

FSA, EA, MAAA
Principal and Consulting Actuary
Dallas, TX, US
1 214 863 5056

William Strange is a principal and consulting actuary in the Dallas office of Milliman, where he partners with plan sponsors to design and implement employee benefit plans tailored to their strategic goals.

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Experience

William has worked in the retirement consulting field since 2007, with prior experience at Buck Consultants and Fidelity Investments. Clients look to William to provide proactive consulting advice on how to mitigate benefit plan risk and leverage plans to achieve workforce planning goals. His expertise includes:

  • Conducting actuarial valuations for defined benefit and retiree medical plans
  • Designing defined benefit and defined contribution plans (qualified and nonqualified)
  • Optimizing cash balance designs for professional service firms
  • Performing merger & acquisition due diligence
  • Making projections to evaluate future retirement design changes
  • Consulting on Liability Driven Investing strategies to manage pension risk
  • Conducting global accounting consolidation
  • Consulting on plan administration outsourcing alternatives

William has presented at professional conferences and corporate meetings on a variety of employee benefit topics.

Publications

Read their latest work

Article

How much should high earners save for retirement each year?

13 November 2025 - by William Strange
We discuss a challenge for high-income professionals: the need to save aggressively to maintain their standard of living in retirement.
Video

Insights from Milliman’s 25th Annual Corporate Pension Funding Study

28 May 2025 - by Zorast Wadia, William Strange
Study author Zorast Wadia and cash balance expert William Strange review the results of the 2025 Corporate Pension Funding Study.
Article

Why are cash balance plans used to supplement 401(k) plans for higher-paid employees?

04 March 2025 - by Scott Preppernau, Neil Hagin, William Strange
We examine how cash balance plans can serve as a powerful supplement to 401(k)s, offering an effective solution for long-term financial security.
Article

Market-based cash balance plans (MBCBP): Frequently asked questions

06 November 2024 - by Scott Preppernau, William Strange
We answer some FAQs to help employers decide whether to sponsor a market-based cash balance plan.
Article

Unfreezing a defined benefit pension plan: 10 frequently asked questions

14 August 2024 - by Bret Linton, William Strange, Zorast Wadia
As many frozen pension plans face a unique opportunity to reopen to new participants and leverage excess assets, we answer some common questions from plan sponsors.
Article

SECURE 2.0, Part 2: How the new retirement law affects single-employer defined benefit plans

23 May 2023 - by Nina Lantz, William Strange
Milliman employee benefit experts discuss the potential impact on veteran employees, the future of corporate DB plans, and the Act’s other implications for pensions.
Article

Pension risk management: COVID-19 FAQs

31 March 2020 - by William Strange
These FAQs help you thoughtfully consider the potential effects that market volatility resulting from COVID-19 can have on your plan.
Article

What can plan sponsors do with plummeting interest rates?

04 October 2019 - by Arthur Rains-McNally, William Strange
This article presents perspectives on the challenges of the current interest rate environment.
Article

Is your pension plan ready to terminate?

07 May 2019 - by William Strange
For plan sponsors that have resolved to terminate their plans, they typically turn their attention to two important factors: financial and operational readiness.
Article

Impending merger or acquisition? The health of employee benefit programs can be a make-or-break issue

05 March 2019 - by William Strange
Employee benefits programs can deeply affect a potential merger or acquisition, sometimes to the surprise of the acquiring company.