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Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In July, these pensions experienced a $12 billion increase in funded status due to robust investment returns of 1.15% for the month. Assets increased by $13 billion in July, with the PFI deficit falling from $120 billion to $108 billion, while pension liabilities increased by $1 billion due to a slight dip in the benchmark corporate bond interest rates used to value pension liabilities. The funded ratio climbed from 92.7% at the end of June to 93.4% as of July 31, the highest it’s been in a decade.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, is pleased to announce the recipients of this year’s Opportunity Scholarship program. This scholarship program, now in its second year, was created to assist students from ethnic groups and races that are under-represented in the fields of actuarial science, data science, computer science, economics, programming, mathematics, statistics, data analytics, or finance.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the 2018 second quarter results of its Public Pension Funding Index (PPFI), which consists of the nation’s 100 largest public defined benefit pension plans. In Q2, these plans experienced a $23 billion loss in funding, largely due to a lackluster asset performance of 0.70% in aggregate. The plans earned approximately $45 billion for the quarter, below assumed investment returns reflected in liability calculations. This shortfall is exacerbated by $28 billion flowing out of the plans, as benefits paid out exceeded contributions coming in from employers and plan members. The PPFI funding ratio dipped slightly from 71.4% in Q1 2018 to 71.2% in Q2.

Seattle – Milliman, Inc., one of the premier global consulting and actuarial firms, today announced the appointment of Gary Setterberg to the position of Senior Managing Director, Global Higher Education Practice, and the creation of a multi-disciplinary practice dedicated to providing employee benefit and human capital advisory and strategic consulting services to higher education and academic medical system clients.

Istanbul—Milliman, Inc., a premier global consulting and actuarial firm, today announced that it is expanding to Istanbul amidst growing demand for Milliman’s consulting services in the region. The Istanbul office will specialize in actuarial and strategic consultancy services for non-life, life and private pension, health, and employee benefits. Halil Kolbaşı, an experienced actuary who has worked both in the Turkish Treasury and with Turkish life and casualty insurers, will head the new office. This will be Milliman’s 14th location in Europe.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today announced the results of a new, independent analysis showing what a private flood insurance market could look like in New Jersey and New York. The study, which was conducted in collaboration with Risk Management Solutions, Inc. (RMS), modeled premiums for most single-family homes across the two states. It also analyzed the potential effect a private market could have on take-up rates – that is, the percentage of consumers eligible for flood insurance who then purchase it.

Seattle—Milliman, Inc., one of the premier global consulting and actuarial firms, today announced the expansion of its retirement administration practice, beginning with bringing together all defined contribution (DC) and defined benefit (DB) administration services nationwide. The unified structure and leadership allows Milliman to better serve existing clients and continue to expand services to a broader array of employers.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today announced that the company has joined the Alliance for Lifetime Income as a founding member. The Alliance, a newly launched nonprofit organization supported by 24 leading insurance and financial services organizations, is focused on educating Americans on the risk of outliving their savings and about the importance of protected retirement income.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today announced the results of its annual comprehensive study of universal life (UL) and indexed universal life (IUL) issues, which for the first time includes the reporting of sales by underwriting approach. The 11th annual Milliman study, “Universal Life and Indexed Universal Life Issues”, focuses on current topics relative to universal life with secondary guarantees (ULSG), cash accumulation UL, current assumption UL, and the corresponding indexed UL (IUL) versions.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In June, these pensions experienced a $23 billion increase in funded status, with the deficit of the Milliman 100 PFI plans falling from $141 billion at the end of May to $118 billion as of June 30. The improvement was due to an increase in the benchmark corporate bond interest rates used to value pension liabilities, which saw discount rates increase by 13 basis points from 3.99% to 4.12% over the same time period. The funded ratio for the Milliman 100 PFI jumped to 92.8% as of June 30, and would have been higher had it not been for June’s poor investment returns of -0.09%.

Tel Aviv—Milliman, Inc., a premier global consulting and actuarial firm, today announced that the firm is opening a new office in Tel Aviv, expanding its operations in the Middle East. The office will offer the full gamut of insurance and actuarial consulting services. Benny Gabbay, a leading figure in the Israeli insurance industry, and Daniel Sharon, until recently chief actuary of Phoenix Insurance Ltd, a leading Israeli insurer, will oversee the new office in Israel. Each brings a deep knowledge of the Israeli insurance market and over twenty years of industry experience to the firm.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In May, these pensions experienced a $2 billion dip in funded status as investment gains mostly offset a four-point decrease in the monthly discount rate. The funded ratio for the Milliman 100 PFI remains unchanged at 91.6% as of May 31.

Seattle—Milliman tonight received the 2018 Gold Quill Award of Excellence in Human Resources & Benefits Communication at the International Association of Business Communicators (IABC) Excellence Gala in Montreal.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today announced the availability of its annual research into the financial results and administrative expenses associated with Medicaid managed care plans. This year’s report marks the tenth edition of Milliman’s research, and combines the financial and administrative analysis into one comprehensive report including an in-depth examination of Medicaid managed care plans’ medical loss ratios (MLR), administrative loss ratios (ALR), underwriting ratios (UW ratio), and RBC ratios. The information is of significant value to the Medicaid industry as enrollment and revenue continue to increase year-over-year.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, recently released the results of its 2017 U.S. Group Disability Market Survey, a comprehensive report that analyzes the short- and long-term disability (STD / LTD) market, including sales and inforce business.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the 2018 Milliman Medical Index (MMI), which measures the cost of healthcare for a typical American family of four receiving coverage from an employer-sponsored preferred provider plan (PPO). In 2018, costs for this family will increase by 4.5%, approaching the lowest rate on record. Last year’s 4.3% increase was the lowest in the MMI’s 18 year history, and points to the recent deceleration in healthcare cost increases.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. In April, these pensions experienced a $20 billion improvement in funded status thanks to an increase in the corporate bond rates used to measure pension liabilities. From March 31, 2018 through April 30th, the monthly discount rate increased 12 basis points, from 3.91% to 4.03%; as a result, pension liabilities decreased by $26 billion for the month. The funded ratio for the PFI plans increased from 90.6% to 91.6%, despite a 0.11% investment loss that reduced index assets by $6 billion.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the 2018 first quarter results of its Public Pension Funding Index (PPFI), which consists of the nation’s 100 largest public defined benefit pension plans. In Q1, these plans experienced a $93 billion loss in funding, largely resulting from volatile equity markets that produced an aggregate -0.75% investment return for these plans. In comparison, the PPFI investment return for 2017 Q4 was 3.24%. From January 1, 2018 to March 31, 2018, the PPFI pensions saw their funded status drop from 73.1% to 71.4%.

Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its Spring 2018 Multiemployer Pension Funding Study (MPFS), which analyzes the funded status of all multiemployer pension plans in the United States. As of December 31, 2017, the plans achieved an aggregate funded ratio of 83%, the highest since the market collapse in 2008; a decade ago, the aggregate funded ratio of all multiemployer plans stood at 85%.

Seattle—Milliman, Inc., one of the premier global consulting, actuarial, and benefit administration firms, today announced it has added the International Union of Operating Engineers (IUOE) Local 25, Marine Division, as a defined contribution client. IUOE Local 25, Marine Division, covers approximately 2,000 participants in the dredging industry from Maine to Florida.