Retirement & Benefits Solutions
Public plans
Keeping the retirement promise
Government employers want to provide for retired workers but face challenging markets, changing demographics, and complex financial reporting requirements. Milliman offers industry-leading expertise in public plans. Our data, experience, and tools help you manage costs and risks while maximising benefits to employees.
Milliman public plan solutions
Defined benefit consulting
Unlike the private sector, most state and local governments still offer traditional defined-benefit pension plans. Milliman is dedicated to helping these plans use taxpayer dollars efficiently while providing competitive benefits to attract the best employees. Our dedicated, expert teams assist with forecasting, risk management, communications, and more.
Health and welfare benefits
Diversified employee benefits can be a powerful tool for attracting and retaining public-sector talent. We help you design, manage, and optimise high-quality plans for reasonable cost. With broad experience, technical excellence, and independent judgment, Milliman ensure your deliver great value for taxpayer dollars.
GASB 74/75 Consulting
Postretirement benefit plans are still adjusting to new accounting rules under GASB 74 and 75, which feature increased reporting requirements and new actuarial methods. Milliman has worked with plan sponsors to adapt to these changes since they were first announced and continues to provide leading expertise and services.
Milliman Sustainable Income Plan (SIP)
Traditional defined benefit and defined contribution plans fall short in balancing the needs of employers, employees, and society at large. Milliman SIP stays funded in all market conditions and provides lifelong increasing benefits to retirees, all with stable, predictable contribution requirements.
Milliman public plan insight
Milliman public plan products
Milliman Actuarial Retirement Calculator (MARC)
Administer defined benefit and cash balance pension plans with one of the industry's leading retirement planning and communication tools.
GASBhelp
Comply with GASB 75 requirements through easy-to-answer questions and step-by-step guidance.
Milliman public plan services
GASB75 compliance
Adapt to the increased reporting frequency and detail required by new regulations with expert guidance.
Defined benefit plan consulting
Meet your goals and business objectives in the face of constantly shifting markets and regulations.
Defined benefit plan administration
Maximise the value of pension benefits to participants using our decades of experience, flexible software tools, and disciplined process.
Milliman Sustainable Income Plan
Get the best of both worlds with an innovative retirement plan design combining the benefits of defined benefit and defined contribution plans.
Defined contribution plan consulting
Succeed with comprehensive services including plan design, mergers, data integrity, and compliance services.
Defined contribution plan administration
Navigate the complicated maze of defined contribution administration to provide accurate recordkeeping, transparency, and compliance.
Discretionary investing consulting
Develop appropriate investment policies and strategies with an integrated process to help meet long-term asset allocation and funding goals.