Defined benefit plan administration
Defined benefit plan administration
With a culture built around creative solutions, flexibility, and quality, we help you face daily challenges including fiduciary responsibility, cost containment, overall quality, service level attainment, and participant satisfaction.
Whether you have historical data challenges, have struggled to comply with recent government regulations, or simply need to have your HR staff focused on critical objectives, Milliman has a solution. By leveraging our leading technology solutions, thought leadership and best practices, you receive comprehensive defined benefit solutions that deliver outstanding participant service, ensure compliance and accuracy, while managing plan expenses and mitigating risk.
History of excellence and commitment to the future
Actuarial excellence
Our strength as an actuarial firm provides the foundation for our defined benefit administration systems and service models.
Scale
Milliman is one of the largest:
- Global actuarial consulting firms as measured by the number of credentialed actuaries
- U.S. DB administration providers ranked by annual PLANSPONSOR DB survey
Comprehensive services
- Traditional pension and cash balance plans
- Corporate, public, and multi-employer
- Domestic and international
- Small to jumbo plans
- Broad industry spectrum
Commitment
Milliman has provided services to pension plans since 1947 and fully outsourced defined benefit administration services since 1992.
Broad spectrum of pension administration services
Milliman has extensive experience providing and supporting the full spectrum of pension administration models to best meet the needs of our clients and their participants, including:
Full outsourcing
Comprehensive pension plan outsourcing includes web portal/call center, data maintenance, real-time benefit calculations and projections, online retirement capabilities, retiree maintenance, payment processing, and educational content.
Co-sourcing
Partner with us to craft a custom administration solution that’s tailored to your needs, outsourcing select administrative tasks to Milliman pension experts and using our cutting-edge technology for peak efficiency.
Software as a Service (Saas)
The customizable Milliman Actuarial Retirement Calculator (MARC™) delivers administrative, calculation, communication, reporting tools backed by a robust data warehouse.
Defined benefit consulting
Consulting services include supporting you through various events including, plan design, plan amendments, mergers and acquisitions, divestitures and spin-offs, and legislative changes to meet your needs on an as-needed or recurring basis.
Risk mitigation
De-risking services include asset liability modeling/liability driven investment strategies, lump sum cash-outs, annuity placement and full plan termination support.
Plan termination
A pension plan termination includes many logistical and regulatory hurdles — managing costs, submitting government filings, and tracking down lost participants. Milliman’s integrated solution ensures a smooth and efficient plan termination process.
Communication services
Customized outcome-based communication services designed to overcome your program’s unique challenges and meet your overall objectives.
Related defined benefit plan administration services
Defined benefit plan consulting
Meet your goals and business objectives in the face of constantly shifting markets and regulations.
Total retirement outsourcing
Simplify retirement plan administration while enhancing employees’ understanding and value of their retirement program.
Frozen plan services
Implement a comprehensive, strategic approach to ensure participant benefits are paid while reducing costs.
Related defined benefit plan administration products
Millimanbenefits.com
Empower your retirement plan to achieve your business objectives through our state-of-the-art outsourcing services combined with leading-edge financial wellness education.
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.
Contact us
We’re here to help you break through complex challenges and achieve next-level success.
Contact us
We’re here to help you break through complex challenges and achieve next-level success.