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GLOBAL CONSULTING SERVICES

International retirement and benefits consulting for U.S.-based multinationals

For large American firms with employees around the world, Milliman offers strategic retirement and benefits consulting to help clients reduce costs and risks, enhance operational efficiency, and take control of their pension and benefit plans worldwide.

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OVERVIEW

Milliman’s consulting services for multinational companies

Global actuarial consulting services

  • Accounting coordination & consolidation
  • Actuarial valuations and advice
  • Funding & investment strategy
  • De-risking & plan terminations (including annuity purchase)
  • Global governance & oversight

Global benefits management services

  • Independent audits & benchmarking
  • Global benefits management & brokerage
  • Global governance & oversight
  • Global strategy & plan design
  • Global health & well-being
  • International & expat benefits
  • Multinational pooling & captives

Global merger & acquisition services

  • Target evaluation
  • Due diligence
  • Integration planning & implementation
  • Project management office
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JOINT VENTURE

MBWL: Benefits consulting for multinationals based outside the United States

Milliman’s joint venture with Barnett Waddingham, Lurse, and Normandin Beaudry offers retirement and benefits consulting for multinationals of all sizes, everywhere they do business. MBWL brings together 7,000+ experts in more than 35 countries to develop tailored solutions in finance, HR, and M&A.

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GLOBAL ACTUARIAL CONSULTING

Global actuarial consulting services for retirement plans

A proactive, tailored approach designed to meet each plan sponsor’s specific challenges.

Managing global retirement plans

Solutions for U.S.-based multinational companies

As a large multinational organization, you face a unique set of challenges, with the management of your global defined benefits and defined contribution retirement plans at the top of the list. While these plans provide a valuable employee benefit, if they are not structured and handled effectively they may create new challenges, including balance sheet and cash funding risks, uncertainty due to market volatility and changing regulations, operational inefficiencies, and misalignment with broader business objectives.

employees in open-plan office
Services

How Milliman can help with global retirement plans

Our comprehensive suite of global and local actuarial and consulting services is designed to ease these pressures, across defined benefit and defined contribution retirement plans. We provide strategic advice, expert actuarial and accounting support, best-in-class processes and technology, and an independent approach to plan design, de-risking, and investment strategies.

Our actuarial and consulting services include:

  • Global and local accounting disclosures and valuations
  • Funding valuations and advisory services
  • De-risking and plan terminations
  • Governance and oversight
  • Plan design and administration
  • Independent audits and second-opinion reviews
  • Employee communications

4,000+ plans

We serve the full spectrum of corporate organizations across all industries, as well as government, union, education, and nonprofit organizations.

Let us help you reduce your pension risks globally with greater efficiency

Pension Modeling solution

Unlock the future impact of your decisions

Manage short- and long-term plan sponsorship risk, understand volatility in costs and financial measures, and project long-term contribution needs with Milliman FutureCost, a robust, web-based solution.

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GLOBAL BENEFITS MANAGEMENT

Global employee benefits management and consulting services

Our experts help clients gain greater visibility and control over their employee health and benefit plans around the world, aligning their financial decisions, operational objectives, and employee preferences to improve business performance.

Global employee benefits

Making multinational management seamless

Managing employee benefit plans across borders has never been more complex. As your global footprint expands, designing valuable employee programs and making informed financial and operational decisions becomes increasingly demanding.

Multinational organizations face a wide array of challenges: inconsistent practices, fragmented local plan structures, unreliable data, evolving regulations, economic uncertainty, and a tight talent market. Most struggle to have accurate information and reporting over their plans internationally, and waste significant time managing plans as a result. Successfully navigating these complexities is essential for mitigating risk, controlling costs, and enhancing your talent strategy.

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Services

How Milliman can help manage employee benefits across borders

With our global benefits expertise, we help you align your business goals with your employee expectations, providing greater clarity, efficiency, and confidence in managing benefits worldwide.

Our comprehensive global benefits services include:

  • Global benefits management, with local brokerage and worldwide coordination
  • Global strategy and governance based on robust data, analytics, and insights
  • Independent audits, benchmarking, and custom design of benefit plans
  • Global well-being strategies
  • Expert advice on pension and benefit plans for internationally mobile employees
  • Employee communication and engagement initiatives

3 in 5

Multinational companies cite employee engagement and competitive benchmarking as a top priority in their global benefits strategy.

Let us help you simplify and optimize your employee benefit plans worldwide

MERGERS AND ACQUISITIONS

Pension and employee benefit guidance on global M&A deals

Guidance on retirement and benefit issues related to international transactions—from due diligence and negotiations to day-one readiness and post-completion integration.

Global mergers and acquisitions

Navigating complexities in employee benefits

Whether you’re acquiring, divesting, or merging multinational businesses, global M&A transactions often uncover unexpected risks and challenges related to retirement plans and other employee benefits, which can jeopardize deal outcomes. Performing due diligence and understanding local laws along with individual contract specifications is paramount to a successful deal.

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Services

How Milliman can guide you through the benefit questions in an international M&A deal

With extensive M&A experience supporting organizations of all sizes around the world, from large corporations to small private equity firms, our team delivers tailored solutions to meet your unique needs. Our consultants work seamlessly alongside in-house M&A teams to provide expert guidance and support. Milliman’s global reach gives you immediate access to local expertise, backed by a single point of accountability and consistent, high-quality delivery—all dedicated to ensuring the success of your transaction.

Our global merger and acquisition services include:

  • Target evaluation based on benefit strategies and local labor laws
  • Due diligence to identify liabilities, cash, accounting impacts, and statutory requirements
  • Input on the sale and purchase agreement
  • Deal preparation to advise on integration strategy, challenges, risks, and mitigation plans
  • Structuring of interim arrangements and establishment of new benefit and retention programs
  • A strong project management office across multiple workstreams and countries
  • Implementation of new or combined plans
  • Transition management, including asset or liability transfers
  • Monitoring of interim arrangements

$4 trillion

Globally, M&A activity was projected to surpass $4 trillion in 2025, marking a strong recovery from previous years.

Milliman also supports retirement and benefit questions surrounding domestic M&A deals.

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Let our global reach and local expertise support your next international M&A deal

Case studies

Accelerating global pension and actuarial transformation

In today’s global business environment, large organizations face increasing challenges in managing complex pension structures, meeting multi-jurisdictional compliance requirements, and delivering consistent, high-quality services across regions.

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Global benefits consulting and management for a leading locomotive and rail technology organization

Managing employee benefits across multiple countries is a complex challenge, especially for organizations with diverse local practices and a history of acquisitions.

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Providing support and actuarial analysis during a multinational merger and acquisition

This case study illustrates how our team supported a multinational firm in navigating the intricacies of DB pension costs during a potential acquisition, enabling informed decision making under tight deadlines.

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Reviewing benefit obligations during the acquisition of a U.S. defense contractor

This case study explores how our team supported a private equity firm in evaluating and negotiating the benefit obligations associated with acquiring a division of a U.S. defense contractor.

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Ask the tough questions. We’re ready for them.