Pensions
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Defined benefit consulting
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Milliman Benefits account loginReview the latest study on the funding levels of corporate pension plans.
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Reopening a frozen defined benefit plan: A strategic use of surplus and prefunding balance
Plan sponsors with a surplus and credit balance in a frozen defined benefit plan may have an opportunity to reduce ongoing defined contribution plan costs.

Year-end compliance review for single-employer defined benefit and defined contribution retirement plans
We highlight key amendments and administrative items that single employers with DB and DC plans should address before the end of 2026.
What professional service firms should know about PBGC’s new Coverage Assessment Program for defined benefit plans
We discuss why the PBGC’s new Coverage Assessment Program is especially important for professional service firms, which often operate under unique rules.

What should an overfunded corporate pension plan do with its surplus assets?
With the majority of large corporate DB plans in surplus territory, we discuss strategies for preserving that surplus and deploying excess funds.

Understanding pension gain/loss: Questions trustees and plan sponsors should be asking
This primer on pension gains and losses helps plan trustees and sponsors know what questions to ask their actuaries.
2026 Corporate Pension Funding Study
Strong investment gains fueled a second consecutive year of surplus funding for the 100 largest U.S. corporate pension plans.
Aligning asset allocation to pension plan goals: 4 considerations for defined benefit plan sponsors
A defined benefit pension plan is an employer-sponsored benefit that provides lifetime income for plan participants in retirement.
How the U.S. Postal Service postmark rule impacts retirement plan compliance
We detail how new USPS postmark rules affect compliance for defined benefit and defined contribution retirement plans.
Is it time to terminate your corporate pension plan?
Considerations and next steps for plan sponsors thinking of de-risking a defined benefit plan
Dear Actuary: How will interest rate volatility affect my company’s pension plan?
We discuss five proactive strategies defined benefit plans can use to help protect themselves from interest rate volatility.


