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Meet growing needs for innovative insurance solutions while increasing operational health and improving compliance.
Deliver on the promises of the past and create smart solutions for the future.
Manage complex risks using data-driven insights, advanced approaches, and deep industry experience.
This is a place where your ideas and insights make an impact. Where an independent, entrepreneurial spirit is an advantage. And where diversity of thought and experience makes us who we are.
Data-driven insight. Deep expertise. Transformative innovation. Since 1947, Milliman has delivered intelligent solutions to improve health and financial security.
Defined contribution plan consulting
In today’s ever-changing workplace, defined contribution (DC) plan design is no longer an issue that arises every five or 10 years. It needs constant attention and fine tuning. Changing corporate objectives, shifting workforce demographics, cost pressures, recruiting and retention needs, mergers and acquisitions, and unexpected events all must be considered to optimize plan outcomes.
Maximize the value of your retirement program with creative solutions that align to your corporate culture and long-term goals, backed by in-depth analysis and decades of Milliman expertise. Our expert consultants don’t put your business in a box. They tailor plan designs to ensure they are competitive and aligned with your goals. Then, they continuously monitor performance to ensure your unique goals are met.
Our client’s goal was to have an A+ plan with respect to participation and retirement readiness. Milliman’s relationship manager/consultant guided the plan committee through the steps to implement automatic enrollment, automatic increase, and a re-enrollment strategy. Consulting included plan design, industry practices, cost analysis, and operational considerations. The result? A 94% participation rate with an average deferral rate of 9.0%.
A restaurant-industry client was experiencing low participation and high plan costs. The company was incurring significant costs related to the 98.8% of eligible hourly eligible employees who were not in the plan. Milliman’s relationship manager/consultant helped redesign the plan by redefining eligible employees as salaried employees and corporate hourly employees, and adding a nonqualified plan for highly compensated employees. The redirected cost was used to fund the matching contribution in the nonqualified plan. The result? A $260,000 cost reduction.
Navigate the complicated maze of defined contribution administration to provide accurate recordkeeping, transparency, and compliance.
Empower your employees to achieve healthy financial outcomes through engaging content and interactive planning tools, while enabling you to manage your plan with a customized dashboard.
Ask the tough questions. We’re ready for them.