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12 December 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today announced the rollout of PlanAhead™, unique tools and targeted services to take employee retirement planning to the next level. Included in the suite of services is PlanAhead for Retirement®, a powerful participant web application that serves as a single destination for all of a participant’s retirement planning and investing activities. This tool allows participants to understand their retirement preparedness at a glance, providing insight that is very individualized and specific.
10 December 2012
London—Milliman Inc., one of the premier global consulting and actuarial firms, and the ILC-UK (International Longevity Centre-UK) recently organized a debate in conjunction with the Actuarial Profession on the cost of ageing and its impact on society.
06 December 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest corporate defined benefit pension plans. In November, these pensions experienced a $33 billion increase in funded status based on a $28 billion decrease in the pension benefit obligation (PBO) and a $5 billion increase in assets. The $33 billion increase begins to chip away at near-record funded status deficits that have persisted throughout the last two quarters. The deficit at the end of November sat at $466 billion.
15 November 2012
Seattle—Milliman, a premier global consulting and actuarial firm, announced today that it has developed a marketing alliance with We Predict to bring advanced analytics capabilities to clients of both firms.
07 November 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm,today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In October, these pensions experienced a $45 billion decrease in funded status based on a $43 billion increase in the pension benefit obligation (PBO) and a $2 billion decrease in assets. The $45 billion decrease wipes out September’s improvement in funded status and contributes to a larger trend: During five of the last seven months, these 100 pensions have seen an interest-rate-driven increase in the funded status deficit, increasing the funded status gap by a cumulative $270 billion.
15 October 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released its first Public Pension Funding Study, which consists of 100 of the nation’s largest public defined benefit pension plans. The study offers an aggregate analysis of these 100 public pensions and their funded status. The study complements Milliman’s corporate Pension Funding Study, which is now in its 12th year.
20 September 2012
Seattle, Wash. and Columbia, S.C.—Driven by the momentum of their joint work for large global insurers, including Aviva plc, Milliman, Inc., one of the premier global consulting and actuarial firms, and EagleEye Analytics, Inc., the leading provider of predictive analytics solutions for the property and casualty industry, have announced the expansion of their alliance to include all markets throughout Europe.
10 September 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In August, these pensions experienced a $34 billion increase in funded status based on a $23 billion reduction in the pension benefit obligation (PBO) and an $11 billion asset improvement. The $34 billion increase in funded status follows four straight months of interest-rate driven deficit increases and leaves the pension funding deficit at $498 billion.
07 September 2012
Seattle—Milliman, one of the premier global consulting and actuarial firms, today announced the election of Stephen A. White as president and chief executive officer. The appointment is effective immediately. Milliman’s board of directors made the announcement, acting to confirm the results of a vote by the privately held firm’s principals.
21 August 2012
Seattle—Fourteen of 31 respondents to Milliman’s fifth annual comprehensive study of Universal Life (UL) and Indexed Universal Life (IUL) issues reported they re-priced their UL with Secondary Guarantee design in the last 12 months.
14 August 2012
Seattle—Enclarity, Inc., a leading healthcare information solutions company, and Milliman, Inc., one of the premier global consulting and actuarial firms, today announced a formal business alliance between the two companies to jointly offer an integrated solution of Milliman’s MedInsight® software and services with Enclarity’s ProviderPoint® hosted provider data management solution to health plans, employers, and government entities throughout the U.S.
06 August 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In July, these pensions experienced a $120 billion decrease in funded status based on a $133 billion increase in the pension benefit obligation (PBO) and a $13 billion increase in asset value. The $120 billion decrease in funded status is the worst in the 12-year history of this study, and it pushes the pension deficit to a record $533 billion, surpassing the previous record set on August 31, 2010, The funded ratio of 70.9% is the second lowest in the history of this study; on May 31, 2003, the funded ratio bottomed out at 70.5%.
31 July 2012
Paris—Milliman, one of the premier global consulting and actuarial firms, today announced the impending launch of Vega™, a comprehensive software solution to perform Standard Formula calculations and fulfil Solvency II reporting requirements.
09 July 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In June, these pensions experienced a $57 billion decrease in funded status based on a $77 billion increase in the pension benefit obligation (PBO) and a $20 billion increase in asset value. The $57 billion decrease in funded status pairs with the combined April and May decreases of $129 billion, increasing the funding deficit by $186 billion during the second quarter.
29 June 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released analysis of the Supreme Court’s 5-4 decision upholding the Patient Protection and Affordable Care Act (PPACA). With the court effectively ruling the individual mandate and other elements of the law constitutional—with the notable and complex exception of certain aspects of Medicaid expansion—healthcare stakeholders can turn their attention to implementing healthcare reform.
13 June 2012
Zurich—Milliman Inc., one of the premier global consulting and actuarial firms, continues the expansion of its continental European operations with the announcement that Tigran Kalberer will become regional head of the firm’s Life and Non-Life insurance consulting practices in Switzerland and Germany, effective September 1, 2012.
12 June 2012
Seattle—Milliman, Inc., the international firm of consultants and actuaries, today announced that MG-ALFA is capable of utilizing Windows Azure for on-demand processing. This represents a major step forward and a valuable feature as insurers look to expand computing capacity while controlling costs.
06 June 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In May, these pensions experienced a $90 billion decrease in pension funded status based on a $60 billion increase in the pension benefit obligation (PBO) and a $30 billion decline in asset value. The $90 billion decrease in funded status pairs with last month’s $39 billion decrease, depriving these pensions of all year-to-date gains.
22 May 2012
Seattle—Milliman, Inc., one of the premier global consulting and actuarial firms, today announced the availability of its MedInsight technology and services solutions tailored for State All Payer Claims Database Programs. As states continue to implement these important healthcare initiatives, MedInsight solutions can be leveraged for successful roll-out and ongoing operations.
15 May 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its 2012 Milliman Medical Index (MMI), which measures the average healthcare costs for a typical American family of four receiving healthcare through an employer-sponsored preferred provider organization (PPO) plan. The average cost of care for this typical family in 2012 is $20,728. While the 6.9% increase over 2011 is the lowest rate of increase in the 12 years tracked by the MMI, the $1,335 increase surpasses last year’s record of $1,319.
09 May 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In April, these pensions experienced a $39 billion decrease in pension funded status based on a $35 billion increase in the pension benefit obligation (PBO) and a $4 billion decline in the asset value. April’s drop in funded status is the first of 2012 and comes following a strong improvement in March.
05 April 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In March, these pensions experienced a $58 billion improvement in pension funding thanks to a $4 billion improvement in asset value and a $54 billion reduction in the pension benefit obligation (PBO). These results reflect the annual update of the Milliman 100 companies and their actual 2011 financial disclosures included in the Milliman 2012 Pension Funding Study.
03 April 2012
New Delhi–Milliman, Inc., a premier global consulting and actuarial firm, today released a new annual study examining the pension and gratuity market in India. The India Defined Benefit Funding Study examines the pension and gratuity obligations of the 26 public sector banks in India and reports on trends related to these obligations.
29 March 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its 2012 Pension Funding Study, which analyzes the 100 largest US corporate pensions. In 2011, these pensions were defined by record-low discount rates, which led to record-high pension liabilities and a $326.8 billion pension funding deficit—a $94.7 billion increase over year-end 2010 and a new record for the 12-year history of this study. The pension funding ratio stood at 79.2% at year’s end.
06 March 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In February, these pensions experienced a $20 billion improvement in pension funding thanks to a $24 billion improvement in asset value that offset a $4 billion increase in the pension benefit obligation (PBO). The asset-driven improvement continues the modest rally that has so far characterized 2012.
06 February 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In January, these pensions experienced a $30 billion improvement in pension funding based entirely on asset performance, leaving the pension funding deficit at $434 billion. The strong month follows a lost year in which interest rates drove the pension funding deficit to historic levels.
02 February 2012
Seattle—Milliman Inc., a leading global consulting and actuarial firm, today announced the opening of a new office in Brussels, Belgium.
25 January 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today announced the formation of the Milliman Risk Institute, which will provide scientific-based thought leadership to executive management on all facets of enterprise risk. The Milliman Risk Institute has an advisory board of eight senior risk managers and convened its first meeting on November 3, 2011; the Institute expects to publish its initial research in advance of the April 18-20, 2012 ERM Symposium in Washington DC.
06 January 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today announced the availability of its Interstate Compact Survey, which examines insurance industry use of the Interstate Compact. The Interstate Compact allows companies to submit a single product for approval in up to 40 states (and Puerto Rico) and to expect approval in 60 days or less, thereby improving speed-to-market for new insurance products.
06 January 2012
Seattle—Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In December, these pensions epitomized the poor performance of 2011, experiencing a $59.7 billion decrease in pension funded status. The bad month cemented a bad year, leaving these 100 pensions with a $236.4 billion increased deficit as corporate pensions faced record underfunding.