Case study: Diagnosing effective deferred compensation programs for a governmental hospital’s executives By Dominick Pizzano | 01 July 2015 The challenge A large governmental hospital maintains qualified plans (defined benefit and defined contribution) for its employees and a 457(b) plan for its executives. The hospital asked Milliman to assist it in evaluating whether its overall executive compensation packages (i.e., salary and deferred compensation and retirement benefits) were (1) competitive with similar employers and (2) sufficient to provide such executives with a target income replacement ratio upon their retirement that would fall in line with industry standards and competitors’ levels for such positions. If additional deferred compensation would be needed to elevate executives to

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