Case study: Implementing administration of a frozen multiemployer defined benefit plan: Achieving efficiency and compliance By David W. Benbow | 17 December 2012 The project Our client asked Milliman to administer its frozen multiple-employer defined benefit pension plan. Previously, the client was frustrated with errors by its previous service provider and the lack of timely service. Participants often would not receive their pension calculations for several weeks, creating a lot of anxiety and costing the client a lot of time fielding phone calls. Errors in calculations and communications also added cost and time spent correcting the errors. During the conversion from the previous service provider, we asked probing questions and looked at many sample calculations in order to adapt our on

Join for free to read