Case study: Modernizing pension and retirement benefits By Michael Mikhitarian | 31 January 2014 The challenge A small insurance client in New England has a well-funded defined benefit (DB) plan that is open to new entrants. They also sponsor a defined contribution (DC) plan that has a low employer contribution. They rely on their benefits to attract new employees. The client felt that the program was getting stale and was not “unique” enough to stand out to prospective hires among their competitors. The client requested that Milliman provide a report that offered alternatives to their current program that would be attractive to their current and prospective employees. The Milliman solution Milliman’s report presented a number of ideas and covered methods for more equitable sharing of risk

Join for free to read