Case study: Partnering annuity placement services with co-fiduciary services By Mary Leong, Katherine A. Warren | 05 October 2018 Background Milliman recently expanded its plan termination and de-risking services to include pension risk transfer services (i.e., group annuity placements). We found our clients were looking for a trusted partner to assist them with the request for proposal (RFP) process, act on their behalf to obtain bids from insurers in the market, and understand the Department of Labor’s (DOL) 95-1 requirements for fiduciaries in selecting the “safest” annuity provider. In addition, some Milliman clients were looking for a partner to act as a co-fiduciary (or even independent fiduciary) in the selection process to ensure their due diligence in the process. The challenge A

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