Providing adequate retirement income for employees through cash balance plans By John B. Wukitsch, Neil Hagin | 17 April 2018 Challenge A regional financial services employer recently approached Milliman to help redesign their retirement program. They felt that their current retirement program did not provide adequate retirement income for the majority of their employees, and they wanted to design a retirement program that would better meet their future needs. Working with Milliman, five specific participant-centric goals were developed: Provide broad coverage Offer meaningful benefits Attract and retain talented employees Be innovative Differentiate the employer from their peers There were also several business considerations. To the extent possible, the new retirement program should: Be

Join for free to read