SEATTLE, Jan. 20, 2020 /PRNewswire/ — Milliman, Inc., one of the premier global consulting, actuarial, and benefits administration firms, today announced it has added the Wisconsin Ironworkers Union Individual Account Retirement Fund as a defined contribution client. The plan includes over 3,300 participants and $215 million in assets.
“We had a retirement plan that was valued once a month and the Board of Trustees wanted to move it to daily valuation to allow the members of Local 8 to better plan for their retirement, ” says Tony Mayrhofer, Business Manager and Trustee. “We selected Milliman for their extensive experience converting plans like ours from balance-forward to daily valuation, with participant-direction, without having to change the unique investment structure that we had in place. Our members are very pleased with the change and can now view their accounts at any time. I couldn’t be happier with the program that we now have in place.”
Milliman will provide recordkeeping, communications and ERISA consulting services for the plan.
“We are grateful the Board of Trustees chose Milliman for their retirement needs,” says Gerald Erickson, principal and DC Taft-Hartley practice leader at Milliman. “The trustees and staff at Local 8 are great to work with and it really was a nice collaborative effort with the other fund professionals in making the transition successful.”
For information on Milliman’s employee benefit services, go to https://us.milliman.com/en/retirement-and-benefits.
Milliman is a leading provider of consulting services and benefit administration. The firm has practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit milliman.com.
SOURCE Milliman, Inc.