Milliman 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. 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, click here.