By year-end 2017, sponsors of calendar-year single-employer retirement plans must adopt necessary and discretionary plan amendments to ensure compliance with the statutory and regulatory requirements of ERISA and the tax code. This Client Action Bulletin (CAB) looks at key areas—including administrative compliance issues—that sponsors of such defined benefit (DB) or defined contribution (DC) plans should address by December 31, 2017.
There are several valuable reasons why companies include employer stock in 401(k) plans. However, increased risk of litigation has caused many employers to reconsider the decision to offer employer stock as an investment option. In her article “Employer stock in a 401(k) plan,” Milliman’s Kara Tedesco outlines initiatives for plan sponsors to consider when deciding to maintain or discontinue their employer stock offering.
Milliman has added Holzer Health System as a defined contribution client. Holzer Health System is a multi-discipline healthcare system with more than 160 providers and 2,400 employees providing services in over 30 areas of expertise from 15 locations throughout Ohio and western West Virginia.
“We chose Milliman for their reputation of being a trusted service provider who values commitment to client service. In addition to service, the website is user friendly and includes robust tools to assist participants in planning for retirement. Partnership with providers is a critical decision, and Milliman’s unique ability to design services and systems to meet the needs of all our retirement plan participants was a strong factor in our decision making,” says Lisa Halley, vice president of human resources.
Milliman will provide recordkeeping, administration, communications, and compliance services for the Holzer Health System 401(a), 403(b), and 457(b) plans. The Robertson Group at Morgan Stanley headquartered in Columbus, Ohio, is the independent co-fiduciary investment adviser providing consulting services and participant education for the plans.
We look forward to an enduring relationship with Holzer Health System, and we are honored they selected us. At Milliman, our focus is to provide superior service and value that exceeds our client’s expectations. We believe that strong service and a commitment to the industry is what most plan sponsors want and need.
For more information about Milliman’s employee benefit services, click here.
Milliman announced today that we have added the Painters and Allied Trades District Council 82 DC Plan as a defined contribution client. The plan covers collectively bargained members in the states of Minnesota, Wisconsin, and North Dakota with approximately 2,300 participants and $155 million in plan assets.
Milliman is providing recordkeeping, consulting, and communication services for the District Council 82 defined contribution plan.
We are thrilled that the Trustees of the Painters and Allied Trades District Council 82 DC Plan chose to hire Milliman. The Trustees decided to merge two different plans together and it was necessary they had a solid solution in place for their members. The Trustees were confident in our reputation for client service and the solution and approach we discussed resonated with them.
Milliman was recently retained by a multinational company to provide actuarial services for its retirement programs in six countries. This article by Danny Quant highlights how Milliman’s solution turned the initial valuation contract into broader consulting opportunities.
Milliman has published 2017 retirement plan calendars for single-employer defined benefit (DB) plans, multiemployer DB plans, and defined contribution (DC) plans. Each calendar provides key administrative dates and deadlines.
• 2017 single-employer DB calendar
• 2017 multiemployer DB calendar
• 2017 DC plans calendar
Along with downloading each calendar, be sure to follow us at Twitter.com/millimaneb where we tweet upcoming dates and deadlines for plan sponsors.