Professionals would invest for participants from Morningstar, Retirement Manager or a customised model portfolio
Milliman’s Employee Benefits Practice, a provider of total retirement outsourcing services, has launched a program to help plan sponsors and participants regarding their retirement plans and make measurable decisions. Milliman’s ‘Power to Know’ is a set of tools that applies to a plan sponsor’s entire retirement program.
According to Milliman, Power to Know allows plan sponsors to know, how their plan compares through an exhaustive plan benchmarking report, all costs via comprehensive fee transparency reports. It would also help to know how participants are succeeding through a visual graphic that displays each participant in relation to their retirement goal. In addition, defined benefit plan sponsors can know their plan’s funded status, through tools designed specifically to create and monitor a liability-driven investment strategy, said the company.
If desired, participants can know that professionals will invest for them from Morningstar, Retirement Manager or a customised model portfolio strategy offering advantages.
Janet McCune, Principal in Milliman’s Dallas office, said: “Few providers can deliver to plan sponsors the depth and breadth of information that Milliman provides. For example, our clients know exactly what they are paying for our services because 100% of our client invoices show a reconciliation of revenue from all sources.”