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News Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI).
Key Points:
- Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI).
- As the pension risk transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer.
- During March, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 102.1% of a plan’s accounting liabilities (accumulated benefit obligation, or ABO) to 100.3% of those liabilities.
- The competitive bidding process is estimated to save plan sponsors about 2.3% of PRT costs as of March 31.
Retrieved on:
Wednesday, April 24, 2024
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IBM Key findings for our 2024 annual study include:
Key Points:
- Key findings for our 2024 annual study include:
The PFS funded percentage decreased slightly from 99.4% to 98.5%, primarily due to a 17-basis point decline in discount rates during 2023.
- Nearly half (48) of the plans in our study are funded at 100% or greater; no plans in our study are funded below 75%.
- The average investment return on assets was 7.2%, higher than the average expected assumption of 6.4%.
- This is still well below the average expected rate of return assumption of 9.4% back in FY2000.
A second consecutive month of overall positive market performance in March increased the Milliman 100 PPFI funded ratio from 78.6% at the end of February to 79.7% as of March 31.
Key Points:
- A second consecutive month of overall positive market performance in March increased the Milliman 100 PPFI funded ratio from 78.6% at the end of February to 79.7% as of March 31.
- This marks the highest level since March 31, 2022, when the funded status stood at 82.7%.
- The deficit between estimated plan assets and liabilities decreased by $62 billion, reaching $1.271 trillion as of March 31.
- “At the other end of the spectrum, 15 plans remain below 60% funded, the same number as last month.”
For more information, and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .
Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.
Key Points:
- Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.
- During March, the Milliman 100 PFI funded ratio rose from 105.3% at the end of February to 105.6% as of March 31.
- “Pension funded status improved for all three months of the first quarter, and strong market returns helped to offset the effect of March’s discount rate declines,” said Zorast Wadia, author of the PFI.
- The 2024 Milliman Corporate Pension Funding Study will be released later this month.
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Financial adviser Milliman, Inc., one of the premier actuarial, consulting, and benefits administration firms, is pleased to announce that it has been recognized by PLANSPONSOR as a 2024 Best in Class defined contribution (DC) recordkeeper.
Key Points:
- Milliman, Inc., one of the premier actuarial, consulting, and benefits administration firms, is pleased to announce that it has been recognized by PLANSPONSOR as a 2024 Best in Class defined contribution (DC) recordkeeper.
- Milliman ranked first in the $200mm–$1B plan asset size and third in the $50mm–$200mm plan asset size categories.
- In the large market category, Milliman ranked first in sponsor services and support, plan administration, and investments and fees.
- That’s why it’s humbling when our clients ‒ the very people we serve ‒ recognize our excellent work in DC administration,” Kari Jakobe, a Milliman principal and DC administration leader, said.
Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which analyzes data from the nation’s 100 largest public defined benefit plans.
Key Points:
- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which analyzes data from the nation’s 100 largest public defined benefit plans.
- During this leap-year February, the Milliman 100 PPFI funded ratio improved from 77.7% at the end of January to 78.6% as of February 29, 2024.
- After static investment performance the previous month, the PPFI plans returned an estimated 1.7% in aggregate for February.
- Meanwhile, the gap between assets and liabilities shrank by $56 billion, to $1.333 trillion as of February 29.
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Economics Milliman, Inc., a premier global consulting and actuarial firm, is pleased to announce the 2023 recipients of its Opportunity Scholarship program.
Key Points:
- Milliman, Inc., a premier global consulting and actuarial firm, is pleased to announce the 2023 recipients of its Opportunity Scholarship program.
- Since 2017, its inaugural year, Milliman has awarded 126 scholarships.
- “Milliman is honored to help these exceptional students meet their educational goals,” said Milliman CEO Dermot Corry.
- “Our Opportunity Scholarship awards reduce the financial challenges students face and help them focus on building a foundation for a successful career.
Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI).
Key Points:
- Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI).
- As the pension risk transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer.
- During February, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process increased from 101.8% of a plan’s accounting liabilities (accumulated benefit obligation, or ABO) to 102.1% of those liabilities.
- The competitive bidding process is estimated to save plan sponsors about 1.5% of PRT costs as of February 29.
Retrieved on:
Wednesday, March 13, 2024
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MMDI While mortgage delinquency risk increased to 2.71% for loans acquired in Q4 2023, compared to 2.62% for loans acquired during Q23 2023, delinquency risk remains low despite pressure on housing affordability.
Key Points:
- While mortgage delinquency risk increased to 2.71% for loans acquired in Q4 2023, compared to 2.62% for loans acquired during Q23 2023, delinquency risk remains low despite pressure on housing affordability.
- Looking at the components of default risk between 2023 Q3 and Q4, borrower risk remained level at 1.48%, with purchase loans making up about 88% of total volume.
- Underwriting risk, which represents additional risk adjustments for property and loan characteristics, remains low and is negative for purchase mortgages.
- “Mortgage underwriting remains strong, despite the interest rate-environment and continued home price appreciation putting pressure on housing affordability,” said Jonathan Glowacki, a principal at Milliman and co-author of the MMDI.
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Life insurance Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its two 2023 Fixed Indexed Annuity Industry Experience Studies.
Key Points:
- Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its two 2023 Fixed Indexed Annuity Industry Experience Studies.
- The two studies cover surrender behavior and partial withdrawals, including income utilization for guaranteed lifetime withdrawal benefit (GLWB) riders.
- The research shows the highest ever exposure to rising interest rates, with a 36% increase in exposure for records positively affected by interest rate hikes since early 2022.
- The research findings validate previous observations of decreased surrender rates in fixed indexed annuity contracts when used for income generation.
