PlanAhead for Retirement® allows plan participants to understand and act upon their retirement needs
SEATTLE, Dec. 12, 2012 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today announced the rollout of PlanAhead™, unique tools and targeted services to take employee retirement planning to the next level. Included in the suite of services is PlanAhead for Retirement®, a powerful participant web application that serves as a single destination for all of a participant's retirement planning and investing activities. This tool allows participants to understand their retirement preparedness at a glance, providing insight that is very individualized and specific.
"Tomorrow's retirement plan requires a more informed and involved plan participant, and PlanAhead for Retirement is the engine for this next generation participant experience," said Lance Burma, Employee Benefits Practice Director. "The tool is easy to use and will make retirement plans more transparent than ever before, allowing plan participants to understand where they are, where they are going, and what they need to do in order to achieve their retirement goals."
While the user experience is simple, the underlying technology is robust and sophisticated. Participants can supplement their defined contribution and defined benefit retirement plan information with other assets and investments, and will receive a snapshot of their progress toward retirement goals. Underlying this snapshot is a powerful Monte Carlo simulator that runs thousands of scenarios to project likely outcomes. Participants can then make adjustments and chart the long-term implications of different investment and saving strategies. These features are complemented by a robust library of retirement information and educational resources, making PlanAhead for Retirement a single retirement planning resource for any participant in an employer sponsored retirement plan administered by Milliman.
Thousands of participants in Milliman plans have already begun to benefit from the PlanAhead experience while others will continue to be phased in over time. For more on PlanAhead for Retirement, go to milliman.com or contact your Milliman consultant.
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting 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. It is a founding member of Abelica Global, an international organization of consulting firms serving employee benefits clients worldwide. For further information, visit milliman.com.
SOURCE Milliman, Inc.