Milliman clients recognized by "Save 10" initiative for exemplary retirement plans
Eight clients honored for retirement plans that optimize employee saving opportunities
SEATTLE, Sept. 25, 2015 /PRNewswire/ -- Milliman, Inc., a premier global actuarial, consulting, and administrative firm, announced this week that a group of its clients are being recognized by the Financial Services Roundtable's "Save 10" initiative, which is a business-to-business, peer-to-peer effort encouraging responsible employers to help their employees better prepare for retirement by helping them to save 10 percent of their income.
"One of the best ways to help people save for their financial future is for companies to automatically enroll employees in workplace savings programs," said former Minnesota Governor Tim Pawlenty, CEO of the Financial Services Roundtable. "Save 10 recognizes such companies, and we hope that by highlighting their terrific efforts, more companies will become Save 10 employers."
The Milliman clients joining the Save 10 effort include Mankato Clinic, Francis Investment Counsel, Fish & Richardson, Tiller Corporation, Southern Minnesota Beet Sugar Cooperative, CliftonLarsonAllen, Felhaber Larson, and Communications Systems, Inc.
"We work with our clients to provide a meaningful retirement benefit," said Milliman principal Kevin Skow. "Features like auto-enrollment and auto-escalation allow employers to better help their employees save for retirement. Our plan participant tools help to educate employees on how much they need to save and how they can accomplish their retirement goals."
Nearly 82 percent of employees save for retirement when their employers offer an auto-save program compared with just 64 percent when employers do not. Save 10 aims to fundamentally change these facts.
To be considered for recognition as a Save 10 employer, companies must certify that they engage in certain activities that qualify them as Save 10 certified. This includes offering a retirement plan, providing employees opportunities to save 10 percent of their income, contributing to employee retirement accounts, ensuring employees can "keep 10" by providing access to disability and life insurance plans, and other criteria.
Other companies that have joined the Save 10 effort include Allstate, Assurant, AXA, EZE Castle Integration, First Horizon, Franklin Resources, IBM, LPL Financial, Mastercard, Nationwide, Northern Trust, Popular Community Bank, Principal, Prudential, Putnam Investments, Quicken Loans, State Farm, SunTrust, TransAmerica, Toyota Financial Services, United Technologies, and UNUM.
Read more about the Save 10 initiative and qualifying criteria at www.Save10.org. For more on Milliman's retirement planning tools, go to http://us.milliman.com/Solutions/Products/PlanAhead/.
About Milliman
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. For further information, visit milliman.com.
SOURCE Milliman, Inc.
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