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Business Wire
a day ago
- Business
- Business Wire
Milliman analysis: Aggregate funding for multiemployer pensions reaches 100% at midyear 2025
SEATTLE--(BUSINESS WIRE)-- Milliman, Inc., a premier global consulting and actuarial firm, today announced that the aggregate funded percentage for U.S. multiemployer defined benefit pension plans has reached 100%, according to its midyear 2025 Multiemployer Pension Funding Study (MPFS). The MPFS estimate is based on assumptions and data in the latest Form 5500 filings for all U.S. multiemployer plans. 'This is a landmark moment for multiemployer pensions to reach full funding, in aggregate" Share Milliman estimates that plans' aggregate funding improved by $26 billion in the first half of 2025, moving from a $23 billion shortfall at year-end 2024 to a $3 billion surplus as of June 30, 2025. Robust investment returns, contributions, and continued payments under the federal Special Financial Assistance (SFA) program all contributed to the increase. Assets grew to $830 billion against $827 billion in liabilities, supported by an estimated 6.1% investment return for the period. 'This is a landmark moment for multiemployer pensions to reach full funding, in aggregate, for the first time in our study,' said Tim Connor, co-author of the MPFS. 'This improvement is especially noteworthy given the aggregate funded percentage following the 2008 global financial crisis was below 60%.' Much of the improvement is attributable to investment returns and contributions. In addition, 122 plans have received nearly $73 billion in SFA under the American Rescue Plan Act of 2021, contributing nine percentage points to aggregate funding levels since the program began. The midyear MPFS funded percentage would be 91% without any SFA funding. With most of the anticipated SFA funds distributed, investment performance will remain the key driver of funded status in the years ahead. Plans have until the end of 2025 to submit initial SFA applications, with payments expected into 2026 and possibly 2027. Recent legal developments could expand SFA eligibility to over 100 terminated plans, potentially increasing program outlays beyond the Pension Benefit Guaranty Corporation's original $80 billion estimate. View the midyear MPFS or read Milliman's full range of Pension Funding Studies. To receive regular updates of Milliman's pension funding analysis, contact us at pensionfunding@ About Milliman Milliman leverages deep expertise, actuarial rigor, and advanced technology to develop solutions for a world at risk. We help clients in the public and private sectors navigate urgent, complex challenges—from extreme weather and market volatility to financial insecurity and rising health costs—so they can meet their business, financial, and social objectives. Our solutions encompass insurance, financial services, healthcare, life sciences, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at
Yahoo
05-06-2025
- Business
- Yahoo
Transamerica, SWBC Launch Pooled Plan Exchange to Simplify Access for Growing Businesses Across the Country
BALTIMORE, June 5, 2025 /PRNewswire/ -- Transamerica today launched the SWBC Retirement Plan Exchange, which was established with SWBC to help grow and offer competitive retirement benefits with less cost and hassle. The solution features two options: Retirement Plan Exchange® Solution (Exchange) – employers choose from a cost-efficient menu of features, while TAG, a national third-party administrator and a wholly owned subsidiary of Transamerica, files Form 5500 and handles day-to-day administration. Choice Pooled Employer PlanSM (PEP) – employers may elect to join a single pooled plan maintained by Transamerica Fiduciary Services as the pooled plan provider, providing one combined 5500 and streamlined fiduciary oversight. SWBC Wealth Management will serve as financial advisors, while SWBC Retirement Plan Services will offer ERISA 3(38) investment fiduciary services. TAG will provide ERISA 3(16) administrative fiduciary services to plan sponsors and participating employers in the PEP. This collaboration takes advantage of the SECURE 2.0 Act, which makes it easier and more appealing for businesses to adopt pooled plans. "Collaborating with Transamerica lets us deliver measurable value to clients," said Kyle Hittle, MBA, Wealth Advisor, SWBC Wealth Management. "Together, we can simplify plan administration and enhance employees' financial well-being across the country." SWBC Wealth Management advisors support plan sponsors by simplifying the management of retirement plans, reducing administrative burdens, and ensuring a smooth experience at a competitive price. They focus on increasing participation through coordinated enrollment meetings, providing investment education and guidance, conducting regular plan reviews, and suggesting enhancements to meet the needs of all participants. "Transamerica is proud to be an industry leader in retirement solutions and support hundreds of thousands of small business employees in achieving financial freedom. With our collaboration with SWBC, we are removing barriers that have kept smaller companies from offering robust retirement benefits," said Darren Zino, head of retirement distribution at Transamerica. "We want everyone to live their best life, and by giving employers a clear choice between a customizable Exchange solution and an all-in-one PEP solution, we are helping them focus more on their people—and less on paperwork." Transamerica is a leading provider of pooled retirement plan solutions, focusing on building America's leading middle market retirement and insurance company. Why it matters to small companies Stronger talent attraction: In a 2024 Transamerica survey of 412 employers (fielded Nov–Dec 2024), 44% cited recruiting or retaining staff as their top reason for choosing a pooled plan. First-time plan adoption: Nearly 47% of respondents started offering a retirement benefit only after pooled options became available. Next steps for employers Employers can learn more about the SWBC Retirement Plan Exchange by contacting SWBC's Wealth Advisor, Kyle Hittle, directly at or (210) 667-2314. About TransamericaTransamerica believes everyone deserves the opportunity to live their best life. It's what inspires us to be a champion for helping everyday Americans thrive. As a leading provider of life insurance, retirement, and investment solutions for more than 10 million Americans, we help people make the most of what's important to them. Supporting our customers' financial futures with innovative products and services has been our mission for more than 120 years. In 2024, Transamerica fulfilled its promises to customers, paying more than $62 billion in insurance, retirement, and annuity claims and benefits, including return of customer-paid annuity premiums. Transamerica is part of the Aegon group of companies. Aegon is an international financial services holding company. For more information, visit Administrative Group, LLC dba Transamerica Fiduciary Services is the Pooled Plan Provider ("PPP"), a named plan fiduciary and is a wholly owned subsidiary of Transamerica. Transamerica Retirement Solutions, LLC is the recordkeeper and may act as a plan fiduciary with respect to certain administrative services, to the extent it exercises independent discretion, and only for the proper execution of the specific and agreed-upon administrative procedures for the services. Retirement Plan Exchange® and Choice Pooled Plan Solution™ are Transamerica service marks. Retirement Plan Exchange® is a registered service mark of Transamerica. The Exchange solution is a collection of single employer-sponsored plans that may share a common plan administrator, named fiduciary, investment menu, and plan year. Unlike a multiple employer plan (MEP), certain plan qualification and ERISA requirements are applied at the individual plan level. Pooled employer plans (PEPs) are a newer type of multiple employer plan for which the Department of Labor (DOL) and IRS guidance is still pending in a number of areas. An employer participating in a PEP retains certain fiduciary responsibilities, including responsibility for retaining and monitoring the Pooled Plan Provider (PPP) and any named fiduciary, for determining the reasonableness of its plan fees, and for periodically reviewing the plan as a whole. Among other responsibilities, the PPP acts as the ERISA 3(16) Plan Administrator. About SWBC As a diversified financial services company, SWBC provides financial institutions, businesses, and individuals with a wide range of insurance, mortgages, wealth management, employee benefits, and more. Headquartered in San Antonio, Texas, SWBC has partners and divisions across all 50 states and manages businesses around the world. No matter how wide its reach, SWBC always listens to our customers' needs, analyzes their current situations, and recommends customized solutions. For more information about our innovative approach to personalized service, visit SWBC's website at Securities offered by SWBC Investment Services, LLC, member SIPC & FINRA. Advisory services offered by SWBC Investment Company, a Registered Investment Advisor, and SWBC Investment Advisory Services, LLC, d/b/a SWBC Retirement Plan Services, a registered investment adviser with the Securities and Exchange Commission. Media inquiries:Email: Hank Williams(319) 355-7789 Erin Yang(303) 383-5295 View original content to download multimedia: SOURCE Transamerica Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-02-2025
- Business
- Yahoo
Private-Sector Health Insurance Benefits Data Presented by Mark Farrah Associates
MCMURRAY, Penn., February 11, 2025--(BUSINESS WIRE)--Mark Farrah Associates (MFA), presents 5500 Employer Health Plus. This tool has been designed to simplify the analysis of employer health & welfare benefits including health, drug, dental, vision, disability and other benefits. MFA's 5500 Employer Health Plus uniquely focuses on health & ancillary benefits purchased by private sector employers and the relationships employers have with contracted insurers, administrators and brokers. Data sources include Form 5500 filings and related schedules for plans that have the indication of providing health & welfare benefits. Large private-sector employers providing health and welfare benefit plans subject to ERISA are required to file the annual Form 5500 with the Internal Revenue Service. Form 5500 is a primary source of employer information about health and welfare benefits as well as pension plans. The intuitive user interface allows for both detailed and summary level data retrieval. Key Product Features include: Plan employer/sponsor key information and industry classification Retired & Separated Participants Most recent filing indicator Insurance carrier standardization with parent company groupings and NAIC plan ID Filings category by industry sector Ability to analyze data at a detailed and summarized level Benefit details for health, drug, dental, stop loss, vision, life, and many more Includes key data from: Form 5500, Form 5500 SF, Schedules A and A-1, Schedule C, Schedule H Premiums, claims, benefit plan participation and number insured Brokers, fees and commissions Self-insured & fully insured health plans identified by employer User-friendly web interface with easy-to-navigate tables and download to Excel For more information, please call 724-338-4100 or email prodmgr@ About Mark Farrah Associates (MFA) MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include: Health Coverage Portal™, Medicare Business Online™, Medicare Benefits Analyzer™, County Health Coverage™, Health Plans USA™ and 5500 Employer Health Plus. View source version on Contacts Mark Farrah AssociatesAnn Marie Wolfe, amwolfe@
