Milliman's interactive models simulate the financial mechanics of benefit programs, providing plan sponsors with viable information to make informed decisions. This kind of modeling provides the long-term vision needed to ensure the safety and viability of the benefit programs.
Milliman models can also provide valuable insight by:
- Simulating the financial mechanics of benefit programs and expanding a client's ability to see the impact over time of new benefits or shifts in employee demographics. The feedback is immediate, with graphic presentations to help all parties quickly understand the effects of proposed changes.
- Answering the "what-if" types of questions about the important variables in planning benefit programs.
- Demonstrating the impact over time of new benefits or shifts in employee demographics.
- Educating plan sponsors about the inner workings of their benefit programs. The interactive plan design tutor explores the different types of retirement plans and evaluates the ones that might align best with overall corporate objectives.
- Assisting in labor contract negotiations by telescoping and accelerating the decision-making time frame, thus eliminating weeks of meetings devoted to the review of each new set of proposed benefits changes.