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Milliman analysis: Public pension funded ratio keeps climbing, reaches 76.8% at end of July

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Donnerstag, August 17, 2023

Kentucky Public Pensions Authority, Cryptocurrency, Pension fund, Milliman

SEATTLE, Aug. 17, 2023 /PRNewswire/ -- 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:

The July 31 funded status is now the highest ratio we've seen since May 31, 2022
During July, the Milliman 100 PPFI funded ratio rose from 75.8% as of June 30 to 76.8% as of July 31, the result of a $57 billion funded status improvement.
"The July 31 funded status is now the highest ratio we've seen since May 31, 2022, when it reached 78.4%," said Becky Sielman, co-author of Milliman's PPFI.
"This improvement pushed two more plans over the 90% funded mark, for a total of 19, while the number of plans less than 60% funded remains stable at 23."
For more information and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .

Milliman analysis: Multiemployer pension plans' overall funding jumps to 87% at mid-year 2023, up from 79% at the end of 2022

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Dienstag, August 15, 2023

MPFS, Milliman, SFA, Pension fund, Renewable energy

As of June 30, 2023, the funding shortfall for all multiemployer plans fell by about $65 billion, resulting in an aggregate funded percentage of 87%, up from 79% on December 31, 2022.

Key Points:

As of June 30, 2023, the funding shortfall for all multiemployer plans fell by about $65 billion, resulting in an aggregate funded percentage of 87%, up from 79% on December 31, 2022.
By mid-year, about 45 plans received nearly $50 billion in special financial assistance (SFA), which increased the aggregate funded percentage by about 6%.
Most of the plans that have received SFA up to this point were insolvent or going insolvent in the near future.
To receive regular updates of Milliman's pension funding analysis, contact us at [email protected] .

Milliman analysis: Corporate pension funding status improves for third straight month in July

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Montag, August 7, 2023

Milliman, PFI, Pension fund

SEATTLE, Aug. 7, 2023 /PRNewswire/ -- 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:

SEATTLE, Aug. 7, 2023 /PRNewswire/ -- 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 July, the Milliman 100 PFI funding ratio rose from 102.5% at the end of June to 103.6% as of July 31.
"July was a win-win for pension funding," said Zorast Wadia, author of the PFI.
To receive regular updates of Milliman's pension funding analysis, contact us at [email protected] .

Inflation, High CAT Losses to Lead to 2023 Underwriting Loss for P&C Industry, But Recession Likely Avoided This Year, New Triple-I/Milliman Report Shows

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Donnerstag, August 3, 2023

The quarterly report, Insurance Economics and Underwriting Projections: A Forward View, was presented on August 3 at an exclusive members only virtual webinar.

Key Points:

The quarterly report, Insurance Economics and Underwriting Projections: A Forward View, was presented on August 3 at an exclusive members only virtual webinar.
CPI will likely stay in the mid-to-upper 3% range through the end of the year,” Léonard said.
“For commercial auto, 2022 saw a return to underwriting losses, as the industry logged a 105.4 net combined ratio, the highest since 2019.
She also revealed that the “long tail” line for workers compensation claims has gotten progressively shorter over recent years.

Healthcare expenses are 47% higher for women experiencing menopause

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Donnerstag, Juli 20, 2023

Anxiety, Milliman, Sleep, Quality of life, Menopause, Woman, Tic disorder, Pharmacy, Mindfulness, HRT, Nutritionist, Patient, Dietitian, Diagnosis, Ageing, Health, Hormone replacement therapy, Health insurance

SEATTLE, July 20, 2023 /PRNewswire/ -- Lack of access to quality, specialized medical care for menopause is causing women to suffer needlessly and the U.S. healthcare system to bear the brunt of unnecessary costs. A new study commissioned by Gennev, the nation's leading virtual menopause clinic provider, shows that medical and prescription costs for women ages 45-54 experiencing menopause are 47 percent higher on average than the general population of women in the same age band. The per member per month expense for these women experiencing menopause averaged $1,243, compared to $848 for the total population.

Key Points:

A new study commissioned by Gennev , the nation's leading virtual menopause clinic provider, shows that medical and prescription costs for women ages 45-54 experiencing menopause are 47 percent higher on average than the general population of women in the same age band.
The per member per month expense for these women experiencing menopause averaged $1,243, compared to $848 for the total population.
Gennev's new study shows untreated menopause takes a heavy toll on women's expenses and the U.S. healthcare system.
The report identifies the healthcare economic profiles of women in menopause who have used specific types of therapy, including HRT, non-hormonal therapy, or no therapy at all for menopause diagnosis.

Milliman analysis: Public pension funded ratio climbs to 75.8% at end of June

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Mittwoch, Juli 19, 2023

Milliman, News, Kentucky Public Pensions Authority, Pension fund, Cryptocurrency

SEATTLE, July 19, 2023 /PRNewswire/ -- 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 pension plans.

Key Points:

SEATTLE, July 19, 2023 /PRNewswire/ -- 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 pension plans.
During June, the Milliman 100 PPFI funded ratio rose from 73.7% as of May 31 to 75.8% as of June 30, the result of a $123 billion improvement in funded status.
For more information and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .
To receive regular updates of Milliman's pension funding analysis, contact us at [email protected] .

Milliman analysis: Competitive pension risk transfer costs decrease from 100.5% to 100.1% in June

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Montag, Juli 17, 2023

Index, Milliman, PRT, ABO, News, Insurance

SEATTLE, July 17, 2023 /PRNewswire/ -- 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.

Key Points:

SEATTLE, July 17, 2023 /PRNewswire/ -- 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 June, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 100.5% of a plan's accounting liabilities (accumulated benefit obligation, or ABO) to 100.1% of those liabilities.
The competitive bidding process is estimated to save plan sponsors about 2.6% of PRT costs as of June 30.

Milliman analysis: Corporate pension funding status improves in June for second straight month

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Montag, Juli 10, 2023

Milliman, PFI, Pension fund

SEATTLE , July 10, 2023 /PRNewswire/ -- 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:

SEATTLE , July 10, 2023 /PRNewswire/ -- 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 June, the Milliman 100 PFI funding ratio rose from 100.7% at the end of May to 102.2% as of June 30.
To see Milliman's full range of annual Pension Funding Studies, go to https://www.milliman.com/en/retirement-and-benefits/pension-funding-studies .
To receive regular updates of Milliman's pension funding analysis, contact us at [email protected] .

Milliman analysis: Competitive pension risk transfer costs increase from 98.3% to 100.5% in May

Retrieved on:

Donnerstag, Juni 22, 2023

Milliman, Federal Reserve responses to the subprime crisis, PRT, Q3, Federal Reserve, ABO, Risk, Insurance

SEATTLE, June 22, 2023 /PRNewswire/ -- 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.

Key Points:

SEATTLE, June 22, 2023 /PRNewswire/ -- 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 May, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process increased from 98.3% of a plan's accounting liabilities (accumulated benefit obligation, or ABO) to 100.5% of those liabilities.
The competitive bidding process is estimated to save plan sponsors about 2.7% of PRT costs as of May 31.

Milliman analysis: Public pension funded ratio declines slightly to 73.7% at end of May

Retrieved on:

Dienstag, Juni 20, 2023

Kentucky Public Pensions Authority, Pension fund, Milliman

SEATTLE, June 20, 2023 /PRNewswire/ -- 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 pension plans.  

Key Points:

SEATTLE, June 20, 2023 /PRNewswire/ -- 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 pension plans.
During May, the Milliman 100 PPFI funded ratio declined slightly from 74.8% at the start of the month to 73.7% as of May 31, the result of a $16 billion drop in the plans' funded status.
"Despite the slight drop in funded status, May marks the eighth month in a row where the funded ratio has stayed between 70-75% funded," Becky Sielman, co-author of Milliman's PPFI.
For more information and to view the full Milliman 100 Public Pension Funding Index, go to http://www.milliman.com/ppfi/ .