Milliman joins Alliance for Lifetime Income as part of firm's larger vision to improve and protect Americans' retirement security

SEATTLE, July 10, 2018 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today announced that the company has joined the Alliance for Lifetime Income as a founding member. The Alliance, a newly launched nonprofit organization supported by 24 leading insurance and financial services organizations, is focused on educating Americans on the risk of outliving their savings and about the importance of protected retirement income.

"There are an estimated 10,000 Baby Boomers retiring each day in the U.S., and many lack adequate sources of protected retirement income," said Ken Mungan, Chairman of the Board, Milliman, Inc. "As people move from their working years to retirement, the retirement planning narrative has to shift. Milliman is privileged to play a role in this unprecedented industry collaboration."

Milliman clients include pension plan sponsors, defined contribution plan sponsors, and providers of guaranteed lifetime income solutions. The firm brings a broad perspective on retirement security to the Alliance, while also providing some of the sharpest minds on the retirement income challenge facing many Americans.

"The insurance industry is poised to play a major role in solving the retirement income crisis in America," Mungan added. "Through the pooling of risk, a cornerstone of insurers, retirees can help fill the income gap between their Social Security and employer-provided retirement, and their true lifetime income needs."

The Alliance will offer thought-leadership, research, third-party expert views, and tools on an ongoing basis. To learn more, go to http://www.RetireYourRisk.org. Follow the Alliance on Twitter @alincome.

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.

About the Alliance for Lifetime Income
The Alliance for Lifetime Income, based in Washington, D.C., is a nonprofit 501(c)(6) organization formed and supported by some of the nation's leading financial services organizations to create awareness and educate Americans about the importance of protected lifetime income. The Alliance is focused on helping to educate Americans on the risk of outliving their savings so they can enjoy their retirement lives. The Alliance provides consumers and financial advisors with the educational resources, tools and insights they can use to build plans for protected retirement income. For more information about the Alliance, visit www.AllianceForLifetimeIncome.org.

SOURCE Milliman, Inc.