Milliman
advisor34 known aliases resolved via the canonical alias map
Market position · 2024
Plans served654-2 YoYRank #40 of mapped providers
Assets under administration$204.8B0.2%Market share · rank #69
Fees received$93MMedian $65,611/planSum across Schedule C direct + indirect
Net wins YoY+361 won · 58 lostPlan-level switch detection
Plans served · 5-year trajectory
Market-share plans percent annotated. Bar height is raw plan count.
Customer-base shape
What does a typical Milliman plan look like?
Service mix · median fees per plan
Count of plans where Milliman ships each service code, and the median compensation they report under it.
| Service | Plans | Median fees | Distribution |
|---|---|---|---|
Sub-transfer agency fees; Recordkeeping fees; Direct payment from the plan; Recordkeeping and information management (computing, tabulating, data processing, etc.); Account maintenance fees; Participant communicationCode 15 | 297 | $48,494 | |
Recordkeeping fees; Participant communication; Recordkeeping and information management (computing, tabulating, data processing, etc.); Contract Administrator; Actuarial; Direct payment from the planCode 11 | 290 | $83,536 | |
Direct payment from the plan; Consulting (general); Consulting (pension)Code 16 | 18 | $33,863 | |
Recordkeeping and information management (computing, tabulating, data processing, etc.); Direct payment from the plan; Recordkeeping fees; Contract Administrator; Participant loan processingCode 13 | 15 | $113,776 | |
Recordkeeping and information management (computing, tabulating, data processing, etc.); Accounting (including auditing)Code 10 | 7 | $32,100 | |
Recordkeeping fees; Account maintenance feesCode 64 | 6 | $67,232 | |
Investment advisory (plan); Other feesCode 27 | 5 | $10,250 | |
Consulting (pension); Direct payment from the planCode 17 | 3 | $134,334 |
Competitor overlap
Percent of Milliman's plans that also list each competitor on Schedule C. High numbers = co-living partners; low numbers = direct displacement targets.
Plans won in 2024
Appeared this year; did not appear last year under Milliman.
| Sponsor | From | Assets |
|---|---|---|
BOARD OF TRUSTEES, DIRECTORS GUILD OF AMERICA-CA · 952892780-001 | EMPLOYEE ID 639 | $2.5B |
BOARD OF TRUSTEES OF THE PIPE TRADES SERVICES MN PENSION SUPPLEMENT TRMN · 411539354-002 | Matrix Trust | $1.8B |
HEARTLAND DENTAL, LLCIL · 010854205-001 | Martin Hood LLC | $1.1B |
KEYCORPOH · 346542451-007 | Meyer Unkovic & Scott LLP | $836M |
ALPHA NATURAL RESOURCES, LLCTN · 562298262-005 | (new plan) | $369M |
SWEDISH HEALTH SERVICESWA · 910433740-016 | Fidelity Investments | $293M |
COX, CASTLE & NICHOLSON LLPCA · 952547124-003 | PDV Financial Management | $270M |
SCHOTT CORPORATIONNY · 133342824-002 | Empower | $173M |
BOARD OF TRUSTEES OF HAWAII IRON WORKERS PENSION TRUST FUNDHI · 996025105-001 | Lemke, Chinen & Tanaka, CPA, Inc. | $171M |
CRAVATH, SWAINE & MOORE LLPNY · 135015405-002 | First Manhattan Co. | $154M |
Plans lost in 2024
Appeared last year under Milliman; not this year.
| Sponsor | To | Assets |
|---|---|---|
LSC COMMUNICATIONS LLCIL · 853418344-004 | (new plan) | $1.5B |
NORTHWEST IRONWORKERS RETIREMENT PLAN BOARD OF TRUSTEESWA · 916123688-001 | Welfare & Pension Admin Service Inc. | $708M |
BOARD OF DIRECTORS OF THE IBEW LOCALS' SAVING & RETIREMENT GROUP TRUSTNY · 271722149-023 | Plan Member Securities Corporation | $698M |
H. LEE MOFFITT CANCER CENTER AND RESEARCH INSTITUTEFL · 592451713-001 | Empower | $688M |
RUSSELL INVESTMENTS GROUP, LLCWA · 473735863-002 | Empower | $584M |
PARAMOUNT GLOBALNY · 042949533-205 | TELUS HEALTH | $530M |
H. LEE MOFFITT CANCER CENTER AND RESEARCH INSTITUTE, INC.FL · 592451713-002 | Empower | $430M |
ABX AIR, INC.OH · 911091619-003 | Prudential | $424M |
BOARD OF TRUSTEES, SAN DIEGO COUNTY CONSTRUCTIONCA · 956090541-001 | Mesirow Financial | $397M |
NATIONAL RAILROAD PASSENGER CORPORATIONDC · 520910053-001 | Goldman Sachs Asset Management | $365M |
Top plans by assets
Searchable full list lands with the commercial layer.
| Plan | Assets | Participants | Fees | Tenure | Flags |
|---|---|---|---|---|---|
BOARD OF TRUSTEES OF 1199SEIU HEALTH CARE EMPLOYEES PENSION FUNDNY · 133604862-001 | $16.9B | 296,800 | $392,350 | 8y | - |
PROVIDENCE HEALTH & SERVICESWA · 510216586-010 | $10.1B | 119,632 | $375,804 | 9y | 2 |
TRUSTEES OF UFCW INT'L UNION - INDUSTRY PENSION FUNDIL · 516055922-001 | $8.2B | 204,155 | $494,768 | 10y | - |
METLIFE GROUP, INC.NJ · 550790010-001 | $7.9B | 13,404 | $53,374 | 7y | - |
PROVIDENCE HEALTH & SERVICESWA · 510216586-002 | $6.5B | 60,228 | $180,810 | 10y | - |
BERKSHIRE HATHAWAY CREDIT CORPORATIONNE · 470679606-002 | $5.2B | 33,094 | $39,468 | 3y | - |
BD OF TR OF THE PENSION, HOSP & BENEFIT PL OF THE ELEC IND-PENSIONNY · 136123601-001 | $5.0B | 41,042 | $204,402 | 2y | - |
BOARD OF DIRECTORS PRODUCER-WRITERS GUILD OF AMERICA PENSION PLANCA · 952216351-001 | $4.7B | 20,228 | $167,255 | 10y | - |
ST.JOSEPH HEALTH SYSTEMWA · 953589356-004 | $4.5B | 42,076 | $143,534 | 5y | 2 |
UMWA 1974 PENSION TRUST BOARD OF TRUSTEESDC · 521050282-002 | $3.8B | 71,051 | $52,812 | 10y | 1 |
Flag exposure
83.9%Market: 89.1%
This provider
Market baseline
Share of this provider's plans tripping any deterministic red flag this year. Lower than market baseline = better risk surface.
Aliases resolved (34)
Raw Schedule C names collapsed into Milliman.
- FIDELITY INV INST OPRTNS CO., INC.
- MILLIMAN
- MILLIMAN BENEFITS
- MILLIMAN CONSULTANTS AND ACTUARIES
- MILLIMAN CONSULTING SERVICES
- MILLIMAN FINANCIAL RISK
- MILLIMAN FINANCIAL RISK MANAGEMENT
- MILLIMAN FINANCIAL RISK MGMT
- MILLIMAN FINANCIAL RISK MGMT LLC
- MILLIMAN INC
- MILLIMAN INC - ACTUARIAL
- MILLIMAN INC.
- MILLIMAN INCORPORATED
- MILLIMAN INVESTMENTS
- MILLIMAN SOLUTIONS LLC
- MILLIMAN U.S.A
- MILLIMAN U.S.A.
- MILLIMAN US
- MILLIMAN USA
- MILLIMAN USA, INC
- MILLIMAN USA, INC.
- MILLIMAN, INC
- MILLIMAN, INC.
- MILLIMAN, USA
- MILLIMAN,INC
Book composition by plan size
Bars stack to total plans served; segments use the same asset cutoffs as the /plans size filter. Up-and-to-the-right on the bigger segments = moving up-market.
Under $5M$5-50M$50-250M$250M-1B$1B+
Compliance posture vs market
Per-flag share for Milliman's book against the same flag's overall prevalence across all filings. Negative delta = under-indexed (cleaner book); positive = elevated risk surface.
| Flag | Plans flagged | Provider % | Market % | Delta |
|---|---|---|---|---|
| Recently terminated | 21 | 3.21% | 7.76% | -4.55 pp |
| Fidelity bond gap | 10 | 1.53% | 26.94% | -25.41 pp |
| Late contributions | 74 | 11.31% | 1.71% | +9.60 pp |
| Failed to provide benefit | 3 | 0.46% | 0.14% | +0.32 pp |
| Corrective distributions | 11 | 1.68% | 1.76% | -0.08 pp |
| Loss discovered | 0 | 0.00% | 0.00% | -0.00 pp |
New-plan formation share
Share of plans filing for the first time each year that landed with Milliman. Compare to the incumbent market share (1.0%) - higher = winning new business, lower = coasting on existing relationships.
0.0%-1.0 pp vs incumbent
Frequent partners by role
Who else shows up on Milliman's plans most often. Switch tabs by counterparty role - high-overlap names are either referral channels (advisors, auditors) or competitive blocks (other recordkeepers).
| Partner | Shared plans | % of book |
|---|---|---|
| Barlow Coughran Morales & Josephson | 18 | 2.8% |
| Reinhart Boerner Van Deuren S.C. | 16 | 2.5% |
| Turner, Stoeve & Gagliardi, P.S. | 10 | 1.5% |
| Shumaker Loop & Kendrick LLP | 8 | 1.2% |
| Barlow & Coughran, P.S. | 7 | 1.1% |
| Cohen Weiss & Simon LLP | 7 | 1.1% |
| Johnson & Krol LLC | 7 | 1.1% |
| Proskauer Rose LLP | 7 | 1.1% |
| Mondress Monaco Parr Lockwood PLLC | 5 | 0.8% |
| Slevin & Hart PC | 5 | 0.8% |
Geographic penetration index
(Provider plans in state / state plans) divided by the provider's overall share of the market. Index 1.00 = average; > 1 = over-indexed (winning more than their fair share); < 1 = under-indexed (white space).