Empower to Acquire Milliman’s Retirement Administration Business
Transaction strengthens Empower’s defined benefit administration capabilities and advances integrated workplace benefits strategy
Company bolsters defined contribution footprint, adds health and welfare benefits administration capabilities
Empower and Milliman, Inc. today announced they have entered into a definitive agreement for Empower to acquire Milliman’s retirement administration business. The acquisition will add significant expertise, broader capabilities and an expanded workplace solutions portfolio to Empower’s existing business.
Milliman is retaining its retirement and healthcare actuarial consulting business and expects to enter a strategic partnership with Empower following the close of the transaction.
