Bret Linton

FSA, MAAA, EA

Chair of the Milliman Board of Directors

Seattle, WA, US

Bret Linton is the Chair of the Milliman Board of Directors. He joined the firm in 2009 and was elected Chair in 2025. Prior to stepping into this role, Bret served as Milliman’s Global Employee Benefits Practice Director for four years. He is a Milliman principal and consulting actuary with 28 years of experience.

As Chair, Bret harnesses the firm’s strong culture of innovation to provide solutions for a world at risk, and to better support clients and communities around the world.

In addition to leading the Milliman Board of Directors, Bret serves on the board of two other organizations.

Download bio

Loading component...

Experience

Bret’s actuarial expertise is rooted in financial risk, enterprise risk management, HR consulting, risk management, and employee benefits design. He has worked with private, multiemployer, and public employers specializing in retirement plan consulting.

True to his innovative nature, Bret created Milliman’s Daily Pension Tracker tool (MDPT) to help clients value their plans daily, providing key information to effectively implement dynamic asset allocation strategies and determine when to reallocate assets and reduce volatility risk.

Before joining Milliman, Bret performed HR operational due diligence for private equity investors and strategic buyers. His experience includes cost analysis of HR programs, benefit integration analysis, financial risk exposure assessments, transition services agreements, and benefit program negotiations.

Bret is fluent in Spanish. He has mentored and led training sessions to Spanish-speaking actuaries and pension administrators.

Publications and Presentations

Bret has spoken before professional and client groups and has authored articles on employee benefits for Milliman.

Professional Designations

Fellow, Society of Actuaries
Enrolled Actuary under ERISA
Member, American Academy of Actuaries

Education

BS, Statistics, Brigham Young University

Affiliations

Member, Council on Employee Benefits
Member, Western Pension and Benefits Conference, Boise Chapter

Loading component...

Publications

Read their latest work

Article

Unfreezing a defined benefit pension plan: 10 frequently asked questions

14 August 2024 - by Bret Linton, William Strange, Zorast Wadia

As many frozen pension plans face a unique opportunity to reopen to new participants and leverage excess assets, we answer some common questions from plan sponsors.

Article

Critical Point Episode 34: Pension risk hibernation – an alternative to annuity buyouts

14 October 2021 - by Zorast Wadia, Charles J. Clark, Bret Linton

Here to discuss pension risk mitigation versus risk transfer are Zorast Wadia, a principal with Milliman, and Bret Linton, the Employee Benefits Practice director at Milliman.

Article

To evaluate pension risk transfer plan sponsors need the whole picture

17 September 2021 - by Zorast Wadia, Bret Linton

Given the greater flexibility and lower costs provided under ARPA’s provisions, plan sponsors should seize this moment to reevaluate and optimize their risk management strategies by considering the whole picture.

Article

Client Action Bulletin: Single employer defined benefit pension plan relief enacted in the American Rescue Plan Act of 2021

10 March 2021 - by Vanessa Vaag, Bret Linton

Client Action Bulletin: How the Rescue Plan Act brings relief for defined benefit plans of single employers.

Article

Benefits alert: “Partial Plan Termination” relief for qualified 401(k), 401(a) defined contribution plans and defined benefit pension plans in the Consolidated Appropriations Act, 2021

29 December 2020 - by Bret Linton, Vicki Mazzie, Vanessa Vaag

In addition to annual funding for the federal government and provisions on economic stimulus necessitated by the COVID-19 pandemic, the Consolidated Appropriations Act, 2021, enacted on December 27, includes temporary relief from the minimum vesting standards tax rules for employer-sponsored retirement plans- both defined contribution and defined benefit pension plans.

Article

Benefits Alert: Coronavirus distributions consideration for DB Plans under the CARES Act

29 April 2020 - by Bret Linton, Vicki Mazzie, Vanessa Vaag

The Coronavirus Aid, Relief, and Economic Security Act permits a “qualified individual” to certify to the employer that they qualify to elect a coronavirus-related distribution.

Article

Navigating retirement risks

18 December 2018 - by Kelly Coffing, Ryan Cook, Micah Darnall, Bret Linton, Bruce R. Mitton, Sarah Murray, Arthur Rains-McNally, Stephanie Sent

The retirement benefit is an important component of the benefits package, but most retirement plans are falling short.

Article

Mergers & acquisitions: Pension plan due diligence

27 December 2017 - by Bret Linton

Milliman helps a client review the single-employer defined benefit pension plan of a potential acquisition.

Article

The challenge: Reducing PBGC variable rate premiums

23 February 2017 - by Bret Linton

What are the options that one plan sponsor considered to reduce the variable rate premiums portion of the fees?

Article

Case study: Immunizing liabilities with the Milliman Daily Funded Status model

24 May 2013 - by Bret Linton

Milliman immunizes a client's liabilities on an accounting basis, enabling them to make investment decisions on a daily basis, based on the daily funded status of its pension plan.

Bret Linton

Loading component...

Experience

Loading component...

Read their latest work

Unfreezing a defined benefit pension plan: 10 frequently asked questions

Critical Point Episode 34: Pension risk hibernation – an alternative to annuity buyouts

To evaluate pension risk transfer plan sponsors need the whole picture

Client Action Bulletin: Single employer defined benefit pension plan relief enacted in the American Rescue Plan Act of 2021

Benefits alert: “Partial Plan Termination” relief for qualified 401(k), 401(a) defined contribution plans and defined benefit pension plans in the Consolidated Appropriations Act, 2021

Benefits Alert: Coronavirus distributions consideration for DB Plans under the CARES Act

Navigating retirement risks

Mergers & acquisitions: Pension plan due diligence

The challenge: Reducing PBGC variable rate premiums

Case study: Immunizing liabilities with the Milliman Daily Funded Status model

Loading component...

CHOOSE A LOCATION AND LANGUAGE

Bret Linton

Experience

Read their latest work

Unfreezing a defined benefit pension plan: 10 frequently asked questions

Critical Point Episode 34: Pension risk hibernation – an alternative to annuity buyouts

To evaluate pension risk transfer plan sponsors need the whole picture

Client Action Bulletin: Single employer defined benefit pension plan relief enacted in the American Rescue Plan Act of 2021

Benefits alert: “Partial Plan Termination” relief for qualified 401(k), 401(a) defined contribution plans and defined benefit pension plans in the Consolidated Appropriations Act, 2021

Benefits Alert: Coronavirus distributions consideration for DB Plans under the CARES Act

Navigating retirement risks

Mergers & acquisitions: Pension plan due diligence

The challenge: Reducing PBGC variable rate premiums

Case study: Immunizing liabilities with the Milliman Daily Funded Status model

CHOOSE A LOCATION AND LANGUAGE