Vanessa Vaag

FSA, EA, MAAA

Principal & Consulting Actuary

Little Falls, NJ, US

Vanessa Vaag is a principal and consulting actuary with the Little Falls, New Jersey Employee Benefits Practice of Milliman. She joined the firm in 1994.

1 973 569 5629

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Experience

Vanessa specializes in corporate retirement plan consulting. Areas of expertise include all aspects of design, administration, valuation, and consulting on defined benefit plans, supplemental executive plans, and retirement incentive programs. Client assignments include ongoing plan valuation and administration, GAAP and SSAP financial accounting, governmental CAS valuations, budgeting and cost projections, legislative compliance, and design and redesign of benefit plans. She has extensive experience with asset-liability forecasts and de-risking strategies, plan terminations, and is an active member of Milliman’s international merger and acquisition team.

Publications and Presentations

Vanessa regularly speaks before professional and client groups. Her clients have included public entities, hospitals, and other not-for-profit organizations, professional organizations, and international corporations.

Professional Designations

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

Education

BS (summa cum laude), Mathematics and Economics, Muhlenberg College

Publications

Read their latest work

Article

Benefit plans staring down tariff turmoil

12 May 2025 - by Vanessa Vaag, Marcella Giorgou

Amid tariff turbulence, we offer guidance for employers balancing compensation and benefit programs with profitability.

Article

Alternatives to plan termination: Balancing sponsor concerns and participant security

19 March 2025 - by Vanessa Vaag

In lieu of terminating a DB pension plan, we present seven alternative strategies to help plan sponsors address concerns and preserve participant retirement security.

Article

DB plan key considerations in anticipation of 2024 interest rate cuts

01 March 2024 - by Jack Chmielewski, Vanessa Vaag

With the U.S. Federal Reserve likely to start cutting interest rates in 2024, we discuss six ways defined benefit plan sponsors can prepare for the impact.

Article

SECURE 2.0, RISE & SHINE and EARN Act surprises: How the “small” pension cash-out limit could change

30 August 2022 - by Charles J. Clark, Vanessa Vaag

After the passage of Secure 2.0 and other legislation, we think a higher cash-out limit could benefit both plan sponsors and participants in some cases.

Article

Benefits alert: American Rescue Plan Act guidance by IRS for single employer DB plans emphasizes written elections for compliance

02 August 2021 - by Vanessa Vaag, Charles J. Clark

Internal Revenue Service (IRS) Notice 2021-48 has been released with compliance guidance under the American Rescue Plan Act of 2021 (ARPA) for single employer defined benefit (DB) pension plan sponsors and their U.S. tax-qualified retirement plan advisors.

Article

Critical Point Episode 30: How the American Rescue Plan Act can impact single and multiemployer pension plans

19 April 2021 - by Charles J. Clark, Vanessa Vaag, Grant Camp

This podcast episode explores how the American Rescue Plan Act may impact single and multiemployer pension plans, and what plan sponsors should consider when taking potential action as a result of ARPA.

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

The SECURE Act did affect defined benefit plans: A summary of possible actions for DB plan sponsors

26 February 2020 - by Vanessa Vaag, Mary Hart

This article confirms that certain defined benefit (DB) pension plan changes included in the Setting Every Community Up for Retirement Enhancement (SECURE) Act may lead to technical and administrative concerns for DB plan sponsors, who should be prepared to address them after careful inspection of the new law.