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Plan History

In the early 1970s, Farmers Union Central Exchange, later known as CENEX and part of Cenex Harvest States (CHS), developed a thrift savings plan for its affiliated local cooperatives. That savings plan matured into the Co-op 401(k) Plan, the largest plan of its type in the United States, which Milliman has continued to successfully administer and grow over the years.

  • The Plan implements InvestMap as an investment option
  • Plan assets top $600 million
  • The Fiduciary Board approves adding InvestMapTM as an investment option
  • MillimanBenefits.com now available in Spanish
  • The Fiduciary Board approves a flat fee structure
  • Plan assets top $500 million
  • Quarterly statements are delivered electronically online; Update is distributed via email.
  • The Plan unveils informational website - www.Coop401kPlan.com
  • Fiduciary Board approves increased flexibility for profit sharing allocations, eligibility rules, and vesting schedules
  • Roth 401(k) contributions are added to the plan
  • The Milliman Co-op 401(k) Plan Fiduciary Board approves the plan's seventh overall and third consecutive fee reduction
  • Milliman introduces a new, more personalized account statement
  • Plan assets top $400 million
  • Milliman unveils a new branding identity for the Co-op 401(k) Plan
  • The Co-op 401(k) Plan Fiduciary Board approves the plan's largest fee reduction in its 11-year history
  • Milliman expands the plan's Benefits Service Center and adds paperless withdrawls
  • The Milliman Co-op 401(k) Plan celebrates 10 years of service
  • Plan assets top $300 million
  • Milliman adds options for participants to have their accounts professionally managed through Agi-Invest, LLC
  • Milliman launches a comprehensive investment advice program
  • Online investment advice module and auto rebalance features added to the plan's Web Service Center
  • Same-day exchange capabilities are implemented
  • Plan assets top $200 million
  • Milliman partners with Agi-Invest to offer direct investment advice for retirees and participants nearing retirement
  • The plan's Web Service Center is launched
  • Triangle Cooperative Service Company endorses the plan
  • Farmland Industries merges with SF Services and selects Milliman as the preferred 401(k) plan provider for 60 local cooperatives affiliates
  • Plan assets reach $100 million
  • 21 Harvest States affiliates consolidate with the plan
  • Assets are transferred to the Charles Schwab Trust Company
  • Milliman unveils a new participation review program designed to boost employee participation
  • Milliman is hired as the new service provider for the plan, which is renamed Co-op 401(k) Plan
  • The Y.E.S. Retirement Plan Committee is officially recognized

Total Retirement Readiness

Use PlanAhead for Retirement and include your pension benefits to help project a more complete retirement readiness picture. For more information, log on to MillimanBenefits.com

Next steps