Milliman recently completed a review of the design of the Milliman Hedge Cost Index™ (MHCI) for a hypothetical guaranteed lifetime withdrawal benefit (GLWB) rider on variable annuities (VAs) and implemented some changes to align product features and assumptions with those prevalent in the marketplace. In addition, in response to the increasing popularity of registered index-linked annuities (RILAs), Milliman developed a new variation of the MHCI for GLWB on RILA alongside the existing VA GLWB index under the MHCI umbrella.