Cook parsnip in boiling water in a large saucepan 20 minutes or until tender; drain.
Combine milk, salt, pepper, and broth in a 2-cup glass measure. Place parsnip in a food processor; process until smooth, scraping sides of processor bowl occasionally. With processor on, slowly add milk mixture through food chute, processing until well-blended.
Note: This dish can be made 3 days ahead and stored in the refrigerator. To reheat, place pureé in the microwave on MEDIUM for 5 minutes, stirring once halfway through.