Plan Sponsor

PLANSPONSOR is recognized for its commitment to editorial integrity and impartiality, making it a reliable source of information and solutions for decision-makers in America's retirement benefits sector. Through a comprehensive range of customer-focused marketing initiatives, PLANSPONSOR provides industry providers with exceptional opportunities to connect with this key audience. Amid the evolving landscape of the retirement industry, plan sponsors and advisors turn to PLANSPONSOR magazine to keep updated on vital topics and discover innovative new solutions.

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Articles

Retirement Industry People Moves

6 days ago | plansponsor.com | Remy Samuels

Nationwide Retirement Hires Divisional Sales ManagerNationwide Retirement Solutions announced that Kevin Jones has joined the company’s distribution team as divisional sales manager focusing on specialty markets. Jones reports to Rich Porter, senior vice president of Nationwide Retirement Solutions Distribution. Jones joins Nationwide after 18 years at Edward Jones, where his experience spanned retirement product management, compliance, technology and operations.
Retirement Industry People Moves

1 week ago | plansponsor.com | Amy Resnick

MissionSquare Retirement Appoints Tom McAndrews Chief Legal OfficerTom McAndrews has been named chief legal officer at MissionSquare Retirement, reporting to the firm’s chief executive officer and president, Andre Robinson. In this new role, McAndrews will oversee MissionSquare’s Corporate Affairs Department, including legal, compliance, government affairs, research, and risk management functions, the firm said. McAndrews has been part of the MissionSquare team for more than 16 years, since 2008.
Product & Service Launches

2 weeks ago | plansponsor.com | Amy Resnick

Ascensus Automates IRA, HSA Processing for Financial InstitutionsAscensus LLC and fintech firm Janusea Inc. announced the launch of an integrated technology solution aimed at streamlining individual retirement account and health savings account administration for banks and credit unions. The integration connects Ascensus’ platform directly with financial institutions’ core systems, eliminating manual, dual entry of IRA and HSA transactions.
How Fiduciary Duty and Cognitive Decline Intersect

2 weeks ago | plansponsor.com | Amy Resnick

Plan sponsors have a fiduciary responsibility to protect participants and their retirement assets for as long as they remain in the plan, and it can become particularly challenging when workers experience cognitive decline in their later years.
How Institutions Are Trying to Spot Cognitive Decline

2 weeks ago | plansponsor.com | Amy Resnick

When a 79-year-old client asked Kevin Avent, managing director of wealth management at American Trust Co., to withdraw more than what was in one account, Avent realized something was very wrong. “He requested funds that were just wildly over the number that’s been there for 20-plus years,” says the Lexington, Kentucky-based Avent of the moment he first suspected his client was experiencing cognitive decline.
Cognitive Decline and Financial Fraud: The Resources

2 weeks ago | plansponsor.com | Amy Resnick

Older Americans have become a prime target for financial fraud and scams. A recent white paper from retirement solutions provider TIAA noted that the Federal Trade Commission received nearly 400,000 fraud and scam complaints from adults aged 60 and older in 2023. It is a lucrative market for criminals: those complaints reflected $1.9 billion in total losses. The TIAA report highlighted several factors that make older adults more likely to be victimized than younger people.
PRT Volume Slips in Q1 Due to Market Volatility

2 weeks ago | plansponsor.com | Amy Resnick

Pension risk transfer transactions became slightly more expensive to complete in March, largely due to shifts in tariff policy and economic volatility. According to Milliman, the cost to offload corporate pension plan liabilities to an insurer through a PRT transaction rose to 102.5% of a plan’s liabilities in March, up from 101.7% in February. Milliman also estimated the average annuity purchase cost rose to 104.3% at the end of March, up from 101.7% in February.
Are CITs Approved As Investments in 403(b) Plans?

2 weeks ago | plansponsor.com | Amy Resnick

Q: I noticed that it has been more than two years since the Experts shared information about the possibility of CITs in 403(b) plans. Any update? Kimberly Boberg, Kelly Geloneck, Emily Gerard and David Levine, with Groom Law Group, and Michael A.
Retirement Industry People Moves

2 weeks ago | plansponsor.com | Amy Resnick

BNY Investments Names Germano As COO Michael Germano has joined BNY Investments as chief operating officer. According to Germano’s LinkedIn profile, he is “responsible for commercial and investment operations, data and reporting operations across Mellon, Dreyfus, BNY Advisors, Newton, and distribution activities in North America, EMEA, and APAC.” . Germano moves to BNY from Newton Investment Management Group, where he was global chief operating officer for two years.
PLANSPONSOR Roadmap: Fiduciary Process Action Plan

2 weeks ago | plansponsor.com | Remy Samuels

Just as plan sponsors must uphold their fiduciary duties when managing their retirement plans, the same is true for health care plans, which require thorough documentation, requests for proposals, committee-member training and more.