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House Education and Labor Committee Chairman George Miller (D-Calif.) declared the present 401(k) system “paralyzed” by the financial crisis Oct. 22 at The Impact of the Financial Crisis on Workers Retirement Security, a hearing held by his committee in San Francisco.
The confidence of the North American investor dropped dramatically in October, new data has shown.
Wellesley, Massachusetts. The U.S. division of Sun Life Financial has enhanced living benefit solutions available on its Masters variable annuities.
Elyria, Ohio Equity Trust Company has appointed Michael Dea as its President and Chief Financial Officer.
New York City Deferred Compensation Plan extended the deadline for responses to the $8.5 billion plan’s RFP for a master custodian to November 7. (Pensions & Investments)
Money Portal has launched a new company called Annuity Portal which aims to offer an annuity referral service to all advisers. (Money Marketing)
Mutual of Omaha is offering employers a 401(k) managed account feature through an arrangement with PMFM. (Plan Sponsor)
The Profit Sharing/401k Council of America has unveiled its restructured 401k.org web site. For more information visit www.401k.org (Plan Sponsor)