Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 2nd, 2015
Benefits & Administration
Insurance Can Play a Part in Retirement Income Planning
Employees should start their retirement income planning sooner rather than later. They may have limited sources of retirement income. The timing of Social Security can make a difference, and their biggest worry is long-term care needs, according to Stephen Locko, executive vice president and chief operations officer (COO) at ISN Network, a firm that provides back office support to financial professionals. “Insurance is where you can really provide a lot more benefit to employees,” he said.Read more >
HSAs a Growing Retirement Savings Opportunity
A new study from Avidia Bank predicts an impending “wave of investment growth” in health savings accounts (HSAs), despite relatively weak uptake among workplace investors and retirement savers so far. “Over the past six months, every new group or broker that I encounter has inquired if Avidia offers investment options for HSA programs,” observes Lynda Westbrook, vice president of Avidia Bank’s Healthcare Solutions business. “They tell me that the group’s president, CEO or HR director wants it and that their employees are asking as well.”Read more >
Products, Deals & People
BPAS Expands DC Plan Administration Business
BPAS, a national provider of administration, actuarial, consulting and institutional trust services to benefits plans in the U.S. and Puerto Rico, has acquired the daily valuation-defined contribution (DC) plan administration practice of Lifetime Benefit Solutions (LBS), a subsidiary of Lifetime HealthCare Company.Read more >
Sun Life Investment Management has agreed to purchase Prime Advisors. The acquisition is part of Sun Life Financial’s strategy to broaden its asset management pillar by expanding and diversifying the capabilities of Sun Life Investment Management, which provides investment services to third parties and manages Sun Life’s general account.Read more >