Deals & People February 16, 2010

Hayes Tapped for NRS Sales Head

Nationwide Financial Services, Inc., has turned to Cain Hayes as senior vice president and chief sales officer for Nationwide Retirement Solutions (NRS), the company announced.
Reported by

A Nationwide news release said that Hayes will lead Nationwide’s distribution teams for public-sector retirement plan sales, bundled retirement plan services, and managed accounts for retirement plans. Hayes will also be responsible for leading the management of key customer and business partner relationships.

According to the company, Hayes joined Nationwide in 2008 as vice president and managing director of its bundled retirement plans business. Before that, Hayes spent 17 years with Principal Financial Group, holding leadership positions at the regional and national level within its retirement plans sales organization.

Products February 16, 2010

Newkirk Releases Retirement Readiness Package

Albany, New York-based Newkirk, a retirement plan communications provider, has unveiled a suite of retirement readiness communications and reports.
Reported by

A Newkirk news release said the services include targeted participant communications identifying possible shortfalls in retirement income that also suggest corrective steps, sponsor reports identifying shortfalls on a participant-by-participant basis, and tools enabling providers and sponsors to analyze deficiencies by demographic segments.

For example, a Security Report suggests changes not only to a participant’s deferral amounts but also to asset allocations where a shortfall in anticipated retirement income is projected.

“Our expanded gap analysis services are intended to, first, make sponsors aware of the magnitude of the problem among their participants and, second, communicate the nature of the problem to those participants with a shortfall,” said Pete Newkirk, Newkirk president, in the news release.

More information is available at www.newkirk.com/gap.html. 

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