Products June 10, 2011

DST Introduces Retirement Income Solution

DST Retirement Solutions has hired Ian Sheridan as division vice president to implement its new Retirement Income Information Clearing & Calculation (RICC) offering.
Reported by

RICC is a central clearing and stand-alone recordkeeping platform designed to process and support guaranteed income products and their features, as well as integrate systems that support retirement income, DST announced. The solution allows for information sharing and provides capabilities to add, store and change guaranteed income contract details. Retail and institutional recordkeeping platforms can work with RICC and it can support multiple calculations for different products.

Sheridan will be responsible for bringing this solution to market. He most recently served as president of First Mercantile Trust Company, a member of the MassMutual Financial Group.  He has also worked at ADP Retirement Services and other industry-leading financial services companies.

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“The income investment solution set that RICC will serve comprises annuities and a broad range of daily traded investment products. I am excited to lead the initiative to bring this solution to market to help product manufacturers, product sponsors, insurance carriers and recordkeepers communicate with each other without having to build or purchase systems that have to be retrofitted to legacy systems-or worse, delaying solutions that can help workers today,” said Sheridan.

 

Deals & People June 9, 2011

Brambley Moves to PEI

Trisha Brambley has joined New Jersey-based Portfolio Evaluations, Inc. (PEI).
Reported by

Bramley has been named Executive Vice President of Media Relations and Senior Consultant at PEI.

According to the company, the media relations role is a new position where Brambley enhances media exposure to communicate the solutions that PEI employs to help protect plan fiduciaries. In her role as consultant, Brambley utilizes her industry experience and knowledge to provide guidance and education to plan fiduciaries.
Brambley founded RESOURCES for Retirement, a plan advisory firm dedicated to aiding plan sponsors with retirement plan administration.

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This week, RESOURCES for Retirement announced that Carmela Elco had been named president, succeeding Brambley (see “RESOURCES for Retirement Appoints President“).

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