Pentegra Announces Two Sales Hires

Pentegra Retirement Services announced that Ken Jackson and Greg Hagan are new Regional Marketing Directors.

Jackson will be responsible for bank business development efforts, while Hagan will lead credit union business development efforts. Jackson will be based in Colorado, and Hagan will be based in Dallas, Texas, working under the direction of John Schafer, Vice President and Director, National Markets.   

According to the announcement, Jackson brings more than fifteen years of industry expertise to Pentegra. Prior to joining Pentegra, he worked as a sales agent at Euler Hermes ACI, where he was responsible for business development efforts with Trade Credit Insurance to banks in the central and western regions. Prior to that, he was a Business Development Manager at Private Business Incorporated.  

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Hagan brings more than twenty years of industry experience to Pentegra. Prior to joining Pentegra, he served for the past ten years as Vice President of Sales & Business Development at CUTS Performance Marketing/Credit Union Tax Services. He has also held positions at TRE Financial Services, Allied Solutions and SWBC. Hagan holds a Bachelor of Arts degree from Texas State University.

Northrop Grumman Plaintiffs Win Class Certification

A federal judge in California has certified as a class plaintiffs suing Northrop Grumman Corporation in an excessive 401(k) plan fee case.

The decision by U.S. District Judge Margaret M. Morrow of the U.S. District Court for the Central District of California came in the long-running case naming the corporations and a number of individuals. The case was originally filed in September 2006.

Plaintiffs claimed the defendants violated their Employee Retirement Income Security (ERISA) fiduciary responsibilities by including in their retirement plans investment options for which plaintiffs claim the fees were too high.

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According to Morrow’s order, the class now includes all persons, excluding defendants, the Committees and/or other individuals who are or may be liable for the conduct described in the complaint, who within the period of the statute of limitations are or were participants or beneficiaries of the Northrop Grumman Plans who were, are, or may have been affected by the conduct set forth in this Complaint, as well as those who will become participants or beneficiaries of either Plan in the future.

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