Deals & People May 30, 2013

Mutual of Omaha Names 401(k) Sales Director

Patrick J. Bello was named 401(k) national sales director of Mutual of Omaha Retirement Services.
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Bello leads a sales management team overseeing a national network of 401(k) wholesalers who provide a full range of retirement product solutions. His team works with regional and national broker-dealers and third-party administrators to develop product distribution strategies on behalf of Mutual of Omaha Retirement Services.

Bello has 24 years of experience in retirement plan sales, management and client service. He comes to Mutual of Omaha from ING Retirement Solutions, where he was senior vice president of corporate markets for the Northeast. He joined ING in 2008 as part of its acquisition of CitiStreet, a joint venture between State Street and Citigroup. Bello started at CitiStreet in 1996 and in 2002 was named executive vice president and managing director of the corporate markets group in the  retirement services division. He held a management position with Towers Perrin before joining CitiStreet.

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Bello holds a bachelor’s degree in economics with a concentration in finance from Bethany College in Bethany, West Virginia. He is a FINRA Registered Principal and has completed courses and examinations at the American Society of Pension Professionals and Actuaries.

Products May 30, 2013

ADP Introduces Plan Health Review

ADP released the ADP Plan Health Review, a tool to help plan sponsors measure the retirement readiness of their employees.
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The tool is designed to help clients measure their retirement plan’s success and provide actionable solutions for participants to achieve financial security in retirement.   

The Plan Health Review provides plan sponsors with demographic statistics about plan utilization that can help identify employee groups that require help with planning. It also scores four critical measures of success using a proprietary, easy-to-understand system to help focus plan sponsors on areas of greatest opportunity, including participation rate, participant deferrals, participant investment usage, and participant usage of loans and withdrawals.  

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With the information provided in the Plan Health Review, plan sponsors receive a view into the actions needed to optimize the performance of their plan and the savings habits of their employees. Steps such as adjusting plan design, changing investment options or further educating employees about the value of participation and maximizing their contributions can dramatically improve plan performance and employee retirement readiness.  

For more information, visit www.adp.com/401k or call 800-432-401k.

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