OppenheimerFunds Drops Fees for Retirement Services Platforms

OppenheimerFunds, Inc.'s Retirement Services announced enhancements to its Pinnacle and Record(k)eeper Pro retirement programs.

OppenheimerFunds said the enhancements eliminate installation fees and reduce proprietary fund requirements for certain plans. Pinnacle and Record(k)eeper Pro installation fees have been eliminated for all plans with at least $3 million in total assets.

According to a release, for Pinnacle plans, the reduced proprietary fund requirements allow more flexible fund selection and greater diversification among fund managers. The Pinnacle updates include:

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

  • Plans with $500,000 or less in total assets: 10 of 20 funds may be from outside managers.
  • Plans with $500,000 to $3 million in total assets: 14 of 20 funds may be from outside managers.
  • Plans over $3 million in total assets: no requirements.


More information is availabe at www.oppenheimerfunds.com.

Murphy Leaves, Popp Pops in as JPMorgan Retirement Plan Services CEO

JPMorgan announced the appointment of Pamela Popp as CEO of JPMorgan Retirement Plan Services, after seven months with the previous CEO.

James Murphy served a brief reign as CEO, after leaving State Street in February to take the job (see JPMorgan Taps Murphy for Retirement Plan Services Post).

Popp will be responsible for leading the strategy for the firm’s retirement plan recordkeeping business. She will report to Eve Guernsey, chairman of the firm’s Retirement Plan Services business and CEO of JPMorgan Asset Management in the Americas.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

Popp has spent the last 13 years with JPMorgan, most recently as COO of Retirement Plan Services’ Emerging Markets business, as well as more than 20 years in the industry overall, a press release said. At JPMorgan, her responsibilities have also included heading the sponsor services organization and leading the CCA Strategies acquisition in 2006.

Prior to joining JPMorgan, Popp held several roles with American Century Investments and Hewitt Associates.

“We are fortunate to have someone with Pam’s tested leadership, industry expertise and dedication to Retirement Plan Services to lead the company,” said Guernsey, in the release.

«