ABG-Pentegra Names Regional Director

Alliance Benefit Group-Pentegra hired Esta Park as a regional director.

 

Park will be responsible for business development in North and South Carolina.

“We are extremely pleased to have someone as talented and experienced as Esta join our organization,” said Pete Swisher, Pentegra’s senior vice president of national sales. “She will be a tremendous asset to ABG-Pentegra’s business development efforts in the Carolinas.”

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Park has more than 20 years of experience in financial services and has spent more than 15 years working exclusively in the qualified plan arena. She began as a financial adviser for Interstate/Johnson Lane, followed by Merrill Lynch.

Park also spent 15 years as director of sales for Morehead Plan Administrator, a TPA in Charlotte, North Carolina, where she expanded her knowledge of qualified retirement plans.

Park is a graduate of the University of Richmond, Virginia, and also attended Campbell University School of Law, North Carolina.

 

Pension Funding Rebounds in June

The funded status of the typical U.S. corporate pension plan rebounded 1.8 percentage points to 71.6% in June, according to the BNY Mellon Pension Summary Report.

BNY Mellon credited the June improvement to strong equity markets in the U.S., which rose 3.9%, and in developed international markets, which increased 7%. These strong performances resulted in a 2.7% gain in assets at the typical U.S. corporate pension plan, according to the report.  

Liabilities for the typical corporate plan rose 0.1% in June, as the Aa corporate discount rate remained unchanged at 3.98%, BNY Mellon said.

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