AllianceBernstein Launches Multimanager Target-Date Solution

AllianceBernstein has launched its Multimanager Retirement Strategies (MRS) target-date solution.

According to a press release, the offering “combines the strength of four world-class, institutional investment managers in one target-date fund”. Institutionally-priced, MRS is positioned as an alternative to single manager target-date funds, “with the distinct flexibility of providing the glide path that best meets the needs of the plan and its participants,” according to the announcement.

“More and more defined contribution plan sponsors are recognizing that the single-manager target-date funds they originally chose—perhaps retail mutual funds offered by their recordkeepers—might not be keeping up with the best thinking on target-date design available in the marketplace today,” said Thomas J. Fontaine, Global Head of Defined Contribution at AllianceBernstein Defined Contribution Investments (“ABDC”). “Yet they are not quite ready to take a fully customized approach, perhaps due to the perceived effort to create and monitor these portfolios on an ongoing basis. For these plans, we designed Multimanager Retirement Strategies, which diversifies manager risk while maintaining the simplicity and convenience of a prepackaged solution.”

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The MRS multimanager service includes a blend of active and passive investment strategies, including the participation of fund managers PIMCO, State Street Global Advisors, Wellington Trust Company, NA, an affiliate of Wellington Management Company, LLP, and AllianceBernstein.

“Through our experience in designing customized target-date solutions over the past four years for some of the country’s largest plans, we’ve gained valuable insight into what plan sponsors want and need in their target-date portfolios. Many sponsors realize the dominant role these funds will play in their plans and are seeking better solutions,” said Mark Fortier, Head of ABDC Product and Partner Strategy. “MRS is a simple solution that grows with a plan and can adapt to its needs over time.”

MRS is available to defined contribution plans with a minimum of $50 million in target-date assets. To learn more about MRS, please go to www.abdc.com/multimanager-retirement-strategies.

Clarity Expands its Actuarial Practice

Clarity in Numbers, LLC (Clarity) today announced its addition of a new practice leader to consult with closely held businesses.

According to a press release, Alex Kuhel has been hired to lead the Cash Balance Plan practice.  Before joining Chicago-based Clarity, Kuhel served as Consulting Actuary for over 100 closely held businesses nationwide, according to a press release.  Prior to that, he served as primary consultant for several law firms and smaller organizations at J.P. Morgan Compensation and Benefits Strategies, along with Towers Perrin and Price WaterhouseCoopers.

The firm also said that Shawn Marnell was recently hired to lead Clarity’s Defined Benefit Administration practice.  Prior to joining Clarity, Marnell managed call centers and benefit administration teams serving retirement plan sponsors of all sizes as an Administrator for Mercer LLC and Hewitt Associates.  He maintains responsibility for providing Clarity’s outsourcing solution for defined benefit administration services.

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Other recent additions to the firm include:

Jeffrey M. Van Wagner, who assists employers in providing actuarial valuation, administration and consulting services in many industries: not-for-profit, tax-exempt, and publicly traded Fortune 100 companies.  “Jeff leads the efforts to ensure that management understands the significant impact oftheir employee benefit programs during business combinations and divestitures by providing financial statement and cash flow analyses, purchase price considerations, and post-merger integration and design. Jeff also provides guidance and leads the process for our clients in the event of a plan freeze, or plan termination,” according to a press release.  Before joining Clarity, Van Wagner was with Towers Watson, formerly Watson Wyatt Worldwide, and Ernst & Young. 

Anna M. Mitchell brings both accounting and actuarial perspectives to Clarity’s clients with close to 20 years of experience at three other major benefits consulting firms, according the firm.  Mitchell served as a lead consultant and set peer review procedures for retirement clients at a national consulting and accounting firm. Before joining Clarity, Mitchell served as lead consultant and client manager with RSM McGladrey, Mercer LLC, and Towers Watson, formerly Towers Perrin.

Clarity is a national actuarial consulting practice focused on serving small-to-medium-sized businesses and any size governmental organization. More information about Clarity In Numbers is available at http://www.clarity-llc.com

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