Products April 5, 2010

AUL Offers Stable Value Investment Option

American United Life Insurance Company (AUL) has launched the AUL Stable Value Account for select AUL participants.
Reported by

With the AUL Stable Value Account, guaranteed interest is earned and backed by AUL’s general account assets and subject to the claims paying ability of AUL, the firm said. Participants also can transfer money into and out of the account without any restrictions.   

There is approximately $642 billion invested in stable value assets in more than 167,000 defined contribution plans, according to the Stable Value Investment Association, as cited by AUL.

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Deals & People April 5, 2010

Former ERIC Chair Joins Covington’s Benefits and Compensation Practice

Scott Macey has joined Covington & Burling’s employee benefits and executive compensation practice group as of counsel.
Reported by

Macey will be resident in the firm’s Washington office. 

According to the firm’s announcement, Macey has more than 30 years of experience advising clients on health care, pensions, and executive compensation. Most recently, he led Aon Consulting’s government affairs practice, covering tax matters, health care issues, and the Employee Retirement Income Security Act (ERISA).   

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In addition, Macey has made numerous appearances before congressional committees and the Department of Labor, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation to address employee benefits matters. He was chairman of the ERISA Industry Committee from 1995 to 1998. 

Before joining Aon, Macey was senior counsel to AT&T on employee benefits, ERISA, and related matters. 

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