Deals & People June 28, 2013

CEO Named for Retirement Systems Data

Tom Hogan has been appointed chief executive officer of Retirement Systems Data, LLC (RSD).
Reported by

Most recently, Hogan was the head of MetLife Resources and as its chief executive, led the division of the company serving the needs of the not for profit market with retirement assets totaling more than $35 billion. He is a recognized authority on retirement-related issues and a leader in the 403(b) marketplace.

During his 27-year career with MetLife, Hogan held positions of responsibility in financial and business areas both in the U.S. and Canada. He is a Certified Public Accountant and holds Series 7 and 24 designations. Hogan is a graduate of the University of Scranton.

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RSD is a subsidiary of Double Rock Corporation–a developer of outsourcing solutions for the retirement focused on improving processing efficiency for plan sponsors and their recordkeeping partners, as well as enhancing the customer experience for plan participants.

Compliance June 27, 2013

DOL Extends Lifetime Income Comment Period

The U.S. Department of Labor (DOL) is allowing stakeholders more time to comment on lifetime income illustrations given to participants in defined contribution (DC) retirement plans.
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On May 7, the DOL’s Employee Benefits Security Administration (EBSA) issued an advance notice of proposed rulemaking on lifetime income illustrations for DC plan participants to provide an opportunity for stakeholders to give early input into the development of regulations (see “DOL Seeks Comments About Lifetime Income Data”). The deadline for comments was July 8.  

The EBSA has extended the comment period to August 7.   

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Last week, nine organizations sent a letter to the agency asking for more time to comment (see “More Time Needed for Lifetime Income Comments”).

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