Deals & People December 11, 2007

Hancock Names Senior VP for Sales Development

John Hancock Retirement Plan Services (JHRPS) has turned to Paul Fichera as Senior Vice President of Sales Development Services.
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Fichera will be responsible for MIS, budget, compensation, IT initiatives, training and development, conference planning, broker services, and the resource center for large plans. He also will be a member of the JHRPS senior management and strategy team, the company announced in a news release.

Prior to joining John Hancock, Fichera was Senior Vice President, Director of Product Development and Sales Support at Massachusetts Financial Services (MFS).

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Before MFS, Fichera worked for 12 years at Putnam Investments.

Fichera graduated with a Bachelor’s degree from Wesleyan University and holds an MBA from Babson College.

Deals & People December 11, 2007

DailyAccess Adds RolloverSystems to Platform

RolloverSystems Inc. (RSI) announced that DailyAccess has included RSI's retirement plan rollover and support services on its recordkeeping and administrative services platform.
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An RSI news release said plan sponsors and their advisers will be able to outsource the processing of terminated participants, including communications, education, and guidance for participants making rollover decisions.

Through RSI, terminated participants with low account balances ($5,000 or less, depending on the plan provisions) who do not request a cash distribution or a direct rollover distribution can be automatically rolled into a default IRA account chosen by the plan sponsor.

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“Plan sponsors and their advisers are increasingly recognizing that a rising number of low-balance and terminated accounts, created by the mobility of the workforce and exacerbated by the growing popularity of automatic enrollment, are creating costly inefficiencies and time-consuming administrative headaches,” said Spencer Williams, CEO of RolloverSystems, in the announcement.

For more information, visit www.RolloverSystems.com.

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