Deals & People April 17, 2012

Littler Adds Three Attorneys

Littler Mendelson PC (Littler) added three attorneys to the firm’s expanding Employee Benefits and Executive Compensation Practice.  
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Two new shareholders and an associate from Seyfarth Shaw LLP—David M. Weiner, Judith L. Wethall and D. Finn Pressly—joined Littler’s Chicago office. The trio brings extensive retirement, health and welfare benefit experience, as well as expertise in executive compensation. 

 Weiner is a former executive compensation and employee benefits consultant, whose legal practice focuses on assisting clients with strategic and technical aspects of benefits and compensation compliance. He is a Lean Six Sigma Black Belt and was co-chair of the Health and Welfare Practice Group at Seyfarth, where he designed service delivery models that achieved clients’ compliance and business objectives. He received his J.D. with honors from Loyola University Chicago School of Law and his B.S., cum laude, from the University of Illinois.

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Wethall has extensive experience in health and welfare plans, including all aspects of healthcare reform, the Health Insurance Portability and Accountability Act (HIPAA) privacy and security compliance, subrogation and claims reimbursement issues, coordination of benefits, state and local compliance issues, wellness programs and consumer-driven healthcare initiatives and healthcare continuation coverage. She received her J.D., cum laude, from Stetson University College of Law and her B.A. from the University of Wisconsin, Madison.

Pressly has experience counseling clients on health and welfare plans and qualified retirement plans. He regularly advises clients on health and welfare plan compliance, including medical and dental plans, cafeteria plans, flexible spending accounts, wellness programs and retiree benefits. He counsels clients on plan design decisions relating to the Consolidated Omnibus Budget Reconciliation Act, HIPAA and healthcare reform legislation. Pressly has also assisted clients with qualified retirement plan design and administration questions, as well as submitting plans for voluntary correction. He received his J.D. from the University of Notre Dame Law School, his L.L.M. (Tax) from the University of Florida, and B.A., cum laude, from the University of Notre Dame.

 

Products April 17, 2012

SSgA launches Upromise 529 Plan

State Street Global Advisors (SSgA) launched SSgA Upromise 529 Plan.
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 The launch of SSgA Upromise 529 Plan also marks a new arrangement with the state of Nevada and Upromise Investments, Inc. 

The Plan is designed to lower costs and simplify investment choices. The SSgA Upromise 529 Plan features investment strategies that will be implemented using State Street’s SPDR exchange-traded funds (ETFs).

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“We’re excited to partner with Nevada and Upromise Investments, Inc. to offer SPDR ETF investments to American families looking to enhance their college savings strategies,” said James Ross, senior managing director and global head of SPDR Exchange-Traded Funds at State Street Global Advisors. “The SSgA Upromise 529 Plan combines the benefits of State Street’s institutional asset management with SPDR ETFs to offer advisers and investors innovative college savings solutions at significantly lower costs.”

Nevada’s direct-sold Upromise College Fund 529 Plan has been renamed the SSgA Upromise 529 Plan, and will continue to be direct-sold as well as available through fee-based registered investment  advisers. The plan includes new portfolio options managed by SSgA’s Investment Solutions Group, a team of investment professionals who develop customized solutions for specific needs. The group specializes in managing and advising investors on asset allocation, risk management, portfolio construction and plan implementation.  Upromise Investments, Inc. will remain as the program manager.

“Closing the college savings gap and securing a better future for the next generation requires a team effort,” said Nevada State Treasurer Kate Marshall.  “We’re excited to bring State Street’s sophisticated institutional investment management expertise and industry-leading SPDR ETFs to families saving for college through the SSgA Upromise 529 Plan.”

 

The SSgA Upromise 529 Plan’s investment solutions include: 

•  College date portfolios designed to make investing easy by selecting the year in which the beneficiary is expected to start college. The plan’s seven college date portfolios are tactically managed to make changes to each portfolio’s asset allocation, within an allowable range, in response to changing market conditions. Powered by multiple SPDR ETFs and an SSgA money market mutual fund, where applicable, each portfolio is managed to become more conservative as the expected college enrollment date nears.  

•  Risk-based portfolios are tailored to match an investors’ risk tolerance. The plan features three portfolios (conservative, moderate and aggressive) that employ a tactical asset allocation strategy designed to identify opportunities and manage risk. The funds underlying the risk-based portfolios include multiple SPDR ETFs and, where applicable, an SSgA money market mutual fund.  

•  Static portfolios (accessing individual SPDR ETFs) are for investors and fee-based advisers seeking the flexibility to build and maintain customized portfolios. Investors and advisers can choose from 15 SPDRETFs with precise, cost-effective access to an array of domestic and international asset classes.

•  Savings Portfolio includes a Federal Deposit Insurance Corporation (FDIC)-insured savings portfolio, which invests 100% of its assets in the Sallie Mae High-Yield Savings Account (HYSA).

For more information on the SSgA Upromise 529 Plan, visit www.ssga.upromise529.com.

 

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