Following the recent departure of Sandy McCarthy as president of
Institutional Plan Services, ING said it has further streamlined its
Retirement Services structure, while ensuring the institutional
businesses remain focused under their current leadership model.
Transamerica Retirement Services announced a new service, Plan Administration Service Support (PASS), which gives plan sponsors the opportunity to delegate day-to-day plan administration responsibilities to Transamerica.
Despite the increased focus on the need to capture Baby Boomers’ assets post-retirement, defined contribution plan service providers are largely unsuccessful at retaining participant assets after retirement, according to research from the Diversified Services Group (DSG).