PCS Retirement welcomes two new executives
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PHILADELPHIA, May 5, 2021 /PRNewswire/ PCS Retirement is pleased to announce two new executives joining the leadership team: Bob Savino who will serve as the chief product and technology officer and Michael Coluzzi as the chief financial officer. Both will play an integral role in the organization s continued growth as one of the nation s largest independent and conflict-free recordkeepers in the industry. Our recent acquisitions have really propelled us forward, and we are looking forward to the possibilities now with Michael and Bob on our team to encourage business growth, said Mark Klein, PCS Retirement s chief executive officer. They have both already begun to make an impact to the organization, so I am excited for our future.
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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Consulting firm October Three says lawyers will likely set their sights on MEPs.
Multiple employer pension (MEP) plan sponsors should brace themselves as a potential target for litigation as the plans continue to emerge as a provider-based alternative to single-employer 401(k) plans, according to consulting firm October Three.
In a recent article, the firm said that as MEPs begin to accumulate participants and assets, it is “inevitable that plaintiffs’ lawyers will train their sights on MEPs as a fiduciary litigation target” with the “the same sort of fiduciary litigation that has afflicted the single-employer 401(k) plan community.”
The firm said the flood of defined contribution (DC) litigation over the past 15 years has focused on a relatively narrow set of issues: 401(k) plan fees, including investment management fees, recordkeeping fees, and revenue sharing, as well as fund performance, particularly related to actively managed funds and target-date funds (TDFs).
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Join one of the fastest growing areas of our retirement business! The Retirement Service Center (also called Actuarial Service Center – ASC) is a growing group of colleagues within the North American Retirement Line of Business who focus on operational excellence and systems expertise. As integrated members of client teams in a variety of offices, they provide high quality and efficient work for Defined Benefit, Defined Contribution and post retirement plans served by the Retirement teams. Work performed by ASC colleagues includes annual actuarial funding and accounting valuations, corporate reporting and disclosure government forms and a wide range of special projects.