Deals and People December 13, 2011

Securian Financial Group Names New President

December 13, 2011 (PLANSPONSOR.com) - Securian Financial Group, Inc. appointed EVP, Christopher M. Hilger to president, effective January 1, 2012. 
Reported by

Hilger succeeds Randy F. Wallake, vice chairman and president, who is retiring June 30, 2012. Hilger will be the 16th president in Securian’s 131-year history.

As president, Hilger will report to Robert L. Senkler, Securian’s chairman and CEO. Hilger will have accountability for all of Securian’s insurance businesses and its Information Services technology division. Hilger also serves as CEO of Allied Solutions, LLC a Securian subsidiary headquartered in Indianapolis, Indianna, that distributes insurance products and services to financial institutions.

For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.

A 25-year veteran of the insurance industry, Hilger joined Securian in 2004 when the company purchased Allied Solutions. In 2007, he was named senior vice president of Securian’s Financial Institution Group and in 2010 was promoted to executive vice president with the added accountability for the company’s Group Insurance business. In the St. Paul community, Hilger serves on the board of Minnesota Philanthropy Partners.

Wallake, also an insurance industry veteran, joined Securian in 1987 as vice president of pension sales and subsequently assumed responsibility for the company’s retirement business. In 2001, he was promoted to executive vice president, adding responsibility for the company’s individual insurance business and, two years later, its broker-dealer and trust operations. As president and vice chairman, he directed all of the company’s insurance businesses. Active in the industry, Wallake currently serves on the American Council of Life Insurers Executive Roundtable and the boards of L.L. Global, Inc. and the American College. In the Twin Cities, he is a past chairman and a member of the board of North Central Blood Services, a unit of the American Red Cross.

Benefits December 13, 2011

Americans Say Social Security Retirement Age Will Jump to 80

December 13, 2011 (PLANSPONSOR.com) – Thirty-nine percent of Americans say by 2036 the Social Security retirement age will jump to 80. 
 
Reported by

According to a new survey commissioned by Engage America for its Social InSecurity Project, many Americans think Social Security will not exist in its current form when they retire. In fact, the Social Security Administration reports that by 2036 they will not have enough cash to pay promised benefits. Unless changes are enacted to Social Security, retired Americans as of 2036 will receive only 77% of the payouts promised.

The survey also revealed 63% of respondents do not believe that in 2036 Social Security “will remain fully funded and operate basically as it does today,” and 37% think Social Security “will cease to exist.”

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

The survey was conducted by CfK Roper Public Affairs, a division of GfK Custom Research North America, and was conducted from October 28-30, 2011. A total of 1,000 interviews were completed.

For more information, visit www.engageamerica.com.

«