Benefits May 23, 2006

ING Adds to Its DC Plan Review For Plan Sponsors

May 22, 2006 (PLANSPONSOR.com) - ING has enhanced the DC plan review product for its plan sponsor clients, which is meant to help clients make sure their plans are keeping pace with industry benchmarks.
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“In addition to reviewing the plan features, the responsibilities of the fiduciary and possible regulatory changes that may affect their plan, the new plan review will provide benchmarks to the plan sponsor so they can see how their plan statistics measure up against the industry averages, and their own goals for plan level participation, contribution rates and asset allocation, ” said Lou Bachetti, senior vice president and head of sales, ING Defined Contribution, in a release.

Bachetti added that the Dutch bank will help urge employees to participate in the plan by offering educational tools such as calculations for new options – a Roth option, for example.

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The enhanced plan review, which generally happens on an annual basis, covers:

  • The roles and responsibilities of the fiduciary;
  • Plan features, including matching contribution, vesting schedules, loan provisions and other considerations that impact participation and contribution rates.
  • Industry benchmarks;
  • Regulatory and legislative updates;
  • An investment review that includes ING’s Fund Evaluation Scorecard;
  • Spotlight on key topics relevant to the sponsor’s plan; and
  • An action plan

For more information about the plan review contact Caroline Campbell .

Benefits May 22, 2006

Report: Reprimanded Boston Health Exec Admits to More Sex Harassment

May 22, 2006 (PLANSPONSOR.com) - The president of a Boston-based health care provider has admitted to sexually harassing more women than in the four cases for which he was reprimanded last week.
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An attorney for the Boston Archdiocese told the Boston Globe that not only has Dr. Robert Haddad, the Caritas Christi Health Care system president, admitted to more instances of sexual harassment, but witnesses have also indicated there were more victims.

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David Mandel, an employment law specialist working for the archdiocese, told the Globe that the archdiocese has kicked off a further probe of Haddad following reports that he ”leered and winked” at one of the four victims on May 10, after the archdiocesan investigation was all but concluded.

If the inquiry finds that the reports were accurate, the Caritas board of governors that agreed to the ”stern reprimand” would have to consider possible further sanctions against Haddad, Mandel told the newspaper.

According to Mandel, the board was told Thursday that there were more than the four women involved before they endorsed Cardinal Sean O’Malley’s recommendation that Haddad be reprimanded and receive instruction in sexual harassment guidelines.

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