Administration May 1, 2009

NY RIA Joins with Money Manager

May 1, 2009 (PLANSPONSOR.com) - Registered investment adviser Beck, Mack & Oliver LLC, a New York-based, firm, has acquired New York-based Austin Investment Management, Inc.
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A news release said the newly combined entity manages more than $3.1 billion, including high net worth investors, endowments, foundations and employee pension plans.

Beck, Mack & Oliver has specialized in managing customized core U .S . equity portfolios, according to the announcement. Austin Investment Management manages separate accounts as well as a global equity mutual fund.

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Terms of the transaction, effective April 10, 2009, were not disclosed.

Products April 30, 2009

Principal Aims to Pump up Enrollment with New Workbook

April 30, 2009 (PLANSPONSOR.com) - Principal Financial Group has released a new enrollment workbook.
Reported by

A Principal news release said the workbook uses a three-step process that begins with deciding how much to save, followed by choosing an investment style described as “do-it-for-me” or “do-it-myself.” The final step is filling out an enrollment form.

Additionally, The Principal customizes the enrollment workbook to include retirement plan features selected by the plan sponsor, which may include:

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  • Automatic enrollment
  • Employer match
  • My Principal Edge Milestones
  • Catch-up contributions
  • Online enrollment

“Our research showed us that this simple three-step style resonated with employees, improving their experience and prompting them to take action,” said Barrie Christman, vice president of Individual Investor Services for The Principal, in the news release. “We want to make it as easy as possible for employees to start saving and stay invested in order to help secure their financial futures.”

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