Deals and People October 14, 2010

Plan Sponsor Advisors, LLC Announces New National Practice Leader

October 14, 2010 (PLANSPONSOR.com) - Plan Sponsor Advisors, LLC (PSA) has announced the hire of Theresa “Tess” Malone as their new National Practice Leader.

 

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The Chicago-based investment and retirement plan consulting firm said that Malone is a nationally recognized retirement plan consultant with 25 years retirement plan consulting experience, most recently the Institutional Retirement & Investment Practice Leader for Blue Prairie Group, a Chicago-based consulting firm. 

Malone began her career on the vendor side of the business working at The Principal Financial Group. During that tenure, she led their in-house ERISA Consulting practice, which supported the diverse consulting needs of Principal’s 20,000+ retirement plan sponsors, according to the announcement.

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Malone has earned the Accredited Investment Fiduciary (AIF®) designation from the Center of Fiduciary Studies, Wharton School of Business and the PLANSPONSOR® Retirement Plan Professional (PRP) designation, which recognize excellence in retirement plan consulting. 

“As National Practice Leader, Tess will be responsible for bringing market leading solutions to our clients that help them mitigate risk and improve the effectiveness of their retirement plans,” said Donald Stone, president of Plan Sponsor Advisors.  “Tess is an industry thought leader and we are excited to have her as a senior member of our team,” he added.

Co-founded by Stone and Jennifer Flodin, Plan Sponsor Advisors (PSA) is an independent, investment and retirement plan consulting firm with offices in Boston, Chicago, Des Moines, and Charlotte. The firm has advised plans with over $55 billion of retirement assets since 2002.  Its clients include public and privately held companies of all sizes ranging from family held companies to global corporations, major universities, healthcare systems and hospitals. 

Compliance October 14, 2010

Court Green Lights FL HCR Challenge

October 14, 2010 (PLANSPONSOR.com) – A federal judge ruled Thursday that parts of a legal challenge to the health-care reform law by 20 states can move forward.
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The Associated Press reported that U.S. District Judge Roger Vinson of the U.S. District Court for the Northern District of Florida ruled it still needs to be decided whether the plan violates the Constitution by requiring individuals to have health insurance or be penalized, and by overburdening the states by expanding their Medicaid programs.

Vinson set a hearing for December 16, according to the news report.

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Vinson’s ruling comes a week after U.S. District Judge George Caram Steeh in Detroit said the mandate to get insurance by 2014 and the financial penalty for skipping coverage are legal (see Judge Declares HCR Law Constitutional). There is also a lawsuit pending in Virginia. A federal judge there has allowed the lawsuit to continue, ruling the overhaul raises complex constitutional issues.

The other states involved in the lawsuit Vinson is hearing are Alabama, Alaska, Arizona, Colorado, Georgia, Indiana, Idaho, Louisiana, Michigan, Mississippi, Nebraska, Nevada, North Dakota, Pennsylvania, South Carolina, South Dakota, Texas, Utah, and Washington.

Vinson’s order in the Florida case is here.

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