Orland Park, Ill., seeks bundled provider for 457, 401(a) plans
Print
Orland Park, Ill., is searching for a bundled provider for its $17 million 457 plan and $2 million 401(a) plan.
The village launched a search because it wants to consolidate the assets of four record keepers to a single provider that will offer bundled administrative and record-keeping services, according to an RFP posted on BidNet Direct, a procurement website.
The current record keepers are AXA Retirement Services, Empower Retirement, ICMA-RC and Nationwide Financial. The RFP did not disclose whether the current record keepers are eligible to rebid.
The RFP is available on BidNet Direct. Registration is required. Proposals are due at 11 a.m. CDT on June 10. A timeline for a selection was not provided.
A broker-dealer of Empower Retirement must pay $1.5 million to the U.S. Securities and Exchange Commission for failing to file hundreds of suspicious-activity reports despite knowing that bad actors were hacking, or attempting to hack, customer accounts, the agency announced Wednesday.
Empower unit settles SEC charges over suspicious activity reporting
Bloomberg
GWFS Equities Inc., a broker-dealer subsidiary of Empower Retirement, agreed to pay $1.5 million to settle Securities and Exchange Commission charges that it failed to properly report detected cases of hackers gaining, or attempting to gain, access to participant retirement accounts.
Greenwood Village, Colo.-based GWFS did not admit to or deny the SEC s findings in agreeing to the settlement, the SEC said Wednesday.
From 2015-2018, GWFS was aware of increasing attempts by external hackers to gain access to the retirement accounts of individual plan participants, according to the SEC order. Moreover, GWFS knew that the hackers attempted or gained access by, among other things, using improperly obtained personal identifying information of the plan participants, and that the hackers frequently were in possession of electronic login information such as usernames, email addresses and passwords, the SEC said.
Empower unit settles SEC cybersecurity charges pionline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pionline.com Daily Mail and Mail on Sunday newspapers.
2 Min Read
Published on: 2 days ago
More than 300 human resources (HR) professionals across the North American Division (NAD) of the Seventh-day Adventist Church attended a three-day HR virtual conference on April 25-27, 2021. The event, themed “RefocUS,” centered on training workshops, policy update sessions, panel discussions, and daily devotionals. To accommodate as many people as possible in the NAD, daily schedules started at 5:00 p.m. EDT on the Zoom meeting platform.
“RefocUS is about learning who we are, why we engage, what motivates, and how we as HR professionals mentor and serve,” Orna Garnett, NAD Human Resource Services (HRS) director, said. “Mentorship is an important building block in the NAD’s strategic focus, and faith-based human resource practitioners are in a unique position to facilitate both formal and informal mentorship programs within their respective organizations.”