Benefits industry newsmakers: Actuarial Risk Management, BakerHostetler, Lockton Pacific, Nationwide

As January 2021 comes to an end, the employee benefits and retirement industry is seeing a deluge of announcements. Here are a few:

Unum has a new benefit for its employees: paid caregiver leave. The company will provide five consecutive business days of paid leave for eligible U.S. employees who need time away from work to care for a spouse, child, or parent due to a serious health condition.

Randstad US announced a new program called TRANSCEND, which offers skills training at no cost to help diverse populations gain skills for today’s jobs. Randstad has partnered with the National Urban League to help identify, screen and train program participants. Keith Brown will be the Community Impact Director for the TRANSCEND program.

Nationwide and Walmart are partnering to help pet owners fill pet prescription medications at Walmart pharmacies. Nationwide Pet Rx Express gives Nationwide’s pet insurance members access to preferred pricing for pet prescription medicines and in-store claims filing.

Massachusetts Mutual Life Insurance Company announced an agreement with American Financial Group to purchase Great American Life Insurance Company, and other subsidiaries and affiliated entities. The purchase price is $3.5 billion. Great American Life will operate as an independent subsidiary of MassMutual, led by its current president, Mark Muething, and its 600-plus employees will remain headquartered in Cincinnati.

Lockton Pacific announced Lorrinda Lattimore has joined as Vice President, Voluntary Benefits. Lattimore previously served as Vice President, Broker and Consultant Relations for Allstate Identity Protection (formerly InfoArmor). She has also held roles at AON, AIG, and Benefit Harbor.

Integrity Marketing Group, an independent distributor of life and health insurance products, announced it has acquired CSG Actuarial quoting technology platform and data solution. As part of the acquisition, CSG Principals Bryan Neary and Doug Feekin will become managing partners in Integrity.

Groom Law Group announced the addition of five new attorneys as well as the promotion of three attorneys to of counsel:

• Joanne Jacobson joins the firm as of counsel and has extensive experience advising organizations on a broad range of employee benefits and executive compensation issues.
• Victoria Allen is an associate practicing in the firm’s plan sponsor group.
• David Block is an associate with experience advising clients on federal tax and ERISA matters.
• Rachael Hancock is an associate practicing in the firm’s litigation group.
• Matthew Lanahan is an associate with experience advising health insurers and large plan sponsors.
• Mark Carolan is a member of Groom’s plan sponsor group and counsels clients on plan funding issues, de-risking and terminations and on other PBGC matters.
• Sam Levin is a member of the firm’s litigation group. He is a subject matter expert in both 401(k) fee cases and withdrawal liability disputes.
• Emily Lucco is a member of both the firm’s plan sponsor and health services groups. She counsels plan sponsors, insurers and third parties on a variety of issues including health plan documents, ERISA, and the Affordable Care Act.

Defined Contribution Alternatives Association (DCALTA) announced the appointment of four finance and investment professionals from its Board of Directors to a new Executive Committee that will guide DCALTA`s strategic direction:

• Serge Boccassini, Head of Global Product Management at Northern Trust, will serve as Chairman.
• Alain Michnick, Head of Defined Contribution Sales at FTSE Russell, will serve as Vice Chairman.
• Kathy Wanner, Founding Partner at Fairway Capital, will serve as Treasurer.
• Michelle Rappa, Managing Director at Neuberger Berman, will serve as Secretary.

CareFirst BlueCross BlueShield announced it will invest over $10.5 million to improve health outcomes for individuals, families, and communities who have a diagnosis or are at higher risk of developing diabetes in the Mid-Atlantic region.

CAPTRUST Financial Advisors announced that PWA Wealth Management has joined the firm. It’s led by Founder and CEO Joe Scarpo and brings 15 employees, including seven financial advisors, to CAPTRUST. PWA Wealth Management will transition to the CAPTRUST name and branding.

BakerHostetler partner Jeewon Serrato has contributed a NIST Privacy Framework’s CCPA Crosswalk and is featured in an animated video by NIST which shows how organizations can use the NIST Privacy Framework to help meet compliance obligations. NIST also has a new 2-page Privacy Framework implementation guide for small and medium businesses.

Actuarial Risk Management announced the addition of Marc Altschull as a senior consulting actuary. In this newly created position, Altschull will lead an initiative offering insurance asset management solutions, as well as enhance the marketing capabilities of the firm’s actuarial services.

READ MORE:

• Benefits industry newsmakers: Buck, MedEncentive, CareFirst, MedStar Health, Cigna, Evernorth, Definiti, andros, CloudPay
• Benefits industry newsmakers: ARA, CFP Board, DPL Financial Partners, Employee Navigator
• Benefits & retirement newsmakers: ARA, Cigna, HUB, Lockton Dunning Benefits, Mercer Global Advisors, Sun Life Financial