Deals & People June 5, 2007

Independent RK Group Formed

A new organization, called the Council of Independent 401(k) Recordkeepers (CIKR), has formed to educate and advocate on issues of relevance to independent 401(k) plan recordkeepers.
Reported by
CIKR’s membership includes:
  • ADP Retirement Services
  • Alliance Benefit Group (ABG)
  • BPAH-Hand Benefits & Trust, Inc.
  • CPI Qualified Plan Consultants, Inc. (CPI)
  • DailyAccess Corporation
  • ExpertPlan Inc.
  • Ingham Group
  • Milliman, Inc.
  • National Investment Managers, Inc.
  • The Newport Group
  • RSM McGladrey Retirement Resources
  • Reliance Trust Company
  • The Retirement Plan Company, LLC
  • Sentinel Benefits Group, Inc
Membership in CIKR consists of independent 401(k) plan recordkeepers (and those companies that provide support to independent recordkeepers) that provide their services either directly to plan sponsors or through other retirement plan service providers.
“The CIKR organization will now give independent 401(k) plan recordkeepers a voice in ongoing policy discussions concerning the disclosure of fees and other recordkeeping issues relating to 401(k) plans,” said CIKR Chair Tommy Thomasson, President/CEO of DailyAccess Corporation. “Previous to CIKR, we did not have an organization to solely represent our interests in the 401(k) plan industry.”
CIKR will provide an opportunity for independent recordkeepers to participate in policy discussions on 401(k) plans. CIKR will work with regulators at the Department of Labor, Securities and Exchange Commission and with policymakers in Congress to ensure the viewpoints of independent 401(k) recordkeepers are considered.
CIKR is a sister organization of the American Society of Pension Professionals & Actuaries (ASPPA). ASPPA will be providing logistical and lobbying support to CIKR, according to a news release.

«