Compliance February 25, 2013

IRS Offers FAQs About RMDs

The Internal Revenue Service (IRS) has posted frequently asked questions (FAQs) and answers regarding required minimum distributions (RMDs).
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The questions cover the types of plans that require RMDs and how calculations are made, as well as who is responsible for making the calculations, how the RMD is taxed and whether plan sponsors should continue making contributions for participants receiving RMDs. In addition, the FAQs address different rules that may apply to 403(b) plans.  

The FAQs are here.

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Deals & People February 25, 2013

BNY Mellon Names Global Risk Group Leader

Debra Baker will lead BNY Mellon’s renamed Global Risk Solutions group, which brings together the functions of its current Performance & Risk Analytics business.
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Global Risk Solutions provides investment analysis products and services, integrated with BNY Mellon’s core custody and accounting platforms. Clients such as pension funds, foundations and endowments, and other large financial institutions turn to the group for risk analysis, performance measurement, compliance monitoring, and peer group comparisons and attribution tools for their investment strategies.  

Baker re-joins Asset Servicing after leading the U.S. financial institutions client segment within BNY Mellon’s Corporate Trust business, for which she had earlier overseen the collateralized debt obligations unit and served as chief administrative officer. Prior to that, Baker held positions in Asset Servicing, focused on investment risk services, heading its global product management and global risk services groups.  

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“With a rise in alternative investment strategies, industry shocks and new regulatory requirements, it’s crucial for decisionmakers to be able to quickly analyze and assess their total investment risk,” said Vince Sands, executive vice president and deputy CEO of BNY Mellon’s Asset Servicing business. “Our new Global Risk Solutions group under Debra’s leadership is built specifically to do just that.”

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