Products March 30, 2010

National Financial Adds Tools to Help Manage Client Tasks

National Financial said it has made enhancements to its online service technology resources to help brokers and advisers better initiate and manage service requests.
Reported by

The new resources include streamlined account set-up and transfer of assets capabilities, e-notification of customer statements and trade confirmations, and enhancements to National Financial’s Service Center, the online platform for managing service requests.

National Financial, the broker/dealer arm of Fidelity Investments, said the enhancements to its Service Center are designed to automate various service requests, including prioritized time-sensitive updates, actionable response instructions and secure alerts via e-mail or mobile devices.

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The Markets March 30, 2010

GenCorp to Restart Match Contributions

GenCorp Inc. is reinstating the employer match feature for the 401(k) plan for non-union employees.
Reported by

The Sacramento Business Journal reported that starting with payroll in July, the company will contribute the reinstated match in cash rather than in stock. GenCorp estimates the cost of the match for the rest of this fiscal year to be about $5 million, according to the news report.     

In December 2008, GenCorp Inc. announced it was freezing its defined benefit pension plan and suspending 401(k) plan match contributions for non-union employees (see “GenCorp Suspends Company Stock 401(k) Match Contribution”).      

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The Sacramento Business Journal said historically, GenCorp made a 100% match in company stock up to the first 3% of its employees’ contributions, and then a 50% match for the next 3% of employee contributions.

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