Deals & People July 24, 2015

Retirement Industry People Moves

Joseph Gill joins Rothschild’s Asset Management Institutional Sales team; Diana Jordan comes to Unified Trust Company; Julie Niccum rejoins Ascensus.
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Joseph P. Gill has joined Rothschild Asset Management as managing director of institutional sales. In this position, Gill will play a key role within the firm’s institutional sales team in New York.

Gill, who has more than 20 years of institutional sales and relationship management experience, was previously at Pentegra Retirement Services, where he was a partner and managing director of business development. In 2012, he co-founded and served as a managing partner for Thane Capital. Previously, he held roles in relationship management and business development for investment management organizations including BlackRock, Blackstone, JP Morgan, and the Bank of Tokyo-Mitsubishi. 

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Gill holds a bachelor’s degree in economics from Saint Joseph’s University. He will report to Michael Woods, chief executive officer of Rothschild Asset Management Inc. His appointment became effective July 20.

Rothschild Asset Management Inc. is the U.S. asset management business of the Rothschild Group.

NEXT: Diana Jordan joins Unified Trust Company.

Diana Jordan has been named director of client consulting, a newly created position, at Unified Trust Company.

Jordan, who has 15 years of industry experience, was previously at Sikich LLP, where she was partner in charge of wealth management and retirement plan services. Earlier in her career, as an adviser, she worked with Unified Trust, which she cites for its dedication in helping people achieve successful retirement outcomes.

In her new role, Jordan will develop and lead the execution of strategic business initiatives— client satisfaction, retention and growth—in the retirement plan space. Through the client consulting group, she will work closely with independent retirement plan advisers who have plans with Unified Trust to help them further enhance the services they provide to plan sponsors, and act as a resource to assist in servicing plans.

Jordan holds a bachelor’s degree in accounting from the University of Illinois and is a former staff sergeant with the Air National Guard. 

Unified Trust Company is a nationally chartered trust company specializing in wealth management and retirement planning

NEXT: Julie Niccum rejoins Ascensus.

Julie Niccum rejoins Ascensus as senior vice president of service delivery to oversee the firm’s employer services and solutions department. She will work with leadership across various departments to support the company’s focus on exceptional service.

Niccum rejoins Ascensus from CenturyLink, where she was director of pension and savings plans. In this role, she was responsible for oversight of all corporate plans, including the $12.8 billion pension plan and the $5.6 billion 401(k) plan.

Niccum was a tenured member of the Ascensus leadership team for more than a decade, serving as vice president and vice president of operations .

Ascensus is an independent retirement and college savings services provider.

Data & Research July 24, 2015

Two in Three Private Workers Offered Retirement Plan

The Bureau of Labor Statistics released its March National Compensation Survey findings.
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Fully two-thirds (66%) of private industry workers were offered a retirement savings plan in March, the Bureau of Labor Statistics found in its National Compensation Survey. Among workers in the lowest wage category, the 10th percentile, only 31% had access to a retirement plan. By contrast, among those in the highest wage category, the 90th percentile, 88% had access to a retirement plan.

In state and local government, 99% of full-time workers had access to retirement and medical care benefits, and 98% were offered paid sick leave. For part-time workers in state and local government, 39% had access to retirement benefits, 24% to medical benefits and 42% to paid sick leave. Among state and local government workers in the lowest wage category, 61% had access to retirement benefits, versus 98% of workers in the highest wage category.

As to what percentage of medical coverage premiums employers required their workers to pay, among private industry nonunion companies, the single coverage requirement was 23%, and the family coverage requirement was 35%. For union shops, the single coverage requirement was 13% and for family coverage, it was 16%.

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Paid holidays were offered to 90% of full-time and 37% of part-time workers in private industries. In state and local government, 74% of full-time and 30% of part-time workers had such access.

Access to benefits differed widely among occupational groups, the Bureau of Labor Statistics said. Eighty-seven percent of workers in management and professional jobs in private industries had access to medical care, compared to 41% of those in service occupations. In state and local government, the figures were 89% and 82%, respectively.

Among companies with fewer than 50 employees, 53% of civilian workers were offered medical coverage, but for workers at companies employing 500 workers or more, that jumped to 90%.

The Bureau of Labor Statistics said its benefits survey represented 131 million civilian workers. Of this number, 112 million were private industry workers and 19 million were state and local government workers.

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