Hartford Financial Services Group Inc. has put an executive in charge of boosting retirement plan production.
Hartford, Simsbury, Conn., has named Jim Davey leader of a new retirements group.
Davey has been the company’s vice president for group retirement plans.
The new retirement plans group includes Hartford’s 401(k), 457 plan and 403(b) plan businesses.
Hartford notes that company 401(k) plan sales and deposits increased 31% in 2005, to $3.2 billion, and John Walters, head of Hartford’s investment products division, says the company wants to respond to the aging of the baby boomers and the growing uncertainty about Social Security and defined benefit pensions by becoming an even bigger player in the retirement savings market.