Sy Sternberg, CLU, retired chairman of the board and CEO of New York Life Insurance Company, and Fred Sievert, MSM, FSA, MAAA, the retired president of New York Life Insurance Company, each donated $500,000 to The American College for a gift totaling $1 million to establish the Sy Sternberg and Fred Sievert Doctoral Fellowship. 

The gift will support select fellows advancing through the New York Life Doctoral Program in Financial and Retirement Planning at The American College. 

The Fellowship is intended to attract individuals who are eager about the opportunity to conduct state-of-the-art research on financial issues related to retirement. The fellowship will enable select doctoral students to complete the program at no cost. 

The PhD program’s curriculum covers topics such as retirement income planning, estate planning, taxation, gerontology, and financial planning.  Available to financial services professionals who have the desire to learn the theory that informs practice, the demanding program takes approximately three years to complete and consists of 36 hours of advanced coursework in financial and retirement planning areas.  In addition, students must pass a comprehensive exam and successfully complete dissertation research of publishable quality.  Two one-week residency sessions are also required.

In other news:

Mary Ward

Security Mutual Life Insurance Company of New York promoted Mary C. Ward to the position of second vice president, Financial Operations.

Ward joined Security Mutual in 2008 as director, Financial Reporting, and was promoted to assistant vice president, Budget and Cost Accounting in 2012. In her new position, Ward will be responsible for the financial operations area of the Company.

 

Eric B. Goodman, retired chief investment officer of AEGON USA (now Transamerica), was elected to the Securian Financial Group board of directors at its February meeting.

Goodman joined Providian Corporation nearly 30 years ago. He was director of fixed income securities and derivatives when Providian was acquired by Transamerica, where he held several positions of increasing responsibility. Transamerica provides multiple financial products and services including life insurance, retirement plans and asset management services. Goodman retired as chief investment officer in 2011 and lives in Louisville, Ky.

Goodman has a bachelor’s degree and an MBA from Indiana University. He also is a Chartered Financial Analyst.

 

Mutual of Omaha Retirement Services named four new regional sales managers who consult with advisors to meet the 401(k) retirement needs of employers and their employees.

Thomas Engelhard will serve Wisconsin, Minnesota, North Dakota and Eastern Iowa. Prior to joining Mutual, Engelhard served as regional director for Pentegra and AUL and was a regional sales director with The Hartford for more than 22 years. He is a graduate of Miami University in Oxford, Ohio, and received his MBA from Loyola University in Chicago, and holds his AIF designation.

Kieran (K.C.) Behm will serve Northeastern/Eastern Pennsylvania (except Philadelphia) and Northern New Jersey. Prior to joining Mutual, Behm served as vice president of Qualified Retirement Plans at Univest. Prior to that, he was regional 401(k) sales director/wholesaler with Lincoln Financial Distributors, serving the Eastern Pennsylvania and Northern Delaware area.

Andy Dalka will serve Southern Texas, Louisiana and Mississippi. Dalka joined Mutual in 2011 as an internal wholesaler. Prior to that, he was a financial advisor in the banking industry and he is a graduate of Nebraska Wesleyan University.

Josh Burnett will serve Nebraska, Western Iowa and South Dakota. Burnett joined Mutual in 2008. Prior to assuming his current position, he served as national wholesaler for Mutual of Omaha Retirement Services, where he was responsible for managing open territories and supporting other regional sales managers. He has earned master’s and bachelor’s degrees from Bellevue University in Bellevue, Neb. and a Certified Retirement Plans Specialist designation from the College for Financial Planning.

Diane Kolvek’s role as a regional sales director for western territories has been expanded to leverage the company’s brand and relationships to develop 401(k) sales opportunities in the Omaha area. Kolvek also holds her QPFC designation.

Mutual of Omaha Retirement Services has four additional wholesaler opportunities it is looking to fill in Colorado, Florida, Northern Texas and Kansas/Missouri.

 

The Phoenix Companies, Inc. (NYSE:PNX) launched the Phoenix Personal Retirement Choice, a single premium fixed indexed annuity with an optional Guaranteed Lifetime Income Benefit rider. 

Phoenix Personal Retirement Choice is primarily an accumulation annuity that provides an upfront premium bonus that vests over time. The bonus is eligible to earn interest credits, thereby increasing growth potential. The premium bonus available ranges from 8 percent to 15 percent, which varies by state and depends on whether an income rider is elected. An optional Guaranteed Lifetime Income Benefit rider is available for an added fee. The amount of the Income Benefit is based on the premium plus premium bonus, the age of the contract owner and length of time until the rider is exercised. It grows each year the contract owner waits to begin the Income Benefit.

Retirement Choice is offered exclusively through a group of distribution partners working with Saybrus Partners, Phoenix’s distribution subsidiary.

 

American United Life Insurance Company(AUL), a OneAmerica company, introduced Defined Options, a new life and disability concept modeled after the leveled, prepackaged health care exchange options brought to market under the Patient Protection and Affordable Care Act. The tiered concept offered by AUL simplifies the benefit selection process for employees and offers more options and flexibility for employers. 

Defined Options combines lines of coverage for short- and long- term voluntary disability and term insurance into packages so employees only need to make one choice for group life and disability products.

Employers can offer up to three packages at bronze, silver and gold levels and choose up to four lines of voluntary coverage for each. They can also offer their customized Defined Options packages in addition to traditional employer-paid lines of coverage.