Employee Retirement Income Security Act of 1974

One Liberty Properties Reports Third Quarter 2023 Results

Retrieved on: 
Monday, November 6, 2023
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GREAT NECK, N.Y., Nov. 06, 2023 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced operating results for the quarter ended September 30, 2023.

Key Points: 
  • GREAT NECK, N.Y., Nov. 06, 2023 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced operating results for the quarter ended September 30, 2023.
  • Total operating expenses in the third quarter of 2023 were $14.3 million compared to $13.8 million for the third quarter of 2022.
  • Contributing to the change was a $340,000 increase in depreciation and amortization expense primarily related to properties acquired in 2022 and 2023.
  • Net income attributable to One Liberty in the third quarter of 2023 was $2.7 million, or $0.12 per diluted share, compared to $7.2 million, or $0.34 per diluted share, in the third quarter of 2022.

EverQuote Announces Third Quarter 2023 Financial Results

Retrieved on: 
Monday, November 6, 2023
Adjustment, P&C, Insurance, Sale, Risk, Security (finance), Social media, EverQuote, EBITDA, Fraud, GAAP, Acquisition, Growth, Phase 10, Machine learning, VMM, Depreciation, CFO, Total, Annual report, Atlas Shrugged: Part I, Failure, Employee Retirement Income Security Act of 1974, Video game, Cryptocurrency, Risk management, Bank, Bookkeeping

Third Quarter Variable Marketing Margin of $19.4 million, Representing 35% of Revenue

Key Points: 
  • Third Quarter Variable Marketing Margin of $19.4 million, Representing 35% of Revenue
    CAMBRIDGE, Mass., Nov. 06, 2023 (GLOBE NEWSWIRE) -- EverQuote, Inc. (Nasdaq: EVER), a leading online insurance marketplace, today announced financial results for the quarter ended September 30, 2023.
  • “We remain focused on streamlining our cost structure, maintaining financial flexibility, restoring a pattern of consistent cash generation, and driving towards profitability.”
    Third Quarter 2023 Financial Highlights:
    (Unless otherwise noted, all comparisons are relative to the third quarter of 2022.
  • EverQuote exited the health insurance vertical at the end of the second quarter of 2023.
  • EverQuote will host a conference call and live webcast to discuss its third quarter 2023 financial results at 4:30 p.m. Eastern Time today, November 6, 2023.

AmericanTCS Launches FiduciaryxChange to Support 401(k) Sponsors, Advisors and Administrators

Retrieved on: 
Thursday, November 2, 2023
Professional Services, Technology, Software, Finance, Asset Management, Fintech, Accounting, Employee Retirement Income Security Act of 1974, Personal fiduciary services, Trustee, TPA, ERISA, RIAS, Internal Revenue Code, Generally Accepted Recordkeeping Principles, Senior, Registered investment adviser, Third-party administrator, Risk, Retirement, PEPS, Financial adviser

AmericanTCS, a provider of industry-leading financial services to the American workforce, today announced a comprehensive suite of fiduciary services for 401(k) sponsors, advisors and administrators, offered under FiduciaryxChange.

Key Points: 
  • AmericanTCS, a provider of industry-leading financial services to the American workforce, today announced a comprehensive suite of fiduciary services for 401(k) sponsors, advisors and administrators, offered under FiduciaryxChange.
  • The solutions, offered through AmericanTCS Fiduciary Services, LLC, streamline fiduciary responsibilities and minimize the risk and administrative burden of adhering to the Internal Revenue Code, Employee Retirement Income Security Act (ERISA) regulations and the plan document.
  • Clients using the services of FiduciaryxChange are assigned a dedicated and experienced compliance manager.
  • When delivering FiduciaryxChange’s services – including PEPs, 402(a) Named Plan Fiduciary Services and Delegated Plan Administrator support – AmericanTCS maintains a specific Prudent Expert Standard of Care.

CFP Board Issues Statement on Support for Release of Proposed DOL Fiduciary Rule

Retrieved on: 
Tuesday, October 31, 2023
Employee Retirement Income Security Act of 1974, United States Department of Labor, Certified Financial Planner Board of Standards, U.S. Department of Labor, Office of Inspector General, DOL, U.S. Department of Commerce Office of Security, Egg, CFP, Retirement, ERISA, Financial adviser

WASHINGTON, Oct. 31, 2023 /PRNewswire/ -- The following is a statement from CFP Board commending the public release of the Department of Labor's (DOL's) proposed rule to protect Americans from conflicts of interest when financial professionals provide retirement investment advice:

Key Points: 
  • WASHINGTON, Oct. 31, 2023 /PRNewswire/ -- The following is a statement from CFP Board commending the public release of the Department of Labor's (DOL's) proposed rule to protect Americans from conflicts of interest when financial professionals provide retirement investment advice:
    "CFP Board welcomes the U.S. Department of Labor's proposed retirement security rule intended to protect Americans from the harmful effects of conflicts of interest when financial professionals provide retirement investment advice.
  • We celebrate the work of the advisors who seek to do what is best for their customers.
  • This proposed rule is an important step forward toward improving the retirement security of all Americans.
  • CFP Board will carefully review the details of the proposed rule and assess its effectiveness so that all financial professionals who provide retirement investment advice are required to put the best interests of their clients first.

Benefits and Compensation Lawyer Joe Urwitz Joins Crowell & Moring

Retrieved on: 
Wednesday, September 20, 2023
Insurance, Employee Retirement Income Security Act of 1974, Employment, University, Crowell & Moring, ERISA, David Urwitz, Chambers, University of Chicago Law School, Crowell, Retirement, Acquisition, Physician, Chambers and Partners, Fortune 500, Williams College, Cryptocurrency, Life insurance

WASHINGTON , Sept. 20, 2023 /PRNewswire/ -- Joe Urwitz joins Crowell & Moring as a partner in its Tax Group, bringing in-depth experience guiding clients on executive compensation and employee benefits issues in complex M&A, private equity, and capital markets transactions.

Key Points: 
  • WASHINGTON , Sept. 20, 2023 /PRNewswire/ -- Joe Urwitz joins Crowell & Moring as a partner in its Tax Group, bringing in-depth experience guiding clients on executive compensation and employee benefits issues in complex M&A, private equity, and capital markets transactions.
  • Urwitz represents a wide range of Fortune 50 companies in the private equity, technology, and health care industries.
  • Urwitz also represented one of the largest private equity firms in the world on its $3-billion acquisition of a cable channel.
  • He is recognized for his compensation and benefits work by Chambers USA and Legal 500 US.

Legal Opinion Letter Released by Business Climate Finance Affirms Companies' Ability to Consider ESG Factors in Employer-Sponsored Retirement Plan Selection Process

Retrieved on: 
Tuesday, August 29, 2023
Legal, Environment, Climate Change, Human Resources, Finance, Business, Professional Services, Sustainability, Environmental, Social and Governance (ESG), Investment policy statement, Letter, ERISA, JEDI, Opinion, DC, CFA Institute, Carbon, Employee Retirement Income Security Act of 1974, Retirement, Wagner Group, Biophysical environment, ESG, Policy, BCF, Financial adviser, Renewable energy, Social

In conjunction with Mercer and the CFA Institute, BCF published a comprehensive report on the carbon emissions associated with U.S.-sponsored retirement plans in 2022.

Key Points: 
  • In conjunction with Mercer and the CFA Institute, BCF published a comprehensive report on the carbon emissions associated with U.S.-sponsored retirement plans in 2022.
  • The Wagner Law Group ERISA Opinion Letter brings a sense of assurance to companies committed to aligning their financial activities with their sustainability goals.
  • Notably, the Opinion Letter provides affirmation of these companies' ability to consider climate-aligned investment funds, with a strong focus on ESG factors, as viable menu options for their DC retirement plans.
  • For more information, interviews and to access the complete ERISA Opinion Letter, please visit www.businessclimatefinance.org or contact Yejide Olutosin, Director of the Business Climate Finance Initiative at [email protected] .

Employers eyeing enhancements to nonqualified retirement plans, WTW survey finds

Retrieved on: 
Wednesday, August 16, 2023
WTW, DC, DB, Communication, IRS, Employee Retirement Income Security Act of 1974, Rabbi trust, Financial management, Retirement, Education, Health insurance, Pension fund

The vast majority of large U.S. employers currently offer nonqualified retirement plans to executives and high-income earners.

Key Points: 
  • The vast majority of large U.S. employers currently offer nonqualified retirement plans to executives and high-income earners.
  • Nonqualified plans are typically not subject to rules governed by the Employee Retirement Income Security Act.
  • The WTW Nonqualified Retirement Benefit Survey found over half of respondents (55%) either made changes to their nonqualified defined benefit (DB) retirement plans in the past two years or plan to make changes in the next two years.
  • Other key findings from the survey include:
    Sponsorship: More than half of respondents (56%) offer only a nonqualified DC retirement plan, while 35% sponsor both a nonqualified DC and DB plan.

One Liberty Properties Reports Second Quarter 2023 Results

Retrieved on: 
Thursday, August 3, 2023
Insurance, Maintenance, OLP, National Association of Real Estate Investment Trusts, Employee Retirement Income Security Act of 1974, Result, White paper, REIT, Financial condition report, GAAP, Securities and Exchange Commission of Pakistan, Sale, GREAT, FFO, Liberty, Havertys, Liberty Property Trust, One Liberty Plaza, Investment, Annual report, Real estate investment trust, An Act to exempt a particular class of securities from the Securities and Exchange Act, Analysis, Disability-adjusted life year, NAREIT, Depreciation, Growth, Security (finance), National Association, Renting, NYSE, Real estate, Pharmaceutical industry, Credit, Bank, Commercial property

GREAT NECK, N.Y., Aug. 03, 2023 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced operating results for the quarter ended June 30, 2023.

Key Points: 
  • GREAT NECK, N.Y., Aug. 03, 2023 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced operating results for the quarter ended June 30, 2023.
  • Total operating expenses in the second quarter of 2023 were $14.3 million compared to $13.5 million for the second quarter of 2022.
  • Net income attributable to One Liberty in the second quarter of 2023 was $6.5 million, or $0.30 per diluted share, compared to $16.8 million, or $0.79 per diluted share, in the second quarter of 2022.
  • Funds from Operations, or FFO1, was $9.6 million, or $0.45 per diluted share, for the second quarter of 2023, compared to $14.7 million, or $0.69 per diluted share, in the second quarter of 2022.

Voya Financial to serve as recordkeeper for first 403(b) Pooled Employer Plan

Retrieved on: 
Friday, July 28, 2023
Professional Services, Business, Human Resources, Finance, Consulting, Accounting, PEP, Employee Retirement Income Security Act of 1974, NFP, ERISA, Education, Voya Financial, Workplace, Secure, VOYA, Organization, Retirement, Battalion 3-16 (Honduras), PEPS, Health, SVP, Family, NYSE, Legislation, Health insurance, Financial adviser, Health care

Voya Financial, Inc. (NYSE: VOYA), a leading health, wealth and investment company, announced today that it will serve as the recordkeeper for the new Secure Retirement 403(b) Pooled Employer Plan (PEP).

Key Points: 
  • Voya Financial, Inc. (NYSE: VOYA), a leading health, wealth and investment company, announced today that it will serve as the recordkeeper for the new Secure Retirement 403(b) Pooled Employer Plan (PEP).
  • The launch of this new PEP was created in response to SECURE 2.0 and is designed to provide a pooled plan option specifically to 501(c)(3) nonprofit organizations and healthcare related entities, broadening retirement plan access for employees within these industries.
  • “We are thrilled to be part of the first 403(b) PEP in the market,” said Brodie Wood, SVP and national practice leader, Healthcare, Education and NFP markets, Voya Financial.
  • “We're delighted to be the first to market with the first 403(b) Pooled Employer Plan,” said Terrance Power, CEO, The Platinum 401k, Inc. “Voya has developed a great reputation as a leading recordkeeper in the pooled employer plan space, in a short period of time since PEPs were first introduced to the market.

RLI Reports Second Quarter 2023 Results

Retrieved on: 
Monday, July 24, 2023
Professional Services, Insurance, Finance, RLI, Employee Retirement Income Security Act of 1974, Policy, Tax, P&C, GAAP, Risk, Securities and Exchange Commission of Pakistan, Sale, Interest, Acquisition, Annual report, Form, Security (finance), EPS, CDT, News, Cryptocurrency, Bank

The investment portfolio’s total return was 1.1% for the quarter and 3.9% for the six months ended June 30, 2023.

Key Points: 
  • The investment portfolio’s total return was 1.1% for the quarter and 3.9% for the six months ended June 30, 2023.
  • RLI’s comprehensive earnings were $57.9 million for the quarter ($1.26 per share), compared to a comprehensive loss of $99.8 million ($2.20 per share) for the same quarter in 2022.
  • On June 20, 2023, the company paid a regular quarterly dividend of $0.27 per share, a $0.01 increase over the prior quarter.
  • At 10 a.m. central daylight time (CDT) tomorrow, July 25, 2023, RLI management will hold a conference call to discuss quarterly results with insurance industry analysts.