Michigan Office of Retirement Services

Workplace Open Enrollment Period is Missed Opportunity to Bolster Retirement Plans

Retrieved on:

Thursday, November 9, 2023

Ensure you’re enrolled in your employer-sponsored retirement plan, if eligible — 32% of respondents said they will be enrolling in their company’s defined contribution plan, with 35% already enrolled.

Key Points:

Ensure you’re enrolled in your employer-sponsored retirement plan, if eligible — 32% of respondents said they will be enrolling in their company’s defined contribution plan, with 35% already enrolled.
Generationally, millennials were most likely to say their outlook has improved with more than half (51%) feeling good about retirement.
Among those who do not intend to review or make any changes to their employer-sponsored retirement plan during the workplace open enrollment period, the most cited reason is that they haven’t thought about it (27%).
This represents an opportunity for employers and financial professionals to consistently educate and engage employees and clients on workplace retirement benefits.

Apollo Reports Third Quarter 2023 Results

Retrieved on:

Wednesday, November 1, 2023

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NEW YORK, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today reported results for the third quarter ended September 30, 2023.

Key Points:

NEW YORK, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today reported results for the third quarter ended September 30, 2023.
Apollo Global Management, Inc. has declared a cash dividend of $0.43 per share of its Common Stock for the third quarter ended September 30, 2023.
This dividend will be paid on November 30, 2023 to holders of record at the close of business on November 17, 2023.
During the webcast, members of Apollo’s senior management team will review Apollo’s financial results for the third quarter ended September 30, 2023.

Creative Planning Strengthens Retirement Services with Acquisition of Mesirow's Corporate Retirement Advisory Services Team

Retrieved on:

Tuesday, October 31, 2023

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OVERLAND PARK, Kan., Oct. 31, 2023 /PRNewswire/ -- Creative Planning, one of the nation's leading Registered Investment Advisors (RIA), announced its acquisition of Mesirow's corporate retirement advisory services team.

Key Points:

OVERLAND PARK, Kan., Oct. 31, 2023 /PRNewswire/ -- Creative Planning, one of the nation's leading Registered Investment Advisors (RIA), announced its acquisition of Mesirow's corporate retirement advisory services team.
"We are excited to welcome Mesirow's impressive corporate retirement advisory services team into the Creative Planning family," said Peter Mallouk, CEO of Creative Planning.
The Creative Planning Retirement Services Practice provides services to over $137 billion in assets under advisement.
Carly Bell, Head of Retirement Services at Creative Planning, led the acquisition stating, "The acquisition of Mesirow's corporate retirement team is additive to our existing Retirement Services offering as it brings together industry thought leaders that will continue to expand the comprehensive services available from Creative Planning to plan sponsors and participants."

Upcoming Student Loan Repayments Likely to Test Many Retirement Dreams

Retrieved on:

Tuesday, September 26, 2023

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“Many Americans are likely to feel increased pressure on their personal budgets once student loan payments resume,” said Terri Fiedler , President of Retirement Services at Corebridge Financial.

Key Points:

“Many Americans are likely to feel increased pressure on their personal budgets once student loan payments resume,” said Terri Fiedler , President of Retirement Services at Corebridge Financial.
“Even with the new financial stress, borrowers can still take action to save for retirement and a financial professional can help.
Women (5%) were also three times less likely compared to men (16%) to have put their disposable income from paused payments toward retirement, only compounding the situation.
Results from the full survey have a margin of error of +/- 2 percentage points and were weighted to approximate Americans ages 18+ with student loan debt.

BofA Survey Finds Many American Workers Optimistic About Their Financial Future, Though Feeling the Strain of Inflation

Retrieved on:

Tuesday, September 26, 2023

CHARLOTTE, N.C., Sept. 26, 2023 /PRNewswire/ -- Bank of America today announced findings from its 13th annual Workplace Benefits Report, "The Transforming Workplace" (PDF) The report revealed that two-thirds (67%) of employees believe the cost of living is outpacing growth in their salary or wages, compared to 58% in February 2022. Over the last year, the impact of inflation and economic uncertainty has contributed to increased financial stress and to financial wellness among employees dropping to 42%, the lowest rate since this research began in 2010. Despite which, more than half (56%) of employees remain cautiously optimistic about their financial well-being over the next 2 to 3 years.

Key Points:

Despite which, more than half (56%) of employees remain cautiously optimistic about their financial well-being over the next 2 to 3 years.
First launched in 2011, the annual Workplace Benefits Report examines trends related to workplace financial benefits and wellness programs.
Bank of America is a marketing name for the Retirement Services business of Bank of America Corporation ("BofA Corp.").
Banking activities may be performed by wholly owned banking affiliates of BofA Corp., including Bank of America, N.A., Member FDIC.

McLean & Company Responds to Changes in the HR Landscape With New HR Management and Governance Framework and Diagnostic Tools

Retrieved on:

Wednesday, September 13, 2023

These updated diagnostics include the HR Management & Governance (HRMG) Diagnostic and the HR Organizational Alignment (HROA) Diagnostic survey tools.

Key Points:

These updated diagnostics include the HR Management & Governance (HRMG) Diagnostic and the HR Organizational Alignment (HROA) Diagnostic survey tools.
McLean and Company's HR Management and Governance Framework establishes a research-informed, holistic model of HR.
To take advantage of the full resource bundle, HR professionals can access the updated HR Management & Governance (HRMG) Framework , the HR Management & Governance (HRMG) Diagnostic survey tool , and the HR Organizational Alignment (HROA) Diagnostic survey tool .
McLean & Company is also pleased to offer the HR Management & Governance (HRMG) Diagnostic Guide and the HR Organizational Alignment (HROA) Diagnostic Guide to support the understanding and application of the diagnostic survey tools.

Oyster Consulting Hires John Ivan, Former Raymond James, Merrill Lynch Compliance Exec

Retrieved on:

Thursday, August 17, 2023

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RICHMOND, Va., Aug. 17, 2023 (GLOBE NEWSWIRE) -- Oyster Consulting , a financial services consulting firm providing consulting, outsourcing and software services, announced today that John Ivan has joined the firm’s Governance, Risk and Compliance team.

Key Points:

RICHMOND, Va., Aug. 17, 2023 (GLOBE NEWSWIRE) -- Oyster Consulting , a financial services consulting firm providing consulting, outsourcing and software services, announced today that John Ivan has joined the firm’s Governance, Risk and Compliance team.
Ivan’s experience in restructuring and enhancing Compliance departments to align with strategic business changes and regulatory responses adds strategic depth to Oyster Consulting’s expert resources.
Prior to that, he was Managing Director at Bank of America Merrill Lynch, heading Compliance for its Global Wealth and Retirement Services products and services business.
“I’m very excited to join Oyster Consulting,” said Ivan, “and the talented professionals who are dedicated to their clients’ regulatory compliance.

Newfront Expands Esteemed Retirement Services Team with High Profile Hires

Retrieved on:

Thursday, August 10, 2023

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SAN FRANCISCO, Aug. 10, 2023 /PRNewswire/ -- Newfront, the tech-driven insurance brokerage firm based in San Francisco, is announcing the expansion of its award-winning Retirement Services group with two high profile hires. Miki Sakata joins Newfront as Retirement Plan Consultant and Zach Nelson joins as Account Executive.

Key Points:

Zach Nelson and Miki Sakata join from Fidelity and Three Bell, respectively
SAN FRANCISCO, Aug. 10, 2023 /PRNewswire/ -- Newfront , the tech-driven insurance brokerage firm based in San Francisco, is announcing the expansion of its award-winning Retirement Services group with two high profile hires.
Miki Sakata joins Newfront as Retirement Plan Consultant and Zach Nelson joins as Account Executive.
"Both Zach and Miki bring stellar reputations and years of experience to our accomplished, data-driven team," said Greg Kaplan.
"Newfront Retirement Services is well-known within the industry for its comprehensive and innovative consulting approach," Sakata said.

Apollo Upsizes and Prices Offering of Mandatory Convertible Preferred Stock

Retrieved on:

Wednesday, August 9, 2023

NEW YORK, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (the “Issuer,” and together with its consolidated subsidiaries, “Apollo”) today announced that it has priced an offering of $1,250.0 million (25,000,000 shares) of its 6.75% Series A Mandatory Convertible Preferred Stock, par value $0.00001 per share (the “Mandatory Convertible Preferred Stock”) at a price to the public and liquidation preference of $50.00 per share.

Key Points:

NEW YORK, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (the “Issuer,” and together with its consolidated subsidiaries, “Apollo”) today announced that it has priced an offering of $1,250.0 million (25,000,000 shares) of its 6.75% Series A Mandatory Convertible Preferred Stock, par value $0.00001 per share (the “Mandatory Convertible Preferred Stock”) at a price to the public and liquidation preference of $50.00 per share.
The underwriters have a 30-day option to purchase up to an additional $187.5 million (3,750,000 shares) of Mandatory Convertible Preferred Stock solely to cover over-allotments, if any.
The net proceeds from the Mandatory Convertible Preferred Stock offering will be approximately $1,219 million (or approximately $1,402 million if the underwriters exercise their option to purchase additional shares in full), after deducting underwriting discounts but before offering expenses.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Mandatory Convertible Preferred Stock or any other securities, and shall not constitute an offer, solicitation or sale of the Mandatory Convertible Preferred Stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

Apollo to Offer Series A Mandatory Convertible Preferred Stock

Retrieved on:

Monday, August 7, 2023

Attention, Varick Street, APO, Telephone, Michigan Office of Retirement Services, Goldman Sachs, Securities and Exchange Commission (Nigeria), Sale, Apollo, Prospectus, Offering, Wells Fargo, 2nd Floor, NYSE, Convertible, Apollo Global Management, Security (finance)

NEW YORK, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (the “Issuer,” and together with its consolidated subsidiaries, “Apollo”) today announced that it has commenced an offering of $1,000.0 million (20,000,000 shares) of its Series A Mandatory Convertible Preferred Stock, par value $0.00001 per share (the “Mandatory Convertible Preferred Stock”), subject to market and other conditions (the “Offering”).

Key Points:

NEW YORK, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (the “Issuer,” and together with its consolidated subsidiaries, “Apollo”) today announced that it has commenced an offering of $1,000.0 million (20,000,000 shares) of its Series A Mandatory Convertible Preferred Stock, par value $0.00001 per share (the “Mandatory Convertible Preferred Stock”), subject to market and other conditions (the “Offering”).
Apollo expects to grant the underwriters a 30-day option to purchase up to an additional $150.0 million (3,000,000 shares) of Mandatory Convertible Preferred Stock to cover over-allotments, if any.
Each share of Mandatory Convertible Preferred Stock will have a liquidation preference of $50.00 per share.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Mandatory Convertible Preferred Stock or any other securities, and shall not constitute an offer, solicitation or sale of the Mandatory Convertible Preferred Stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.