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Pooled Plan Provider NPPG Announces SEC Registration as an Investment Adviser

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NPPG Plan Professionals, LLC (NPPG), an industry-leading Pooled Plan Provider in the pooled employer plan space announced it has successfully met the required prerequisites and has registered as an investment adviser with the Securities and Exchange Commission (SEC). NPPG currently serves as PPP for 20 Pooled Employer Plans (PEPs) that collectively hold billions of dollars in plan assets. NPPG considers such SEC registration to be both required and the most prudent way to protect client interests when a PPP’s role and responsibilities encompass both administrative and investment fiduciary activities of the plan.

SHREWSBURY, N.J., July 11, 2024 /PRNewswire-PRWeb/ — NPPG Plan Professionals, LLC (NPPG), an industry-leading Pooled Plan Provider in the pooled employer plan space announced it has successfully met the required prerequisites and has registered as an investment adviser with the Securities and Exchange Commission (SEC). NPPG currently serves as PPP for 20 Pooled Employer Plans (PEPs) that collectively hold billions of dollars in plan assets. NPPG considers such SEC registration to be both required and the most prudent way to protect client interests when a PPP’s role and responsibilities encompass both administrative and investment fiduciary activities of the plan.

Given the obvious motivation by adopting employers to reduce risk, we believe it is in every client’s best interest to avoid uncertainty around this requirement.

Since 2020, approximately 70 entities have registered with the Department of Labor as Pooled Plan Providers, of which about 40 offer some combination of investment management, investment advice, and investment products.1 It is understood that PPPs performing investment fiduciary services have a duty to confirm their compliance with either state or SEC regulations.2 Adopting employers can look up the registration status of their PPP using the SEC’s Investment Adviser search or by using FINRA’s Broker Check.

“We believe it is incumbent upon any PPP who delivers a comprehensive investment and plan administrator fiduciary solution to be an SEC registered investment adviser,” said Michael M. Salerno Founder and CEO of NPPG. He added, “In our view and that of our attorneys, it is requisite to the role we play and, frankly, makes sense from a fiduciary perspective to protect adopters and their participants.”

Salerno continued, “We recognize many PEP providers and employers may not have contemplated this requirement yet. Given the obvious motivation by adopting employers to reduce risk, we believe it is in every client’s best interest to avoid uncertainty around this requirement.”

Since 2021, the Setting Every Community Up for Retirement Enhancement (SECURE) Act has expanded access to retirement plans for companies of all sizes through the birth of PEPs. By their structure and operation, PEPs can achieve economies of scale that reduce administrative costs and mitigate fiduciary liabilities inherent with 401(k) retirement plans. As the named plan fiduciary, the Pooled Plan Provider (PPP) is responsible for plan governance which includes the selection of service providers and oversight of service delivery.

About NPPG Plan Professionals, LLC, an Affiliate of National Professional Planning Group (NPPG)

NPPG and its affiliate companies have been servicing clients since 1997 with their employee benefit and retirement plan needs. The NPPG family of companies services more than 7,000 plans, 250,000 participants, and more than $8 billion in plan assets nationwide including Puerto Rico. NPPG offers a full suite of services including, Pooled Plan Provider services, ERISA 3(16) administrative fiduciary services, actuarial services, retirement plan third-party administration for various plan structures (including Multiple Employer Plans (MEPs) and PEPs), institutional investment fiduciary services, and regulatory consulting. NPPG customizes solutions to meet the business and financial goals of its clients, which include members of the New York Stock Exchange and NASDAQ, internationally-known non-profit organizations, Fortune 500 companies, and government agencies, as well as small entrepreneurial businesses, associations, and Professional Employer Organizations (PEOs). For further information, visit www.nppg.com or call 1-(800) 340-5160.

Important Disclosures

NPPG and its affiliate companies are not law firms and do not provide legal services. Legal advice should be sought from a qualified professional. Opinions on investment adviser registration are those of NPPG and its principals as of the date of publication and are subject to change without notice. Statements regarding firm clients should not be construed as testimonials or endorsements of NPPG, its affiliates, or their respective personnel and should not be used as the sole determining factor when determining to hire, retain, or terminate an investment adviser and/or pooled plan provider.

1 NPPG analysis of Form PR registration filings on US Department of Labor EFAST website. Accuracy of these counts is estimated but cannot be assured.

2 Subject to state law, representatives of registered investment advisers are generally required to pass certain exams. This is a separate process from the actual act of registering as an investment advisory firm with the SEC, which alone does not imply a certain level of skill or training.

Media Contact

Alan Gross, NPPG Plan Professionals, LLC, 1 9047355358, alan.gross@gsm.marketing, https://www.nppg.com/

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SOURCE NPPG Plan Professionals, LLC

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Neusoft Remains No.1 in China’s Healthcare Security Information System Market Share

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SHENYANG, China, July 18, 2024 /PRNewswire/ — In a recent report by IDC titled China Healthcare Security Administrating System Market Shares, 2023: Deepening Application, Neusoft Corporation (Neusoft, SSE: 600718) once again ranks first in China’s healthcare security information system market share, reflecting its ongoing leadership in this field.

Healthcare security informatization was the starting point of Neusoft’s Big Health business strategic layout. Having been deeply engaged in the field for three decades, Neusoft witnessed the development process of China’s healthcare security system, and has been empowering the establishment of the multi-tier and wide-coverage system with its innovative technologies, products, solutions and services. With rich experience and successful practice in healthcare security informatization, Neusoft has won widespread recognition and good reputation in the market. Meanwhile, Neusoft is actively developing systems for deepening application in the areas of data governance and public services, and integrating AI technology into healthcare security informatization, to lead the industry towards continuous innovation and advancement.

Currently, Neusoft provides robust support in building China’s unified national healthcare security information platform, as well as the healthcare security platforms in over 200 cities across 25 provinces. Neusoft is enhancing its R&D investment in AI technology, continuously exploring the innovative application scenarios and practices of healthcare security big data. Besides, Neusoft has recently introduced an integrated solution tailored for China’s compact county-level medical community, facilitating total payment for healthcare security, to empower the development of county-level medical communities.

Looking ahead, Neusoft will strengthen its digital and intelligent business layout and continue to engage deeply in building intelligent healthcare security information system, enhancing the accessibility and convenience of healthcare security services, to promote the digital and intelligent development of the industry.

For more information about Neusoft, please visit www.neusoft.com

View original content:https://www.prnewswire.com/apac/news-releases/neusoft-remains-no1-in-chinas-healthcare-security-information-system-market-share-302201305.html

SOURCE Neusoft Corporation

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Motherhood Care+ Secures Seed Funding from Care Ventures Group to Revolutionise Maternity Care Industry

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KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ — Motherhood Care+, an innovative health & wellness tech startup based in Malaysia, announced today the successful completion of a seed funding round in December 2023, led by Care Ventures Group, a fund specialising in healthcare, wellness, medical, and AI technologies.

Motherhood Care+: The Future of Maternity

Motherhood Care+ aims to elevate maternity care standards by integrating a comprehensive array of products and services from confinement centres, confinement nannies, and confinement wellness providers. Recognising the critical importance of prenatal and postnatal health & wellness for new mothers, the startup supports women throughout their 9-month pregnancy journey and the crucial first 100 days post-birth.

Motherhood Care+ is a female-led and female-founded company, established in May 2023 by Tan Yew Aik and Goh Shze Yinn. Ms. Tan brings over a decade of experience in the postpartum care and maternity industry and is a co-founder and committee member of the Malaysian Postpartum Care Association. Ms. Goh, with a diverse background in finance and technology, also serves as a board member of Nuren Group Limited, an Australian-listed parenting tech company. Their combined expertise and leadership are pivotal in driving the vision and success of Motherhood Care+.

Funding and Future Plans

“We are thrilled to partner with Care Ventures Group, whose investment underscores our mission to transform the maternity care and wellness landscape,” said SY Goh, Co-founder of Motherhood Care+. “With this funding, we plan to expand our platform and enhance our technology to streamline operations and optimise user experience. In the next six months, we aim to feature at least 750 confinement centre rooms and 1,300 confinement nannies in the Care+ Members App, enabling us to better serve mothers across Malaysia and Singapore.”

Care Ventures Group’s investment comes as Motherhood Care+ achieves operational profitability within less than a year of its inception in March 2024. The startup is set to launch its flagship technology platform, the Care+ Members App, in August 2024. The app aims to cater to 200 new mothers monthly by providing access to a curated selection of maternity care services.

Investor’s Perspective

“We are impressed with the traction and metrics that Motherhood Care+ has achieved in such a short period,” said Dato Eng, Partner at Care Ventures Group. “Both Tan and Goh are domain experts, combining extensive knowledge of the maternity industry with operational excellence in technology adoption and financial controls. I am excited to be part of this promising journey.”

Utilisation of Funds

The seed funding will support Motherhood Care+’s strategic initiatives, including merchant acquisitions, process optimisation, and technology advancement. Over the next six months, the startup aims to onboard over 750 confinement centre rooms and 1,300 confinement nannies onto the Care+ Members App, enhancing accessibility to quality maternity care services across Malaysia and Singapore.

Learn More

To sign up and learn more about the Care+ Members App, visit https://app.motherhood.care/home.

About Motherhood Care+

Motherhood Care+ is a forward-thinking health & wellness tech startup dedicated to revolutionising maternity care. Established in May 2023 and based in Kuala Lumpur, Malaysia, Motherhood Care+ aggregates products and services from confinement centres, confinement nannies, and confinement wellness providers to support new mothers throughout their pregnancy and postnatal journeys. Led by co-founders Tan Yew Aik and Goh Shze Yinn, the company combines extensive industry expertise with innovative technology to enhance maternal health outcomes. Motherhood Care+ aims to elevate maternity care standards by integrating comprehensive solutions that prioritise the health and wellbeing of mothers and their newborns.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/motherhood-care-secures-seed-funding-from-care-ventures-group-to-revolutionise-maternity-care-industry-302201306.html

SOURCE Nuren Group

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Introducing the World’s First Consent-Based Data-Sharing Framework Built on Open Standards: The Affinidi Iota Framework

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Affinidi Iota Framework disrupts how businesses gain insights about customers. The framework shifts the processing of queries to a personal data vault, providing transparency regarding what is disclosed through explicit consent. This grants individuals full control over how they are discovered and how they share information with others.Affinidi Iota framework democratises developers’ access to data through modern and privacy-preserving open standards, including W3C Verifiable Credentials, DIF Decentralised Identifiers, OID4VP, OID4VCI, and Presentation Exchange format (PEX).

BERLIN, SINGAPORE, BANGALORE, India, July 19, 2024 /PRNewswire/ — Affinidi, a Singapore-based data and identity management company, launched the Affinidi Iota Framework built on open standards at the WeAreDevelopers World Congress. This innovative framework establishes a new way for individuals to share data by prioritising explicit consent, empowering individuals to selectively share specific data points with a clear understanding of their intended use.

In the traditional digital landscape, individuals often share sensitive data with third parties without transparency or control, leaving their data vulnerable to misuse, unauthorised access, and data breaches. A Twilio report shows that 60% of Asia Pacific consumers demand consent and communication on data use, while a PwC study reveals a trust gap, with only 30% of consumers trusting businesses. Existing solutions exacerbate these issues by collecting vast amounts of individuals’ data (essential/non-essential) and transferring it to back-end databases, burdening developers with managing large volumes of data and associated risks.

Affinidi’s Iota Framework disrupts this outdated model, pioneering a new era of data privacy and security. The Affinidi Iota Framework enables developers to request essential data points directly from individuals, with explicit consent, eliminating the need to collect and store non-essential information. This approach ensures individuals maintain control over their data, reducing storage burdens, and minimising risks associated with data collection and potential misuse. Affinidi equips developers with dev-friendly templates and robust tools, streamlining the setup of data-sharing processes. With our easy-to-use SDK, developers can navigate the complexities of identity, privacy, and security, building innovative solutions in just minutes.

The Affinidi Iota Framework revolutionises data exchange between businesses and individuals by adhering to strict consent-first principles, providing businesses with richer, more accurate data that enhances personalisation, and fosters market innovation and competitiveness. Roopesh Shah, Co-Founder and CTO of Gro Club, India’s first and largest bicycle subscription model that recently adopted Affinidi’s solution for seamless integration, shared, “We began with Affinidi Login to simplify access to individual data through a one-click onboarding process. But with the introduction of the Affinidi Iota Framework, we are thrilled to advance beyond efficient customer onboarding, laying the groundwork for a future where every interaction is precisely tailored to individual preferences based on accurate and consented data.”

Built on Open Standards

The Affinidi Iota Framework leverages cutting-edge technologies such as the DIF Presentation Exchange (PEX) protocol and the OpenID for Verifiable Presentations (OID4VP) specifications built on OAuth 2.0 to deliver a robust consent-first solution for a new way of data sharing.

At the heart of the Affinidi Iota Framework is the DIF Presentation Exchange (PEX) specification. PEX, based on JSONPATH, serves as a standard query language for data exchange, enabling powerful filtering capabilities that accommodate simple and complex use cases. By defining data requests with a structured syntax, PEX simplifies data sharing, making specific data requests more seamless and efficient. Using standardised schemas ensures that queries are portable, allowing multiple developers and businesses to utilise them without reinventing the wheel. This streamlines the data exchange process and enhances interoperability across different systems.Building on the robust OAuth 2.0 authorisation framework, the OID4VP protocol provides a secure transport mechanism for Verifiable Presentations. Simply put, Verifiable Presentations extract specific information from Verifiable Credentials, like signed digital containers holding personal data (such as an ID or diploma). These presentations, shared as VP Tokens, ensure data authenticity and provenance. This groundbreaking feature enhances data safety, reducing risks of data breaches and fraud by sharing only necessary, verified information. It establishes transitive trust efficiently, maintaining high security and privacy standards within the Affinidi Iota Framework.The Affinidi Trust Development Kit (TDK), our SDK, is an open-source toolkit that enables developers to build privacy-preserving applications efficiently, aligning with complex and evolving standards. This streamlined solution integrates multiple elements to provide privacy functionalities without requiring workflow overhauls. By bridging Web 2 and Web 3 technologies, the framework leverages decentralised data stored in the Affinidi Vault for just-in-time data acquisition. It offers a range of modules, including clients for identity management, verifiable credential handling, and login configurations, ensuring flexibility and choice for developers. Supporting various programming languages such as TypeScript and Python facilitates seamless integration of Affinidi’s trust services into applications.

How it Works

The Affinidi Vault is a secure personal data store where individuals can securely store their information. Developers need to create an Affinidi Iota Framework configuration to set up the basics required to query the data from the Affinidi Vault. After creating a configuration, developers can integrate the Affinidi Iota Framework into their application with the Affinidi TDK. This setup ensures that data is shared only with the explicit consent of the vault owner, empowering individuals with choice and control over the information they share while enhancing data privacy and security. This also simplifies real-time data acquisition, reduces complexity, and enhances trust and transparency.

Revolutionising Data Exchange and Ownership

Affinidi is leading a global movement to return data ownership to individuals through its Holistic Identity concept, addressing the fragmentation of digital identities across platforms. The release of the Affinidi Iota Framework marks another significant step towards achieving this vision.

“In a new world where individuals can control their identity and data, we must redefine how information is shared. The Affinidi Iota Framework represents a major step forward in safeguarding privacy and consent by shifting information processing to the individual’s personal data vault. Gone are the days of trusting third parties with sensitive documents like pay slips and bank statements just to open a bank account,” said Glenn Gore, Chief Executive Officer of Affinidi.

The beta version of the Affinidi Iota framework can be accessed through the Affinidi Portal. Learn more about the Affinidi Iota Framework here.

About Affinidi

Affinidi is a data and identity management company founded by Temasek in 2020 that aims to revolutionise data ownership for good through its Holistic Identity concept. Globally anchored in Singapore and supported by strategic hubs in Berlin, Ukraine, and Bangalore, Affinidi seeks to empower individuals, and enrich developers and businesses through its consent-driven and privacy-preserving solutions, rooted in trust and security.

The Holistic Identity concept encompasses the complete spectrum of discovering, collecting, sharing, storing, and even monetising one’s data in the digital world. Affinidi adopts an unwavering user-first approach, providing innovative developer tools with a ‘privacy-by-design’ philosophy within every layer of their tech stack. It emphasises and executes an end-to-end network trust known as the Affinidi Trust Network, underpinning a data environment that is secure and inherently interoperable. This commitment to decentralised identity management transcends borders and industries.

Affinidi is actively pioneering the #ReclaimYourData movement through advocacy, partnerships, and education. Find out more here: https://www.affinidi.com.

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