Iselin, NJ April 23, 2014 – The Institutional Retirement Income Council (IRIC), a non-profit think tank for the retirement income planning community, announced today that Lincoln Financial Group and Voya Financial have become sponsors of this elite group of organizations and professionals dedicated to promoting the need for retirement income adequacy for participants in defined contribution plans. IRIC also announced that retirement plan industry veterans Bob Melia and Ralph Ferraro will join its group of advisors as part of the new sponsorships.
“We are very pleased that Lincoln Financial Group and Voya Financial have become IRIC members,” said William Charyk, President of IRIC. “These leading organizations are committed to developing retirement income solutions for plan sponsors that fully support our mission to facilitate the culture shift of defined contribution plans from supplemental savings plans to programs that provide retirement security. The individuals who will become part of IRIC’s advisory group bring knowledge and perspective regarding retirement plan solutions. We look forward to benefiting from their participation in the identification, refinement and prioritization of IRIC’s future areas of focus in this critical field.”
Melia is vice president of product development for the retirement plan services product and solutions management team at Lincoln Financial Group. In this role, Melia is responsible for identifying applicable trends, regulatory changes, legislative changes, competitive product developments, plan sponsor needs and participant needs as they affect Lincoln’s retirement plan services business and the employer-sponsored retirement plan industry
Ferraro is currently head of product management in the small and mid-corporate markets segment within Voya Financial’s corporate markets retirement solutions business. He is responsible for the segment’s financials and product management, which includes design and development of new products and features for defined contribution programs. Prior to the firm’s acquisition of CitiStreet, Ferraro was an executive vice president of corporate markets within CitiStreet’s retirement services division.
About The Institutional Retirement Income Council
The Institutional Retirement Income Council (IRIC) is a non-profit, membership-based organization of industry advisors who are dedicated to sharing best practices, informing about legislative and regulatory issues, and facilitating solutions for plan sponsors and their participants. IRIC’s mission is to facilitate the culture shift of defined contribution plans from supplemental savings programs to programs that provide retirement security. By providing a forum for insightful, solutions-oriented thought leadership on institutional retirement income, the IRIC is promoting the need for retirement income adequacy for defined contribution plan participants.