Steve Patterson of Fidelity Investments elected vice chair
WINDSOR, Conn., April 19, 2018 – Last week at the Retirement Industry Conference, the LIMRA LOMA Secure Retirement Institute (LIMRA LOMA SRI) Board of Directors elected Carolyn Johnson to be the new chair in 2018. She previously served as the vice chair and is succeeding Bill Anderson of American Funds. The new vice chair will be Steve Patterson of Fidelity Investments.
“We are pleased to have two such accomplished executives take on key leadership roles on the LIMRA LOMA Secure Retirement Institute board,” said Robert A. Kerzner, president and CEO of LIMRA, LOMA and LL Global. “As the realities of our industry continue to change, I’m confident that Carolyn and Steve will provide valuable guidance and direction to the Institute and help identify ways in which the industry can help Americans better prepare for a secure retirement.”
Johnson is the chief executive officer of Annuities and Individual Life for Voya Financial. In this capacity, she is responsible for aligning the strengths of both segments, providing a holistic customer experience. She also serves on Voya’s executive committee. Voya is a Fortune 500 company that serves the financial needs of over 14.7 million individuals and institutions in the United States. The company had $555 billion in total assets under management and administration as of December 31, 2017.
Patterson is executive vice president, Sales for Workplace Investing, Fidelity Investments. In this role, Patterson oversees all client growth for workplace retirement savings and human resources services offerings for clients of all sizes, including tax-exempt plan sponsors. With assets under administration of $6.9 trillion, including managed assets of $2.5 trillion, Fidelity provides more than 27 million investors and 23,000 business with retirement planning, portfolio guidance, brokerage services as well as offering many other financial products.
The LIMRA LOMA SRI board also announced the following new members:
- Stephen T. Joyce (CLU, CFP), senior vice president, American Funds
- Wayne Park, head of Individual Investors, T. Rowe Price
- Jerry W. Patterson Jr, senior vice president, Retirement and Income Solutions, Principal Financial Group
- Eric R. Stevenson, senior vice president, Nationwide Retirement Plans Distribution
- George Philip Waldeck Jr., president and chief executive officer, Prudential Retirement
According to the Board’s governance rules, each officer will serve a one-year term, offering direction to the retirement research and educational programs for LIMRA LOMA Secure Retirement Institute.
“As the U.S. retirement market faces substantial challenges and American consumers’ retirement expectations and realities evolve, there is a need for an informed discussion about the needs and issues that influence retirement. The LIMRA LOMA Secure Retirement Institute offers a forum for leaders across all retirement sectors to explore the obstacles facing Americans trying to achieve a financially secure retirement and identify ways the industry collectively can improve retirement readiness through research, education and innovation,” noted Johnson. “Having previously served as the vice chair, I am honored to have once again earned the confidence of my peers and look forward to this new leadership role as the 2018 chair of the LIMRA LOMA Secure Retirement Institute."
About LIMRA LOMA Secure Retirement Institute
The LIMRA LOMA Secure Retirement Institute provides comprehensive, unbiased research and education about all aspects within the retirement industry to improve retirement readiness and promote retirement security. For information on the LIMRA LOMA Secure Retirement Institute, visit: www.limra.com/sri.