Two proposals aim at retirement saving

Two little-noticed proposals in a report issued this month by the Washington-based U.S. Chamber of Commerce aim to make it easier for people to save for retirement.
One would require companies with more than 20 employees that don’t offer retirement plans to set up automatic-enrollment 401(k)-type plans.
The companies wouldn’t have to make contributions or be responsible for compliance; they merely would have to choose a financial institution to handle the plan, and send in contributions.
But the requirement that small companies offer defined contribution plans is likely to be controversial with small businesses, and the life insurance industry is cool to the idea of consolidating 401(k)-type plans.

Linsco brings aboard chief market strategist
Bolstering its research team, Linsco/Private Ledger Corp. of Boston and San Diego has hired Jeffrey Kleintop as chief market strategist, a new position.
He was most recently chief investment strategist with the wealth management arm of The PNC Financial Services Group Inc. of Pittsburgh.
Linsco’s 7,800 affiliated representatives and advisers pay close attention to the firm’s research, as 65 cents of every dollar they invest tracks a recommendation by its research team, Mr. Kleintop noted.

Aflac CEO earned $13.1 million in 2006
The American Family Life Assurance Company of Columbus (Ga.) on Friday disclosed in a Securities and Exchange Commission filing that chief executive Daniel P. Amos received $13.1 million in total compensation last year from the insurer.
The bulk of the compensation was in stock and option awards, which were valued at $9.4 million.
Mr. Amos received a base salary of $1.2 million and $2.2 million in non-equity incentives. He also received $53,485 for use of the corporate jet and $229,543 for security services.

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