Dan Houston Receives PSCA Career Honors
The Plan Sponsor Council of America has awarded Dan Houston its 2026 Lifetime Achievement Award, honoring a career spent advancing retirement security and improving workplace plans for millions of Americans.
Houston, the retired Chairman, President and CEO of Principal Financial Group, has been recognized for his leadership, innovation and service, all of which have made a lasting impact on the retirement plan community.
“Dan Houston’s influence on the retirement system extends far beyond the organizations he has led,” said Will Hansen, PSCA’s Executive Director. “His leadership, vision and advocacy have helped strengthen retirement security for millions of workers while elevating the role that plan sponsors play in helping employees achieve financial well-being. PSCA is proud to recognize his remarkable contributions.”
As President of Principal’s retirement division, Houston was instrumental in the development of Principal Total Retirement Solutions, an integrated approach to address the needs of participants and clients.
Houston has also been an influential advocate for public policy expanding access to workplace retirement plans. He was a vocal supporter of legislation including the SECURE and SECURE 2.0 Acts, and also provided testimony before the U.S. Senate Special Committee on Aging.
Houston also served on numerous corporate and nonprofit boards, including the Employee Benefit Research Institute. He’s received honors including the EBRI Lillywhite Award, been inducted into the Iowa Insurance and Business Halls of Fame, and was recognized as the 2026 Business Record Most Influential Business Leader of the Year.
“Receiving PSCA’s Lifetime Achievement Award is a profound honor,” Houston said. “I believe strongly in the power of workplace retirement plans to strengthen financial security, and I’m grateful to have spent every day of my 40-year career helping people build better futures.”
Equitable Adds T. Rowe Price TDF Series
Equitable has announced the introduction of the Retirement Milestones T. Rowe Price Series, the first target-date fund option available through the company’s Retirement Milestones collective investment trust solutions.
The debut series is co-manufactured with global investment manager T. Rowe Price and Benefit Trust Company, a leader in CIT trustee and administrative services. The product includes Equitable’s stable value fund.
CITs have become a popular element of DC plans due to their efficiency and flexibility. Co-manufactured target-date CITs have recently passed mutual funds in market share, with $2.02 trillion of the $3.97 trillion TDF market as of the end of 2024.
The Retirement Milestones T. Rowe Price Series integrates complementary capabilities in a professionally managed, cost-efficient retirement investment solution that evolves over time with participants’ needs.
The TDFs in the series include Equitable’s stable value fund, with Equitable guaranteeing the principal and credited interest on assets invested in a fixed annuity contract. T. Rowe Price oversees the selection of investments and provides glidepaths for each TDF, and Benefit Trust Company serves as the trustee of each series.
The combination of active and passive management is geared at delivering competitive performance while managing risk across market cycles.
The product is available within Equitable 401(k) and 458(b) retirement plans, where it serves as the QDIA for the Equitable Retirement Access 401(k) PEP and as an investment option across Equitable’s Retirement Vision and Retirement Gateway 401(k) platforms.
Carson Group Acquires Elios Financial Group
Omaha, Nebraska-based RIA Carson Group, a wealth advisory firm with over $65 billion in assets under management, has expanded to its 50th integrated office with the acquisition of Ohio’s Elios Financial Group.
The firm, led by Managing Partner and Wealth Advisor James Elios, serves approximately $367 million AUM, and will become a Carson Wealth office in Cleveland-area Westlake, Ohio.
“Reaching our 50th integrated office is a tremendous milestone in our journey and reflects the caliber of people and firms that have chosen to build their future with Carson Wealth,” said Burt White, Carson Group CEO.
“Advisors are choosing our platform because it gives them the scale, planning capabilities, technology and specialized expertise to grow while preserving the culture and client relationships that made them successful. Jim has built a highly successful practice, and we’re proud to welcome Elios to the Carson community.”
The Elios team, established over 25 years ago, includes Partner and Wealth Advisor Brandon Steinhagen and three support staff members. They’re known for their high-touch, education-driven model and a boutique approach to retirement planning.
“Since founding Elios Financial Group, our mission has been to help families make wise financial decisions and feel confident about their future,” said Elios. “My relationship with Carson began through its coaching and practice management program, giving me nearly two decades to see firsthand how the firm will support that mission and empower our people to continue it.”
Elios and team will benefit from Carson’s financial planning, investment management, tax and estate planning resources, private client offerings, as well as its marketing, technology and operational support.
“Jim knew Carson well through our coaching program, but we never took that relationship for granted,” said Michael Belluomini, Carson Group’s SVP of Mergers & Acquisitions. “We stayed close, kept earning his trust and gave him the opportunity to experience where Carson is today.”
Carson Group serves more than 60,000 client families among its advisory network of more than 165 partner offices and 50 Carson Wealth locations.
Constitution Capital Adds Rich Schainker for DC Role
Constitution Capital Partners, a specialist in alternative asset management, announced the appointment of Rich Schainker as Managing Director. Schainker will be tasked with expanding Constitution Capital’s DC capabilities, as the firm builds on the launch of its Constitution Capital Horizon CIT.
Schainker brings more than three decades of retirement industry background that has included investment strategy, plan design, fiduciary governance and distribution. He will support Constitution Capital as it expands its access to institutional private equity across a broader range of retirement plans.
“We’ve spent years preparing for the opportunity to bring private equity into the DC market, and with Horizon now in the market, our focus is on reaching more retirement plans and participants,” said Daniel Cahill, CEO of Constitution Capital Partners. “Rich has spent his career working across the retirement industry and understands what it takes to build adoption with plan sponsors, advisors and other stakeholders. We’re excited to have him join the team as we continue to build on the progress we’ve made.”
Schainker’s previous roles include work as Senior Director, DC Strategist and Investment Consultant within WTW’s firm management practice—advising plan sponsors on DC strategies including investments, plan design, fiduciary oversight, vendor management and governance. He has also held senior retirement and investment roles with Invesco and Bank of America Merrill Lynch.
“Throughout my career, I’ve had the opportunity to see the retirement market from multiple sides, with a focus on connecting investment strategies with the practical needs of plan sponsors, advisors and retirement plan participants,” Schainker said. “I’m excited to join the Firm and work alongside the team to broaden its relationship across the retirement market and support its continued growth.”
Boston-based Constitution Capital holds approximately $7.8 billion AUM, with a history of more than 280 equity investments across the North American middle market.
Strongpoint Partners Expands Sales, Operations and Marketing Teams
Strongpoint Partners, a tech-enabled retirement services platform for small- to mid-sized businesses, has announced a series of additions to its Partner Services team. The new staff will help extend a sales organization buildout announced earlier this year and support the commercial infrastructure behind Strongpoint’s 24 national partner firms.
Mindy O’Connor will serve as Vice President of Strategic Partnerships, Darius Setna as a business development representative, Allision Broussely and Meosha Bates as marketing engagement managers, and Whitney Wandland as events manager.
“The strength of the Strongpoint platform comes from our people, and these additions give our partner firms more capacity, more support and more ways to grow,” said Danny Hest, Strongpoint Partners CEO.
O’Connor recently served as Head of Business Development for Ascensus recordkeeping, overseeing PEP, broker dealer, DCIO and TPA partnerships; her new role at Strongpoint will focus on developing and deepening relationships to expand the platform’s reach in the retirement and payroll ecosystems.
“We said in June that we were building this organization deliberately, and this is the next step in that plan,” said Mike Shamburger, VP, Head of National Sales for Strongpoint Partners. “Mindy has spent her career turning strategy into results, and she will help us build the partnerships that open new markets for our firms. Adding Darius to our internal sales desk keeps us on pace with the demand we are seeing across the country.”
Bates, Broussely and Wandland will also add new marketing and events-related capabilities to Strongpoint Partners’ growing network of national partners.
Michael Picard Joins BPAS Team
Retirement plan provider BPAS has announced the addition of Michael Picard to its expanded ESOP and kSOP practice. Picard brings more than three decades’ experience in retirement plan administration, institutional trust, corporate finance and plan sponsorship.
Picard’s announcement follows BPAS’s recent acquisition of ESOP One, further expanding the company’s ESOP capabilities with more participant education and engagement technology. He will work with ESOP and kSOP plan sponsors and financial advisors, supporting the strategic growth and operational delivery of the BPAS employee ownership practice.
“Michael brings a rare combination of retirement plan, institutional trust and corporate finance experience that is highly relevant to the challenges facing ESOP sponsors,” said BPAS CEO Paul Neveu. “He understands these programs from multiple perspectives, including as a service provider and as a corporate executive who has been responsible for managing a company’s financial and operational needs.”
Amy Shaub, SVP of Consulting at BPAS, said Picard’s experience complements the company’s growing ESOP and kSOP expertise.
“His background in corporate finance, retirement benefits and institutional trust gives him a practical understanding of the issues employers face, from fiduciary oversight and plan governance to the broader financial considerations associated with employee ownership,” she said.
Most recently, Picard served as CFO and Senior Associate for SWBR, a design firm in Western New York. He has also worked for almost 20 years as CFO with privately held organizations, and has firsthand experience as a BPAS client and plan sponsor. He has served as Chair of the Executive Committee for the Rochester Builders Exchange Insurance Consortium.
“I was drawn to the opportunity to bring together my experience with the growing BPAS ESOP and kSOP capabilities,” Picard said. “I look forward to helping clients and advisors navigate the opportunities and complexities of employee ownership.”
The National Association of Government Defined Contribution Administrators has announced a new installment in its educational series, specifically focused on CITs for public plans.
“Understanding Collective Investment Trusts: What Public Sector Plans Should Know” is the latest Connect Conversation in the NAGDCA’s Connect Virtual Engagement and Learning Series.
The conversation will feature Jason Levy, Deputy General Counsel and Head of Retirement Policy at Great Gray Trust Company. Levy will help explain how CITs compare with mutual funds in cost and regulatory structure, and what plan sponsors should consider when evaluating them for inclusion in their investment offerings.
The NAGDCA said the conversation is timely, considering the increased push to provide 403(b) participants with more cost-effective offerings. The conversation is available at this YouTube link.
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• Principal Expands Featured Partner Program for Private Markets