Technology

Pooled Plan Provider NPPG Announces SEC Registration as an Investment Adviser

Published

2 months ago

July 11, 2024

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

Technology

3B Scientific Acquires Veterinary Simulator Industries

Published

57 mins ago

September 23, 2024

HAMBURG, Germany, Sept. 23, 2024 /PRNewswire/ — 3B Scientific, a global leader in the manufacturing and marketing of medical and scientific educational products, announced today that it has acquired Veterinary Simulator Industries (VSI), a leading developer of veterinary simulation models.

Founded with a commitment to advancing veterinary education, VSI has developed a range of highly realistic and effective veterinary simulators that are redefining how veterinary training is delivered. With a focus on quality and innovation, VSI’s products provide a practical, hands-on approach to veterinary education, meeting the diverse needs of educators and students around the world. “Veterinary Simulator Industries is widely recognized for its outstanding veterinary training solutions, which perfectly complement our extensive range of educational tools. We are thrilled to welcome VSI into the 3B Scientific family. By combining our strengths in product development, manufacturing, and global distribution, we aim to set new standards in veterinary education, offering unparalleled resources to training institutions and professionals worldwide” commented Todd Murray, CEO of 3B Scientific.

David Jackson, Managing Director of Veterinary Simulator Industries, added: “Joining forces with 3B Scientific is an exciting step forward for VSI. The global reach of the 3B Scientific Group and commitment to innovation will enable us to further develop our product line and deliver even greater value to the veterinary education community. Together, we look forward to creating more advanced, realistic simulators and expanding access to high-quality training tools.”

About the 3B Scientific Group

3B Scientific, established in 1948 in Hamburg, Germany, is a global provider of state-of-the-art medical simulators and educational products for healthcare and veterinary training. With a presence in over 120 countries, the 3B Scientific Group continues to drive its mission of advancing the delivery of medical and veterinary education worldwide.

For more information about 3B Scientific, visit www.3bscientific.com.

About Veterinary Simulator Industries

Veterinary Simulator Industries (VSI) is a leading developer of high-quality veterinary simulators, designed to offer realistic, hands-on training experiences that enhance veterinary education and training. VSI’s products are trusted by educators and professionals globally for their realism and educational effectiveness.

To learn more about VSI, visit www.vetsimulators.com.

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Technology

Reticulate Micro Demonstrates First-ever Live Video Streaming over MUOS Network for a U.S. Army Special Operations Organization

Published

57 mins ago

September 23, 2024

Demo Showcased VAST™Video Throughput, Augmenting MUOS SATCOM for Mobile Forces

PALM BAY, Fla., Sept. 23, 2024 /PRNewswire/ — Reticulate Micro, Inc. announced it successfully demonstrated what the Company believes to be the first-ever real-time video streaming over the Mobile User Objective System (MUOS) tactical satellite network for a U.S. Special Operations organization.

The joint U.S. Army live training exercise included Reticulate and its partners, NanTenna, LLC, a leader in antenna technology innovation, and Curtiss-Wright, a trusted, proven leader in communications and processing systems for the tactical edge as well as other highly engineered products and services for the aerospace/defense industry.

The teams integrated Reticulate Micro’s VAST video encoder and Curtiss-Wright Defense Solutions’ PacStar® Modular Radio Center to deliver live video for the first time over unbonded but Type 1 encrypted MUOS narrowband channels. Despite the constrained bandwidth, the combined solution delivered minimal delay and clear picture quality, demonstrating the potential of live video over MUOS SATCOM systems.

“We demonstrated a complete point-to-point, real-time full-motion video session over MUOS in both static and on-the-move scenarios,” noted Brian Hawkins, principal architect, Reticulate Micro, who conducted the video at a U.S. Army site. “Overall reactions from the customer were extremely positive, with invites back for follow-on exercises.”

“We are proud of our team that executed this powerful demonstration,” said Joshua Cryer, president and CEO, Reticulate Micro. “Along with our partners, NanTenna and Curtiss-Wright, we continue to make history together with low-latency and high-quality voice and video.”

Thomas Larkin, president of NanTenna, considers the MUOS demonstration a huge leap forward in narrowband SATCOM capabilities. “As more and more users are allocated MUOS connectivity, it is imperative that we, as an industry, offer end-to-end solutions to maximize its utility value to the warfighter. This demonstrates that our existing technologies can provide high-quality, low-latency video, even in the most challenging environments,” he said.

“Curtiss-Wright is dedicated to developing small form factor rugged tactical communications solutions for the US DOD and our allies,” said Brian Perry, senior vice president and general manager, Curtiss-Wright Defense Solutions Division. “By pairing our PacStar® Modular Radio Center and Modular Data Center with components from defense industry-leading partners like Reticulate Micro and NanTenna, we are able to extend C2 networks with simultaneous voice, video, and mission data anywhere within the worldwide coverage area of MUOS.”

The latest demonstration follows a U.S. Army demonstration of VAST over UHF TACSAT in February, conducted in partnership with NanTenna. Input from this and other demos is guiding Reticulate’s product roadmap, as it looks to add new features and functionality to meet the U.S. military’s mobile comms requirements.

About Reticulate Micro, Inc. 

Reticulate Micro Inc. (“Reticulate Micro,” “Reticulate” or the “Company”) is a commercial and defense software technology company dedicated to delivering trusted and resilient communications at the network edge. Reticulate specializes in software-defined video compression and streaming solutions and agile, simplified device monitoring and management. Led by tactical communications veterans and satellite and software visionaries, Reticulate delivers resiliency and intelligence on the ground for the military, first responders, critical infrastructure, and enterprise users. We work with an ecosystem of channel and technology partners to bring the most powerful solutions to market across electronic warfare, tactical communications and streaming media technology.

Cautionary Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements that are subject to various risks and uncertainties. In addition, our representatives or we may make forward-looking statements orally or in writing from time to time. We base these forward-looking statements on our expectations and projections about future events, which we derive from the available information. Such forward-looking statements relate to future events or our future performance, including our financial performance and projections, revenue and earnings growth, and business prospects and opportunities. You can identify forward-looking statements by those that are not historical facts, particularly those that use terminology such as “intends,” “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms.

Although the Company believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in the offering statement filed with the U.S. Securities and Exchange Commission on July 31, 2024. Forward-looking statements speak only as of the date of the document in which they are contained, and the Company does not undertake any duty to update any forward-looking statements except as may be required by law.

All trademarks, trade names, product names, or logos mentioned or used are the property of their respective owners.

Contact:

Media:
Reticulate Micro Media Relations
media@reticulate.io

Investor Relations:
Reticulate Micro Investor Relations
ir@reticulate.io

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SOURCE Reticulate Micro, Inc.

Technology

SeatBoost Secures Investment from International Airlines Group

Published

57 mins ago

September 23, 2024

LOS ANGELES, Sept. 23, 2024 /PRNewswire/ — SeatBoost, a startup that is transforming the air travel experience through dynamic seat upgrade solutions, is pleased to announce an investment from International Airlines Group (IAG). This funding marks an important milestone in SeatBoost’s mission to bring joy to travelers’ experiences while generating incremental non-dilutive revenue for partner airlines.

SeatBoost’s platform facilitates live auctions on mobile in the airport environment, offering passengers the chance to bid for premium seat inventory made available by the airlines. The platform not only provides passengers with a unique engaging experience, but it also generates incremental non-dilutive revenue on seat inventory that would otherwise spoil. Current partners include IAG portfolio brand Iberia, TAP Air Portugal, Condor, Avianca and LATAM. With support from IAG through its corporate venture capital arm, SeatBoost plans to expand its capabilities and further improve the travel experience for passengers around the world.

Kevin Stamler, CEO of SeatBoost, shared his thoughts on the investment: “We’re excited to partner with IAG at this important stage in our journey. This collaboration not only supports our vision but also helps us accelerate our growth and innovation. Our aim is to enhance data-driven insights to create personalized experiences for travelers while maximizing revenue for airlines. The investment from IAG validates our business model and underscores the potential of SeatBoost and the positive impact we can achieve together in the travel industry.”

Raza Ali, IAG’s Vice President – Innovation, commented, “Innovation is a core function at IAG, and through innovation we can deliver better customer experiences, more efficient operations, more sustainable aviation and a better-performing business overall. That’s why we think the creative approach of SeatBoost to unlock meaningful revenue from new sources of demand is aligned with our view.”

The partnership with IAG will enable SeatBoost to leverage technology and innovation, improving its current offerings and paving the way for additional solutions that prioritize customer needs and operational efficiency. As SeatBoost expands, it remains committed to setting high standards in the travel sector, ensuring passengers enjoy a seamless, personalized airport and flying experience.

About SeatBoost
SeatBoost is a travel technology startup dedicated to enhancing simultaneously the air travel experience and airline profitability through innovation. Our highly scalable and highly configurable platform is built to leverage the outcome-efficient revenue generating capability of auctions through interactive user engagement.

Instagram – Facebook – LinkedIn

About International Airlines Group (IAG)
International Airlines Group (IAG) is one of the world’s largest airline groups with 585 aircrafts flying to over 250 destinations and carrying more than 115 million passengers in 2023. The Group was created in 2011 and includes the airlines British Airways, Iberia, Aer Lingus, Vueling and LEVEL, and IAG Loyalty and IAG Cargo. It is a Spanish-registered company with its corporate office in London, United Kingdom. Its shares are listed on the London Stock Exchange and on the Spanish stock markets.

IAG’s vision is to be the leading airline group in sustainability. The group is proud to have been listed on the Carbon Disclosure Project’s A List for its commitment to sustainability and action on climate change.

Media contact
Marianna D’Amore
media@seatboost.com

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SOURCE SeatBoost, Inc.