McKay Hochman to End Operations December 31, 2016
McKay Hochman, a subsidiary of DST Systems, is a well-respected consulting firm that has been serving the employee benefits field since 1979. They recently announced that, as of December 31, 2016, it would end operations and close. The following is part of their announcement:
"Over the past several years, DST has completed strategic acquisitions and has made substantial investments in the expanded solutions we provide to the Financial Services industry, including a significant broadening of our Retirement Solutions capabilities. As part of the regular strategic review of our business, we determined that many of the solutions provided by McKay Hochman could be delivered most effectively from other parts of our Retirement Solutions group, and so we have announced a winding down of the McKay Hochman operation by the end of this year. We appreciate the value and contributions Rich Hochman has made to DST and the industry, and we wish him well going forward.
"After fulfilling our obligations for 2016, McKay Hochman will not be renewing the licensing agreements for 2017. The 401kPortal®, education, and our technical consultant services hotline will continue through the end of 2016. The McKay Hochman document client newsletters, specifically, Prototype Plan News and 403(b) Perspectives which are part of the document maintenance contract will continue through the end of 2016, although they will now be a combined newsletter. Our Retirement Plan News newsletter is a separately licensed subscription which will be continued after 2016 by DST. A separate mailing will be made to RPN subscribers.
"An official notification of the closing of McKay Hochman, including details to begin the client's transition process, has recently been mailed to McKay Hochman's clients."
Rick Meigs, President, 401khelpcenter.com