Independent Operational Fiduciary Launches Its First Pooled Employer Plan

 Group Plan Systems, LLC (GPS), an independent operational fiduciary for employer-sponsored retirement plans, has signed an agreement with JULY Business Services (JULY) to serve as recordkeeper and third-party administrator to a Pooled Employer Plan (PEP) for which GPS will serve as the Pooled Plan Provider (PPP).

“After nearly 18 months of due diligence, we are eager to launch our first PEP with JULY,” said Pete Swisher, a Managing Partner of GPS. “We are confident that their compliance infrastructure and operations are well-designed and will provide a solid foundation from which GPS can oversee plan operations in a prudent manner.”

While GPS’ first PEP is constructed to focus on serving start-up and small plans, “We have a lot of interest from banks, broker-dealers and investment advisers that are developing group solutions for all clients – large and small,” according to Jason C. Roberts, ERISA attorney and co-founder of GPS. “Consequently, this is the first of many PEPs we will be sponsoring, but a key differentiator with all of them is that employers retain the exclusive right to hire investment professionals of their choosing,” says Roberts. “We have no interest in hiring or firing 3(38) managers, so we have carefully engineered the plan documents to put that duty solely in the hands of each employer, which is consistent with the letter and spirit of the SECURE Act,” he adds.

GPS, officially formed in August 2021, is a partnership between Pension Resource Institute (PRI) and Waypoint Fiduciary (Waypoint), founded by Messrs. Roberts and Swisher, respectively. “After working with JULY on our group plan solution, I came away extremely impressed by their process, technology, knowledge, and most importantly, the people,” Swisher said. “They are highly committed to delivering for the plan participants and employers they serve.”

About GPS:

GPS provides independent fiduciary oversight that allows recordkeepers, TPAs, and financial institutions to serve retirement plans with confidence and at scale. For more information, please visit our website www.groupplansystems.com, or contact us via email at info@groupplansystems.com.

Group Plan Systems

Pete Swisher

1-859-608-9920

www.groupplansystems.com

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Hong Kong – Operational event at Daya Bay Nuclear Power Station

Operational event at Daya Bay Nuclear Power Station

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     The Nuclear Emergency Committee Office of the Guangdong Province notified the Security Bureau today (May 10) of an operational event at Daya Bay Nuclear Power Station (DBNPS), a Security Bureau spokesperson said today.



     On May 8, during a routine inspection, station staff found that a speed controller in one of the backup diesel generators of Unit 2 of the DBNPS was not working properly. They immediately replaced the dysfunctional speed controller. After the replacement, it was confirmed that the speed controller had resumed normal function. The Unit remained in a safe condition throughout the above event.



     This event was classified as a Level 0 deviation on May 9 in accordance with the International Nuclear and Radiological Event Scale. It did not affect the safe operation of the Unit, the health of the workers, the nearby public or the environment.



     The Daya Bay Nuclear Power Operations and Management Co Ltd has released the details of this event on its website (www.dnmc.com.cn) (Chinese only), which can be viewed in the “operational events” section under the “nuclear and radiation safety information” page of the website.

Canada – Final operational flight of the CC-115 Buffalo aircraft

The final operational flight for the CC-115 Buffalo aircraft was flown today by 442 Transport and Rescue Squadron, based out of 19 Wing Comox, British Columbia.

January 15, 2022 – Ottawa – National Defence / Canadian Armed Forces

The final operational flight for the CC-115 Buffalo aircraft was flown today by 442 Transport and Rescue Squadron, based out of 19 Wing Comox, British Columbia.

As they have done countless times over the course of the Buffalo’s service to Canada, the final operational flight involved airborne search and rescue standby training, conducting a flight within Search and Rescue Region Victoria, ready to divert to an emergency at a moment’s notice from Joint Rescue Coordination Centre Victoria. Training included Search and Rescue Technician parachute jumps and parachuting of emergency equipment as the aircraft visited locations around Vancouver Island.

While work continues to prepare the CC-295 Kingfisher aircraft for its new role as Canada’s fixed-wing search and rescue aircraft, interim search and rescue coverage for the Search and Rescue Region Victoria will be provided by the CC-130H Hercules fleet. Aircraft from 435 Transport and Rescue Squadron will augment 442 Transport and Rescue Squadron to ensure consistent fixed wing search and rescue coverage.

“The CC-115 Buffalo aircraft, its aircrew and personnel have provided crucial assistance to Canadians for more than five decades. To those who worked with the “Buff”: your dedication, service and commitment to excellence demonstrate that Canadian Armed Forces members put duty before self to help Canadians in time of need. Thank you for your service.”

The Honourable Anita Anand, Minister of National Defence

“In the Royal Canadian Air Force, we have an incredible respect and strong sense of pride for the aircrew, maintenance and support personnel who have dutifully served alongside the CC-115 Buffalo aircraft over the past 55 years. These amazing teams, and the “Buff” itself, are known to have operated in many challenging operational environments. Their stories and commitment to operational excellence will be etched into storybooks, and in bidding farewell to the “Buff,” we will always remember those brave members lost in 1974, who perished while the aircraft was operating overseas on a peacekeeping mission with the United Nations.” 

Lieutenant-General Al Meinzinger, Commander Royal Canadian Air Force

“The CC-115 Buffalo entered service in the Royal Canadian Air Force in 1967 and has been used for search and rescue operations since 1975. Canadians, especially on the West Coast, will recognize the aircraft for its distinctive search and rescue paint scheme that was likely a welcome sight for many requiring life-saving rescue throughout its distinguished service. A special thank you to all those who served on this aircraft; for your remarkable expertise and professionalism. Buffalo crews and maintainers have a lot in common with their aircraft, as they are both known for being hardy and resilient!”

Lieutenant-Colonel Rhonda Stevens, Commander 19 Wing Comox and CC-115 Air Combat Systems Officer, Royal Canadian Air Force

Procured between June 1967 and December 1968, the CC-115 Buffalo aircraft provided medium tactical transportation and search and rescue services. The CC-115 entered service in 1967 and has been flown by the Royal Canadian Air Force (RCAF) for 55 years.

The CC-115 aircraft initially served in the RCAF as multi-purpose transportation aircraft and was flown on multiple United Nations missions overseas. In the 1970’s it was converted to a dual role transport / search and rescue aircraft, before being exclusively flown in Canada as a fixed wing search and rescue aircraft. The CC-115 has been flown by 429, 413, 424, 440 and 442 Squadrons in the RCAF. 

On August 9, 1974, a CC115 Buffalo (CC1155461) was shot down by Syrian anti-aircraft missiles while on United Nations duty supporting Peacekeepers in the Golan Heights. All nine CAF members on board were killed, making it the largest single loss of lives in Canadian peacekeeping history.

While flying as a search and rescue aircraft, the CC-115 Buffalo has played a critical role in supporting life-saving missions throughout Canada and later in its service history, exclusively serving in the West Coast region. Well-suited for flying over rough and mountainous terrain, the Buffalo is recognized for its all-weather capabilities. 

The Department of National Defence will retain three CC-115 Buffalo aircraft as historical artefacts to fulfill the departmental obligations towards history and heritage. The remaining aircraft have been or will be transferred to museums or used as training aids.

The Government of Canada is acquiring a fleet of 16 CC-295 Kingfisher aircraft to replace both the CC-115 Buffalo and CC-130H Hercules aircraft in the fixed-wing search and rescue role. Rotary-wing search and rescue in Search and Rescue Region Victoria is provided by the CH-149 Cormorant helicopter.

Media Relations

Department of National Defence

Phone: 613-904-3333

Email: mlo-blm@forces.gc.ca

Hong Kong – Operational event at Daya Bay Nuclear Power Station

Operational event at Daya Bay Nuclear Power Station

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     The Nuclear Emergency Committee Office of the Guangdong Province notified the Security Bureau today (July 15) of an operational event at Daya Bay Nuclear Power Station (DBNPS), a Security Bureau spokesperson said today.
      
     On July 13, during a routine inspection, station staff found that a ventilator in the electrical plant of Unit 1 of the DBNPS was rotating in a reverse direction. They immediately rectified the ventilator’s rotation direction according to the procedures. After the adjustment, it was confirmed that the ventilator had resumed normal function. The event did not affect the normal operation of the plant’s equipment, and the Unit remained in a safe condition throughout the above event.
      
     This event was classified as a Level 0 deviation on July 14 in accordance with the International Nuclear and Radiological Event Scale and the relevant nuclear safety regulations. It did not affect the safe operation of the Unit, the health of the workers, the nearby public or the environment.
      
     The Daya Bay Nuclear Power Operations and Management Co Ltd (DNMC) and the Hong Kong Nuclear Investment Company Limited (HKNIC) have released the details of this event on their websites respectively. The relevant information can be viewed in the “operational events” section under the “nuclear and radiation safety information” page of DNMC’s website (www.dnmc.com.cn) (Chinese only), or in the “media room” section under the “about HKNIC” page of HKNIC’s website (www.hknuclear.com).