Judy Diamond Associates Analysis Reveals 57,000 401(k) Plans Failed Nondiscrimination Testing

Washington, D.C., June 24, 2014 – Judy Diamond Associates, the 401k plan intelligence provider of leading financial advisors, brokers and fund companies, today released a study revealing that 57,277 401(k) plans failed their most recent IRS nondiscrimination tests. These plans were required to return $794 million in 401(k) contributions to highly compensated employees, resulting in increased income taxes and lower retirement savings for the impacted participants.
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Summit Professional Networks Acquires Pension Data Resources

Combines PDR’s PensionPlanet.com with the Judy Diamond suite of data tools to broaden Summit’s reach and services in the qualified retirement plan market

New York, NY, June 9, 2014 –Summit Professional Networks today announced the acquisition of Pension Data Resources, Inc., known best in the industry by its PensionPlanet.com brand. Pension Data Resources, founded in 1987, provides Form 5500 pension/retirement plan data and information services to individual financial advisors and enterprise financial institutions. Summit owns Judy Diamond Associates, a suite of pension/retirement and health/welfare prospecting and plan analysis tools. The acquisition expands Summit’s position as a leading provider of data-driven prospecting, plan analysis and strategic planning tools to financial advisors, retirement professionals, and financial institutions.
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