DTCC and the NAVA/SIFMA Retirement Income Standardization Taskforce received an award from Operations Management Journal, an Institutional Investor publication, for their teamwork to standardize the reporting process for annuity distribution data. (NAVA is the National Association for Variable Annuities and SIFMA is the Securities Industry and Financial Markets Association.)

The distribution of retirement annuities, which represents a unique set of challenges for the insurance industry, is expected to gain increased focus as baby boomers approach retirement.

The Taskforce, convened in the fall of 2006, has made significant progress, particularly in identifying its top needs from DTCC, according to Operations Management Journal. The group includes DTCC, The Hartford, SIFMA, NAVA and other industry participants. @