Frank C. Bermani Jr., executive director of the Society of Professional Administrators and Recordkeepers, Simsbury, Conn., died at home in his sleep on Feb. 26. He was 63.
Mr. Bermani joined SPARK parent RG Wuelfing in 1996 as executive director of the firm's Society of Plan Sponsors and became executive director of SPARK in 1999. Jeffrey S. Close, RG Wuelfing director of marketing and research, said no successor has been named and the executive staff is currently handling Mr. Bermani's responsibilities. Officials are evaluating how they will fill Mr. Bermani's former position, Mr. Close said.
RG Wuelfing founded SPARK in 1989 as a trade association of investment managers and service providers, mainly in the defined contribution plan area. SPARK membership comprises more than 250 companies, which provide services to roughly 95% of the 401(k) plan participants in the United States, according to RG Wuelfing's website.
Robert G. Wuelfing, principal and managing director of RG Wuelfing, said in a statement that Mr. Bermani "was a good friend and important part" of the company, and SPARK "prospered and grew" under Mr. Bermani's direction.
Bill Moore, founder and CEO of third-party administrator PENSERVCO and a member of SPARK's steering committee, said Mr. Bermani "ran SPARK very, very well" and "helped SPARK become what it is today." Mr. Moore noted Mr. Bermani helped establish a standardized process for issuing RFPs throughout the retirement plan industry.
Prior to joining RG Wuelfing, Mr. Bermani was with CIGNA's Retirement Services business for 31 years.
Mr. Bermani is survived by his wife, Margaret, as well as a sister, daughter, son-in-law and two grandchildren. Donations may be made in Mr. Bermani's memory to the Springfield Rescue Mission, 19 Bliss St., Springfield, MA 01105, or a charity of the donor's choice.