Wells Fargo

Regency Centers Corp., in Jacksonville, Florida, has worked with recordkeeper Wells Fargo for many years. According to Reese Dowell, benefits and compensation manager for Regency Centers, at the heart of this long-lasting relationship is the dedication of the Wells Fargo service team, particularly Relationship Manager and Vice President Mary Lou Scribner, Account Manager Jason McQueen and Communications Manager Joyce Thompson.

Dowell points to a variety of the types of situations in which the Wells Fargo team shines.

“Due to an acquisition in 2017, our Wells Fargo team proactively helped us roll over fund balances from the acquired employees’ previous 401(k) plan to our plan,” Dowell recalls. “Acquisitions can be cumbersome and time-consuming; however, Wells Fargo made the transition flow smoothly and without fail as proved during our 2017 plan year audit.

“Speaking of plan audits,” Dowell continues, “every year is effortless, with requesting and receiving information and documentation from Jason McQueen.”

Regency’s plan committee dedicates time each year to meet with Wells Fargo and Dixon Hughes Goodman, the 401(k) plan audit team—along with Regency Centers’ internal financial reporting and payroll teams—to develop an annual audit plan.

When it comes to working on participant success, each year the plan committee and the entire Wells Fargo team reviews plan benchmarks and develops a targeted communication campaign. Recently, Thompson created a custom communications campaign targeting participants who defer less than 10%.

“As Regency is a real estate development corporation, she used the tagline ‘Retirement. Build It,’” Dowell explains. “Joyce provided us with measurement reports showing us the percentage of employees who took action after the targeted program. This way of proactive and creative thinking helps us to effortlessly manage and administer our plan.”

—John Manganaro