From Empower

Cathy Boyan, senior relationship manager, and Daniel Smolinski, senior client service manager, of Empower have been working with Berry Petroleum Company since 2019, but the two had their biggest challenge when Berry acquired oil drilling company C&J Well Services at the end of 2021. “Berry had to fully transition 950 employees, which was three times our original size, in only 30 days,” says Marisol Ramirez, vice president of human resources for Berry.

“This was the first time they’d acquired another company,” Smolinski says. The transition required substantial communication upfront, particularly about the retirement plan, he notes.

Bringing the additional workers into the 401(k) plan was challenging because the acquired company did not have a 401(k). Berry uses automatic enrollment and wanted to provide education about the plan’s benefits. But most of the new employees worked in the oil fields and had no desk with a computer.

Boyan and Smolinski figured out how to bring the information to them—conducting educational seminars in trailers early in the morning and when workers would come in from the oil fields during the day. “They needed face-to-face communication and training. We even had a night to invite the spouses and let them understand what we offer as an organization,” Ramirez says.

The total transition was completed in 60 days. “It was a lot of work in a short period of time,” Ramirez says. “But my team and Empower made it pretty seamless. They understood the urgency and provided tremendous service.”

Berry Petroleum is in the midst of another acquisition that has different challenges. “It’s a much smaller group, but they have existing 401(k) balances, which we’re working to make it as easy as possible to roll into the new plan,” Boyan says.

“In my 20-year career, I haven’t worked with another team that really understands not only our industry but also our business model,” Ramirez says. “They’re an unbeatable team.”

—Kimberly Lankford