From Transamerica

Gaye Knight, director of accounting at Wright Lindsey Jennings LLP, a 124-year-old law firm based in Little Rock, Arkansas, nominated Waterbeck and Ussery for service that stands out over her long career. “I’ve been working with Transamerica for more than 30 years, and I promise that I know that this is excellent service,” says Knight, who came to WLJ in 1985 from Deloitte.

As a seasoned financial executive, Knight has plenty of experience with the workings of the plan, but she contacts Waterbeck and Ussery when she has more complicated questions. “I’ve been at my firm for almost 40 years, so I am many times self-sufficient,” she says. “When I reach out to Jill, I truly need assistance. She provides me with that or gets me to the person that can assist. Lori routinely delivers over-the-top service on small and large tasks.”

The firm has a generous 401(k) plan design, which includes a 3% safe harbor non-elective contribution, a 4.5% non-elective profit-sharing contribution, and an additional matching contribution of 50% up to the first 12% of compensation, says Ussery. “There are testing complexities and tight turnaround needed each year,” she says.

As a partnership, it’s important for the firm to balance plan benefits and costs. “Our plan design is generous enough to be considered by potential employees as a great plan, but also consider that the expense to the partnership is important to manage,” says Knight.

They provide robust education to all participants, whether they’re attorneys or support staff. “We make education available routinely and have consultants available at any time for a participant to talk to,” says Knight. “We educate all participants the same.”

They also deal with the complexities of start dates for the firm’s young lawyers’ program – summer associates who work for six weeks each summer, return to law school, and then may resume work full-time after graduation. “That’s potentially many termination dates and rehire dates in a young lawyer-to-be’s life. Our HR department has to be on top of documentation with how we handled those dates as they could seriously impact when that person could begin contributing,” says Knight.

Knight appreciates the team’s responsiveness to inquiries, which at times are complex. “This can include plan data issues with hours and sometimes employment records, eligibility calculation, and self-directed funding accounts – all out-of-the-box issues due to plan provisions that are different than a standard plan,” says Waterbeck.

“My team of Jill Waterbeck and Lori Ussery is truly awesome,” says Knight.