Deals and People June 7, 2019

Retirement Industry People Moves

Rea & Associates adds new plan audit services director; Ascensus acquires TPA firm for FuturePlan platform; and Ameritas adds series of vice president positions. 

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Art by Subin Yang
Art by Subin Yang

Art by Subin Yang

Rea & Associates Adds New Plan Audit Services Director

Rea & Associates has hired Pamela Dunlap, a principal at Rea who joined the firm in March as a strategic addition, as the new director of employee benefit plan audit services and will lead the firm’s Employee Retirement Income Security Act (ERISA) plan audit services practice.

Darlene Finzer, CPA, CSA, QKA, principal overseeing the ERISA plan audit services for the past nine years, will continue to lead Rea’s newly formed Eldercare Services segment. Together they will collaborate while building up the two practices.

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In her new role, Dunlap will oversee the firm’s ERISA plan audit practice, will provide services designed for each of Rea’s employee benefit plan sponsor’s needs, and will continue to manage and train the firm’s ERISA audit team.

“I am happy to hand the reins over to Pam. With over 20 years of experience in the employee benefit plan audit space, she was a strategic hire” said Finzer. “With her experience and expertise in the industry, she is more than ready for this role and will be a great leader at Rea. In the meantime, I’m excited to transition into my new role as the leader of the firm’s Eldercare Services practice. This move will allow me to help accelerate the growth of our firm’s wealth management services.”

Ascensus Acquires TPA Firm for FuturePlan Platform

Ascensus has acquired United Retirement Plan Consultants (URPC). The third-party administration (TPA) firm will immediately become part of FuturePlan by Ascensus.   

Based in Dublin, Ohio, URPC is a leader in retirement plan design, consulting, and administration services. The firm delivers tax‐efficient retirement plans—including 401(k), traditional defined benefit (DB), cash balance, and employee stock ownership plans—and serves clients from sales and service centers in office locations throughout the country.

“Like FuturePlan, URPC is structured as a national network of local experts,” says Jerry Bramlett, head of FuturePlan. “Our leadership group is looking forward to working with the 200+ URPC associates to continue to provide their clients with great support while building an enhanced service experience.”

“With the addition of URPC, FuturePlan now has more than 48,000 plans under administration,” continues Bramlett. “We see an opportunity to use their scale to further the expansion of our national TPA service model. Along with our continued investment in technology, infrastructure, sales, plan services, and solutions delivery capabilities, this will further strengthen our geographic focus and help to deepen our platform, channel partner, and financial advisor relationships.”

Ameritas Adds Series of Vice President Positions

Ameritas has hired several officer elections, effective as of June 1.

The following new hires are:

Scott Renard, who was elected vice president of actuarial for retirement plans. His previous position was second vice president of actuarial. Renard earned a bachelor’s degree in actuarial science from the University of Nebraska-Lincoln. He holds the professional designation of FSA (Fellow, Society of Actuaries) and MAAA (Member, American Academy of Actuaries).

Scott Farmen, who was elected vice president of compliance. His previous position was second vice president – corporate compliance. Farmen earned a bachelor’s degree in English and psychology from Nebraska Wesleyan University and a juris doctorate from the University of Nebraska College of Law. He holds the professional designations of CLU (Chartered Life Underwriter), ChFC (Chartered Financial Consultant), CAMS (Certified Anti-Money Laundering Specialist), among other designations. 

Larry Keiter was elected second vice president of talent development in human resources. His previous position was director of talent development. Keiter earned a bachelor’s degree in business administration with an emphasis in finance from the University of Nebraska Kearney and a master’s degree in strategic management from Regis University, Denver, Colo. He holds the professional designations of Gallup certified strengths coach, a Bates executive presence (ExPI) certification, ACTP certified executive coach and is certified in the KornFerry’s 360 assessment and assessment of leadership potential.

John Webb was elected second vice president of compliance in retirement plans. His previous position was director of compliance. Webb earned a bachelor’s degree in music and one in business administration from Berea College, and a master’s degree from Montreat College. He holds the American Retirement Association professional designations of QPA (Qualified Pension Administrator), TGPC (Tax and Governmental Plan Consultant) among others. Webb serves as president of the American Society of Pension Professionals and Actuaries (ASPPA) Benefits Council (ABC) of Greater Cincinnati. 

Jon DeLaCastro was elected second vice president of information security. He recently joined Ameritas after a career with CVS Health in Colorado, where he led security and merger and acquisition activities. Prior to CVS, he served as chief information officer and chief security officer for several organizations.  DeLaCastro attended the University of Nebraska Omaha. He is a member of LOMA and FS-ISAC (Financial Services – Information Sharing and Analysis Center) and holds multiple certifications from Cisco, Avaya, Microsoft and SANS, among others. DeLaCastro currently volunteers for the Lincoln Public Schools Foundation. 

Administration June 7, 2019

PSNC 2019: Engaging Employees With Benefits Programs

Plan sponsors are meeting participants ‘where they are’ to promote financial wellness.

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(From left) David Hinderstein, Strategic Retirement; Barbara Delaney, StoneStreet Renaissance; Maura Troy Coolican, Morgan Stanley. Group Photograph by Matt Kalinowski


When you pursue wellness, it has a ripple effect. If you help someone with his health and wealth it will not only help your corporation but also the person’s co-workers, family and community as the person becomes less stressed out. That’s why this is such an important topic for us, said David Hinderstein, founder and president, Strategic Retirement Group and moderator of the panel “Engaging Employees With Benefits Programs,” on the second day of the 2019 PLANSPONSOR National Conference (PSNC) in Washington, D.C.

As companies expand both their health and financial wellness programs, they are exploring new communication channels and methods to connect with employees. A recognition that stress over debt and financial issues can be just as detrimental to physical health as an illness has led employers to expand employee well-being programs to create a healthier and more productive workforce.

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How are employers embracing opportunities to create holistic wellness programs, emphasizing both physical and financial health? And what are the key components that drive adoption of, and engagement with, such a program?

Barbara Delaney, principal, StoneStreet Renaissance (SS/RBA), said, “Our definition of financial wellness is living within your means. Part of the issue we see is a lack of budgeting. We tell people to lower 401(k) contributions and pay off credit card debt. We see older participants paying off children’s student loans and putting themselves at risk by sacrificing their retirement.

“This is becoming more prevalent in discussions about financial wellness, and these are some of the things we’re addressing,” she said. “It’s like what they say on an airplane, the flight attendant instructs you to put your oxygen mask on first, before helping others. This is an important metaphor for those of you who run around taking care of everything and everyone else except yourself.”

She concurred that companies are paying more attention to their employees’ health and wellness and offering health savings accounts (HSAs) is part of it.

Maura Troy Coolican, managing director and head of retirement plan solutions, Morgan Stanley, said demographics are critical. “For instance, our [intern] summer analysts are going to have very different needs than older employees. How do you look at your employee base and provide them the best wellness offering you can?”

Student loans and credit card debt are components of the financial situation of a younger demographic. “We use ‘assisted financial coaching’ for this group from our financial wellness program ‘My Secure Advantage,’ to help younger employees think through decisions,” Coolican said.

She added that having company executives set the tone, from the top of the organization down, is critical to promoting wellness engagement. She suggested communicating about these benefits via email correspondence and webinars.

Delaney said some plan sponsors use programs that give employees points for completing certain financial wellness tasks. Incentives may include, for example, lower-cost health care premiums for the next year or free yoga classes.

A manufacturing client of Delaney’s offers webinars on financial wellness topics once a month for employees who work on a factory line. They can listen to the content during their lunch hour, as they can’t take a break from their work otherwise. These employees can also call a help line for answers to their financial questions and speak with a financial coach.

Morgan Stanley offers a virtual adviser. This is another way to support employees who may prefer robo assistance, still giving them the quality and depth of Morgan Stanley’s adviser network, Coolican said.

Session attendee Dan Milfred, senior vice president and chief financial officer (CFO) for Pacific Woodtech Corp., mentioned that his company recently changed recordkeepers, and participants can now view, on one screen, their HSA and 401(k) account totals. This they find to be a useful savings tool.

 


 

 

 

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