Benefit power brokers: retirement

Risk & Insurance,  June, 2008  

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Alex LeBlanc

Senior Vice President, Market Leader

Aon Consulting Inc.

Baltimore/Washington, D.C.

Alex LeBlanc may be without peer among retirement benefits consultants when it comes to driving data; and even the director of compensation, benefits and human resources information systems at a $2.8 billion utility will admit it.

She said that when she took over her position in mid-2002, her intention was to retain LeBlanc only long enough to bring in some people she knew from her days as a tough numbers cruncher. But that day never came to pass. Before she knew it, she found herself relying more and more on LeBlanc. Today, she said, she finds him indispensible.

"He has helped us drive big savings in our plans," the utility client said. "He regularly provides me data on a summary basis that I can trust and that I don't have to dig out myself."

Not long ago, for example, the 3,300-employee utility was facing termination of pension and post-retirement medical programs for cost reasons. But through more rigorous cost controls and other financial measures, LeBlanc and his team saved the programs, she said. Currently LeBlanc is redesigning the company's executive nonqualified program involving the redesign of nine programs with assets of $60 million.

In other recent activity, LeBlanc's not-for-profit clients, municipalities, schools and hospitals will be offering better contribution contracts and vehicles for their participants with more investment options charging lower fees, better communication and more transparent contracts.

"He's a very pleasant person, easy to get along with," said another client.

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Glenn Shapiro

Senior Sales Executive, Benefits

Wells Fargo Insurance Services

Atlanta

Glenn Shapiro and his team are known for their resourcefulness and thoroughness. Consider the case of a current health and welfare customer with about 500 employees. The challenge was to consolidate four separate 401 (k) plans along with a defined benefit plan. The client had three separate providers and multiple financial advisers assisting them. After winning the business, Shapiro and his team prepared an extensive RFP that incorporated all of the specifications of the 401 (k) plans and the defined benefit plan. The information was then submitted to more than 15 401 (k) providers.

After a vigorous winnowing process, Shapiro and his team arrived at a single source 401(k) provider and defined benefit provider that reduced overall expenses. In addition, Shapiro and his team got the retirement plan provider to commit to visiting each local site of the client and meet with the employees, both in a group setting and one on one. As a result, enrollment in the 401 (k) plan has increased by more than 10 percent, and the administrative burden on the human resources department has been decidedly simplified and reduced.

These kinds of results are borne, first and foremost, said the vice president of human resources at a health company, because Shapiro "invests the time to know our business."

Secondly, he is incredibly responsive. "As soon as I have a need, he is available, and he has the same expectation of the people who support him," said the client.

"I can't imagine doing my job without Glenn and his team," added the vice president of human resources at an environmental services company.

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James F. Sampson, AIF

Director of Retirement Services

Telamon Insurance and Financial Network

Newton, Mass.

The past year broadened and heightened James Sampson's reputation as an outstanding communicator. So says his track record and so said his clients.

In the past year, Sampson instituted a six-step process with ' each of his clients designed to improve their retirement program by protecting them from their fiduciary concerns, as well as educating and motivating their employees to save money for retirement. Sampson and his team have increased both participation and savings rates for many of their clients' retirement plans with the implementation of automatic enrollment, automatic savings increases and a dedicated approach to employee education.

In addition, Sampson has added a support team, which includes a Certified Financial Planner, to aide his clients and their employees with technical and investment questions.

"He's very hands-on in caring for the needs of his clients and their employees," said one client relationship manager for a Boston-based financial services company who has known Sampson for many years. "He can communicate with equal effectiveness to fund trustees and fund participants. He really believes in education at all levels."

"He's extremely knowledgeable," said an office manager with another client. "He helped us go through a third-party administrator change two years ago and we remain very happy with it." Personally?. All of his clients cite his great sense of humor and ability to speak in analogies that incorporate experiences of everyday life.