Larry Peters
Experiences Leading to the Development of 401(k) Connect to Protect Inc. and Objectives
EXECUTIVE SUMMARY:
- Strategic planning & prioritization
- Operational efficiency & process improvement
- Executive coaching & decision support
- Product strategy & market insight
- Risk assessment & opportunity evaluation
- Industry network & partnership support
- Director – Client Relations
- 1978 to 1982 – Provided consulting and tax advice on employee benefit issues to clients and other Price Waterhouse consultants and accountants. Authored articles and was a frequent speaker on benefit related topics and legislative changes.
- 1982 to 2005 – Managed and cultivated strategic client relationships, serving as a trusted advisor responsible for delivering Mercer’s comprehensive consulting services and driving revenue growth, with an annual consulting portfolio of $3.5 million. Provided strategic consulting across retirement, savings, healthcare, compensation, and employee benefit programs, including the design of executive benefit plans and the preparation of annual actuarial valuations for qualified and nonqualified retirement plans.Conducted due diligence reviews in support of mergers and acquisitions, recommending strategies to integrate, restructure, or rationalize compensation and benefit programs. Renegotiated health and group benefit contracts, analyzed program costs to identify sources of financial gains and losses, and developed strategies to improve cost efficiency and organizational effectiveness.Led the implementation and coordination of global actuarial services and advised clients on human resources organizational structures to maximize operational efficiency. Managed the Northeast Unit’s defined contribution recordkeeping and administration operations, overseeing service delivery and administrative performance. Built and maintained strong, trusted client relationships through strategic guidance, technical expertise, and a commitment to delivering measurable business results.
- 2005 – 2008 – Reported directly to the Chief Financial Officer while providing strategic support to the President and Executive Vice President on employee benefits, executive compensation, retirement programs, and financial administration. Conducted comprehensive benchmarking of employee benefit programs and vendor contracts, evaluating cost competitiveness, service delivery, and regulatory compliance. Led a 401(k) vendor search and successfully implemented a new recordkeeping platform, including revisions to the investment fund lineup, resulting in a 25% reduction in recordkeeping fees. Negotiated health and group benefit contracts to improve service quality and reduce expenses, achieving a 9% reduction in overall prescription drug costs.Directed the outsourcing of defined benefit plan administration, improving participant services while reducing consulting fees.Reviewed sales compensation plan designs and updated all nonqualified retirement, deferred compensation, incentive deferral, and phantom stock arrangements to ensure compliance with Internal Revenue Code Section 409A. Conducted an independent auditor search and streamlined audit processes, reducing audit completion timelines and associated fees. Provided training and technical guidance to divisional controllers, management, and human resources personnel to strengthen operational efficiency, regulatory compliance, and administrative effectiveness. Collaborated with executive leadership to implement cost-saving initiatives, enhance benefit program performance, and align compensation and retirement strategies with broader organizational objectives.
- 2010 – 2021 – Senior Consultant – Westminster Consulting
- 2021 – Present – Provide strategic and operational advisory services to executive leadership, offering objective insights, practical guidance, and independent perspectives to support informed decision-making, organizational growth, and operational excellence. Advise on strategic planning, business prioritization, operational efficiency, and process improvement initiatives to strengthen organizational performance and achieve long-term business objectives.Deliver executive coaching and decision support, helping leadership teams navigate complex business challenges, evaluate opportunities, and develop actionable strategies for sustainable growth.Provide guidance on product strategy, market positioning, risk assessment, and emerging business opportunities, leveraging industry knowledge and professional networks to identify strategic partnerships and collaborative initiatives. Serve as a trusted advisor to leadership, aligning strategic vision with operational execution while promoting innovation, organizational effectiveness, and measurable business outcomes.
401(k) Connect To Protect ensures that employers are compliant with the regulations set forth by the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Service (IRS). All professionals are extensively trained in the COSO Internal Control Framework. The 401(k) Protect To Connect service mission is to provide Compliance Assurance, Enhanced Plan Integrity, and Stakeholder Confidence.
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