Duncansville, PA (April 28, 2017) – A client of L.R. Webber Associates (LRW), Thomas Automotive Family, recently won the “Plan Sponsor of the Year” award from PLANSPONSOR, a trusted magazine for retirement benefits decision makers, in the <$10MM Plan Asset Category. This was a great honor for both their client and the agency for far surpassing benchmarks of employee enrollment, particularly for the auto industry. Thomas Automotive Family’s HR director, Peggy Zembower, was honored during an awards banquet held in New York City.
Tom Muldoon, director of retirement services for L.R. Webber Associates, nominated Thomas Automotive Family for the award after working with Zembower and witnessing firsthand the difference she was making for her employees and their retirement plans. “The committee got it right,” said Muldoon. “Peggy takes the critical step of discussing the necessity of a retirement plan with each of their 200+ employees to ensure no one is left behind. While the plan is designed to produce action, Peggy engages in a caring manner that helps employees realize the value of the 401(k) plan.”
Recognizing the need for a better retirement savings solution, Zembower selected L.R. Webber as a trusted advisor. Muldoon suggested and set up an auto-enrollment program and Zembower used a personal approach to help encourage employees to save more.
Three years into the auto-enroll program 73% of Thomas Automotive Family employees are on track to retire at age 67 with at least 75% of their pre-retirement income and the plan’s 87% participation rate is well above the automotive industry average of 67%.
Thomas Automotive Family is a family owned car dealership that has been committed to providing reliable transportation to the motoring public since 1909.
LRW has helped employers implement long-term cost control and strategic plans for employee benefit and retirement programs since 1976. They also deliver practical and effective claims and coverage support services while providing administrative, record keeping and compliance services. L.R. Webber specializes in assisting clients in the financial services and health care industries. For more information about LRW, please visit www.lrwebber.com.