Thomas Automotive Family, a L.R. Webber Associates (LRW) retirement plan client, 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. Peggy Zembower, human resources (HR) director for Thomas Automotive Family received the honor during an awards banquet held in New York City.
Tom Muldoon, director of retirement services for LRW, 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.”
According to the PLANSPONSOR 2016 Defined Contribution Survey, the automotive dealership service industry has one of the lowest employee contributions to retirement plans. After the Thomas Automotive Family selected LRW as their retirement plan advisor, Zembower successfully raised their employee participation rate from 53% to 87%, which is well above the 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, recordkeeping and compliance services. LRW specializes in assisting clients in the financial services and health care industries. For more information about LRW, please visit www.lrwebber.com.
LRW is part of Leavitt Group and provides clients with greater insurance market access and a wide range of value-added services and resources. Clients receive employee benefits solutions, property and casualty insurance, risk management, and other services. Clients also benefit from the consultative approach to employee benefits and risk management found within the culture of each office and the unique flexibility that comes with local, on-the-ground agency owners. For more information about Leavitt Group, please visit www.leavitt.com.