Karen Foster to Lead Retirement Plan Services at Teal, Becker & Chiaramonte, CPAs, P.C.
Teal, Becker & Chiaramonte, CPAs, P.C. (TBC) announced that Karen Foster, the long time Manager of Pension Operations with over 30 years of experience in retirement plan management and client services administration, will lead the Retirement Plan Services division as the new Director.
A former benefit plan consultant and record-keeper, Karen joined TBC in 2007. She is a graduate of University at Albany holding both a Master of Arts and a Bachelor of Science in Economics from the institution. She is an American Society of Pension Professionals and Actuaries (ASPPA) credentialed Qualified 401(k) Administrator and has a diverse background, having been formerly employed by an actuarial and benefit plan consulting firm, a bank trust department and an ERISA attorney. Her practice focuses on working with brokers and clients to determine the best type of plan for firms and maintaining contact with them to ensure that the plan continually meets their needs.
Managing Partner Jim Drislane announced the promotion. “Our clients and business partners have trusted in Karen for their retirement plan administration and consulting services immensely over her 10 plus years at TBC,” he said. “Karen contributes greatly toward the continued growth of our firm overall which is why we are extremely honored to have her lead the department.” Drislane said. “Since a properly designed plan also provides current tax benefits,” he continued, “Karen and her team play a significant role in helping shape our business clients’ financial plan in addition to providing a benefit that can serve to attract and retain their employees.”
In 2001, TBC officially founded its Pension Plan Administration division under the tutelage of Jim Wimmer. Six years later, Karen was a key hire for the division. Under Karen’s leadership, the division recruited several other retirement plan professionals each having more than 20 years in the industry. This dynamic team has significant experience in plan design, day-to-day plan administration, compliance, recordkeeping, and government filings necessary to meet all of TBC’s clients’ needs.
“I congratulate Karen on her promotion to lead this group to new heights,” said Jim Wimmer, who is stepping down as Director and retiring at the end of the year. “We have been preparing for this leadership change for several years and all of our clients already look to her as their ‘go-to’ contact at TBC which is why this transition will be seamless for client services.”
Wimmer, who celebrated his 20th year at TBC this past March, will retire at the end of the month. There are 85 full-time employees at TBC, all working out of one office location at 7 Washington Square in Albany. The Firm’s employment number is expected to increase even further with the addition of incoming new hires in 2018.