Executive Director, Plan Sponsor Council of America
J. M. (Jack) Towarnicky is a benefits attorney currently serving as Executive Director of the Plan Sponsor Council of America. Previously, Jack served for 35 years in human resources/benefits leadership and compliance roles at five different Fortune 500 firms.
Jack’s has a BBA-Business Economics, an MBA, a JD and an LLM-Employee Benefits (with honors) as well as the CEBS designation. He has served on the Department of Labor, Employee Benefits Security Administration’s ERISA Advisory Council and as a director for benefits trade associations (W@W, CEB, ABC, IFEBP).Jack’s GREGORC© style is: “Practical Dreamer”. He, his team and his organizations have won national recognition including the 2010 National Business Group on Health, Healthy Lifestyles, Platinum; the 2009 C. Everett Koop Health Project Award; the 2009 Plan Sponsor Magazine, Corporate Plan Sponsor of the Year; 2008 Business Insurance Magazine Benefits Manager of the Year; and 2009 CFED Innovative Idea Champion.
Back in the Great Recession of 2008-2009, participants experienced a dramatic stock market decline. The S&P 500 index had a “peak-to-trough” decline of 51 percent! Coincidentally, many retirees and near-retirees were gaining their initial experience with something called a Qualified Default Investment Alternative (QDIA). The QDIA is a “safe harbor” (Department of Labor Regulation 29…