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Balancing Employee and Employer Goals in Your 401(k) Plan
Guest: Hugh O'Toole
Should there be a balance between employee and employer goals in a 401(k) retirement plan? This was a powerful statement and one that I felt employers could benefit from learning more about. This episode provides data and specific strategies on how and why everyone can benefit when their goals are aligned. My guest is Hugh O’Toole, President and founder of the Viability Advisory Group. During our conversation you will hear several unique insights and examples of the interplay between healthcare, wages, risk management and employee engagement as the main drivers of both employer and employee financial wellness.
Guest Bio
Hugh O’Toole is Senior Vice President of the Viability Advisory Group, responsible for directing and promoting the firm’s efforts to quantify the value of helping employers and employees make the most of their retirement and other employee benefits.
O’Toole has an established track record as a disruptor in the retirement plans and benefits marketplaces. After founding Viability in 2014, O’Toole then joined MassMutual in 2015 when the insurer acquired the assets of his firm.
Previously, O’Toole headed distribution and relationship management for MassMutual for seven years, when the insurer more than doubled its retirement plan assets under management. MassMutual then doubled its assets again when O’Toole helped lead the acquisition of The Hartford’s Retirement Plans unit in 2013.
Before joining MassMutual, O’Toole led Principal Financial Group’s growth in the nonprofit and worksite insurance markets. He joined Principal after the insurer purchased his firm, Professional Pensions, Inc., which disrupted the nonprofit retirement plans market by making available lower-cost investment offerings previously available only to corporate retirement plans.
O’Toole graduated from the State University of New York in Oneonta with a BS in psychology. He is a Registered Principal.
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Firm Profile
The mission of the Viability Advisory Group is to protect employer viability by having employees protect their families and become financially well.
They have developed a patent-pending analysis program to help companies evaluate the financial costs associated with their employees being unprepared for retirement and the loss of productivity attributed to employees’ lack of financial security.
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