Few people deliberately choose to make a career in the 401(k) world, but for Holly Verdeyen it made perfect sense.
As a teenager, she watched her father, a lifelong railroad worker, see his pension plan erode through multiple mergers. Every time there was a consolidation, there were union negotiations and changes to his pension formula that were less favorable, she recalled.
Meanwhile, her mother who returned to work in a college cafeteria after her divorce, accumulated a comfortable nest egg by investing in her employer's 403(b) plan.
Ms. Verdeyen, partner and U.S. defined contribution and financial wellness leader at Mercer in Chicago, said she realized then how defined contribution plans could help workers, an experience that inspired her to seek a career in the field.
Her first job was with Barclays Global Investors, where she started as an administrative assistant on the condition that if she did good work she'd get promoted.
Ms. Verdeyen credits the woman who hired her, Peggy Caldwell, as her first sponsor. "She took a chance on me," she said. "She really did put her political capital on the line to help me advance."
Today, Ms. Verdeyen uses her voice to create a more inclusive retirement system for women and racially and ethnically diverse populations. She, for example, serves on the advisory council for the Women in Leadership Executive Program at George Washington University.
As U.S. defined contribution and financial wellness leader at Mercer, Ms. Verdeyen leads Mercer's group employer and pooled employer plan initiatives. She has direct responsibility for a revenue budget of more than $100 million annually, more than 1,100 DC client accounts and more than 4 million participants.
Mercer had $16.45 trillion in assets under advisement as of June 30.
