2016 Service Stars | Individual
Adam Sheridan
Getting participants engaged in their plans through effective communications
RECORDKEEPER EMPLOYER: TIAA
TENURE WITH COMPANY: Five years
BIO: Adam Sheridan has been with TIAA in Denver since 2011, working in both individual participant counseling and then as a senior client services manager, serving TIAA’s institutional clients. He has a degree in finance from Metropolitan State University of Denver and is a Certified Financial Planner (CFP).
CLIENT: Central Community College
CLIENT INDUSTRY: Higher education
CLIENT HEADQUARTERS: Grand Island, Nebraska
CLIENT PLAN ASSETS: $105 million
CLIENT PLAN PARTICIPANTS: 403(b) defined contribution (DC) – 470 active participants (950 total);
403(b) tax deferred annuity (TDA) – 80 active participants (241 total);
457 – 10 participants
It is not always easy to get participants excited about saving for retirement, but Adam Sheridan’s recent work with Central Community College in Grand Island, Nebraska, has earned him the title of “rock star” from Angela Reynolds, the college’s human resources (HR) benefits manager. Central Community College has been working with TIAA since 1972. When Sheridan took over the account, it was noticed that a revenue-sharing credit was due to the plan’s participants dating back a few years.
“Their funds were generating more revenue than what was required for recordkeeping services,” says Sheridan, senior client services manager for TIAA in Denver. “There were questions about how the college wanted to deal with the extra money and what it can use it for. When Angela and I discussed the options, we decided it should be reallocated back to those employees who generated it, as a reimbursement of costs.”
His communication with the employees, however, was what particularly impressed Reynolds. “He made the revenue-sharing credit an exciting event for our participants rather than just another transaction,” she says. “TIAA is a big company, and there’s a standard form for doing this, but Adam and I did some legwork and came up with a communications plan for employees. He took it upon himself to give them tangible information, making it [understandable,] interesting and exciting.
He’s very big on customizing communication as it relates to people directly, and you can tell he loves what he does.”
That enthusiasm spills over in day-to-day interactions between Reynolds and Sheridan, who have been working together for about two years. When Sheridan started with Central Community College, “he immediately asked me how I like to communicate—what I was most comfortable with. He asked me what I preferred, and I told him email. So he made that his main form of communications.”
Both Reynolds and Sheridan are passionate about educating young professionals about the importance of saving for retirement. “That’s definitely a common bond; we’re young professionals, and we both feel other young people are not setting aside the money now that they need in order to have a successful retirement,” she says.
Recognizing this was an issue at Central Community College, Reynolds asked Sheridan to share more educational materials with this group—especially those who were contributing to their funds but not enough to receive an employer match. “We put together custom communications and encouraged them to grow their contributions so they’d get the match; about 20 people increased their contributions,” she says.
“Passionate,” in fact, is the word Sheridan uses to describe his approach to saving for retirement. “I love retirement planning, and I always try to make sure that clients can feel my passion for this business with every interaction,” he says. —Sue O’Keefe
“Their funds were generating more revenue than what was required for recordkeeping services,” says Sheridan, senior client services manager for TIAA in Denver. “There were questions about how the college wanted to deal with the extra money and what it can use it for. When Angela and I discussed the options, we decided it should be reallocated back to those employees who generated it, as a reimbursement of costs.”
His communication with the employees, however, was what particularly impressed Reynolds. “He made the revenue-sharing credit an exciting event for our participants rather than just another transaction,” she says. “TIAA is a big company, and there’s a standard form for doing this, but Adam and I did some legwork and came up with a communications plan for employees. He took it upon himself to give them tangible information, making it [understandable,] interesting and exciting.
He’s very big on customizing communication as it relates to people directly, and you can tell he loves what he does.”
That enthusiasm spills over in day-to-day interactions between Reynolds and Sheridan, who have been working together for about two years. When Sheridan started with Central Community College, “he immediately asked me how I like to communicate—what I was most comfortable with. He asked me what I preferred, and I told him email. So he made that his main form of communications.”
Both Reynolds and Sheridan are passionate about educating young professionals about the importance of saving for retirement. “That’s definitely a common bond; we’re young professionals, and we both feel other young people are not setting aside the money now that they need in order to have a successful retirement,” she says.
Recognizing this was an issue at Central Community College, Reynolds asked Sheridan to share more educational materials with this group—especially those who were contributing to their funds but not enough to receive an employer match. “We put together custom communications and encouraged them to grow their contributions so they’d get the match; about 20 people increased their contributions,” she says.
“Passionate,” in fact, is the word Sheridan uses to describe his approach to saving for retirement. “I love retirement planning, and I always try to make sure that clients can feel my passion for this business with every interaction,” he says. —Sue O’Keefe
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