Laura A. Dempsey, CEBS

Painted Post, NY *****

Home: 607-***-**** Email: abl5pv@r.postjobfree.com

Cell: 607-***-**** Profile: http:/www.linkedin.com/in/dempseyla

PROFESSIONAL PROFILE

A seasoned benefits professional with strong strategic benefits design, analysis, and

communication skills. An independent, forward thinker who considers both conventional,

accepted answers and creative “out of the box” alternatives. Viewed as a Subject Matter Expert

(SME) with the ability to effectively manage complex and multiple projects; assess employee,

company and financial impact of changes with a strong attention to detail and compliance

needs; and communicates change in an employee friendly manner. Hands on experience with:

Acquisitions & Divestitures Compliance Management HRMS Implementations

Benefit Plan Design & Analysis Employee Communications Retirement Plans

Compensation Analysis Health & Welfare Plans Union Negotiations

PROFESSIONAL EXPERIENCE

WORLD KITCHEN, Corning, New York 1999 - 2010

Formerly Corning Consumer Products, maker of Corelle, Corningware, Pyrex.

Sr. Project Manager, Employee Benefits 2003 - 2010

Provided internal benefits consulting and project management for corporate wide benefit design,

compliance and administrative systems, with primary focus on defined benefit and defined contribution

plans. Key member of union negotiation team, and lead compensation/benefits contributor before,

during and upon emergence from bankruptcy, including an agreement with PBGC. Lead on union and

benefits related due diligence activities associated with potential sale of company. Key

accomplishments:

• Consolidated and communicated 15 defined benefit plans into one plan and one record keeper.

• Converted and communicated 5 defined contribution plans into one plan and one record keeper.

• Sunset of former Company stock within 401(k) plan.

• Negotiated the freeze of defined benefit plans for three union facilities, reducing annual FAS 87

expenses by more than $2.4M.

• Negotiated the elimination of Rx for grandfathered post 65 union retirees for two union facilities,

resulting in $1.5M annual expense savings.

• Negotiated the elimination of post retirement medical for one union facility, and a cap on company

costs for two other union facilities.

• Analyzed and recommended changes due to Medicare D resulting in an immediate reduction of

$18.0M liability. Changes included:

o Redesign of the over 65 medical plan for remaining retirees (union and non union)

o Elimination of drug coverage for non union retirees

o Elimination of medical coverage for retirees of a closed union facility.

LAURA A. DEMPSEY Page 2

Manager, Employee Benefits 1999 - 2002

Managed overall benefits function; including benefits design, communication, compliance and

administration for newly formed company divested from Corning Inc. which shortly thereafter acquired 2

companies. Benefits included 15-defined benefit plans, 5-401k plans, and more than 25 different health

& welfare plans, covering 3500 union/non union employees, 1500 store temporaries and 500 retirees.

Managed staff of 2 exempts. Key accomplishments:

• Converted medical claims administration from internal Corning Inc. systems to new

administrator.

• Designed focus group materials to facilitate design of a standard benefits package for 3 merged

companies.

• Converted outsourced benefits administration from one vendor to another.

• Consolidated 25+ health and welfare vendors to 7 through RFP process.

• Designed, implemented and communicated complete new non-union health and welfare and

retirement programs including adoption of 100% defined contribution retirement platform and

elimination of post-retirement benefits.

• Supported 10 union negotiations with benefit analysis and recommendations, including the closing

of three facilities, and redesign of medical and defined contribution benefits.

BAUSCH & LOMB, Rochester, New York 1987 - 1999

Senior Corporate Compensation & Benefits Analyst

Provided internal compensation and benefits consulting and project management for corporate wide

compensation programs, benefit design, compliance and administrative systems. Benefits included

executive non-qualified programs and perks, Section 125, defined benefit and 401k plans, covering

7000 actives and 4000 retirees. Benefits contact for all due diligence associated with mergers and

acquisitions (~15). Key responsibilities and accomplishments:

• Developed, maintained and monitored benefits participation and demographic data.

• Modeled benefit design alternatives and assessed financial, compliance and demographic impact.

• Project managed all benefit changes including employee communications and internal/external

administrative requirements, particularly as related to acquisitions and divestitures.

• Received presidential recognition for combining 3 companies’ benefits into one uniform platform,

including the redesign of a defined benefit plan into a cash balance plan.

• Designed and developed a combined global incentive (EVA) and stock administration system which

provided all statements in local currency, rolled up to US$ for Corporate approval and resulted in a

Presidents’ Award nomination by the Corporate Treasurer.

• Analyzed domestic exempt and executive total compensation.

• Implemented mechanisms for ERISA, IRC, FAS 106 and other regulatory compliance.

• Produced/distributed regulatory disclosures including 5500s, SPDs & Summary Annual Reports.

• Coordinated controlled group requirements and related plan termination/start-ups.

• Designed, developed and converted internal administrative benefits systems, including team review

and recommendation of new corporate wide HRIS system.

• Coordinated compliance, HRIS and vendor changes related to divestitures and acquisitions.

EDUCATION PROFESSIONAL CREDENTIALS

Bachelor of Science, Industrial & Labor Relations Certified Employee Benefits Specialist

Cornell University, Ithaca, New York University of Pennsylvania & International Foundation of

Employee Benefits

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