PLANSPONSOR - February/March 2018 - 64

PROFILE
In the Beginning
" I
remember it all too well, " says
Charles Ruffel, fondly. More familiarly
known as Charlie, our publication's
founder laughs and says, " We saw
a niche that obviously mattered but was
starved of information, so we started a
magazine and called it PLANSPONSOR.
A lot of people hardly knew what a plan
sponsor was-it was more a technical
term then-but we liked the focus. " It is
still a term that is used by those on the
provider, investment management and
vendor side of the industry without question,
but often the actual plan sponsors
are unaware this is technically their role.
Twenty-five years ago was a complex
time to launch a magazine focused on
pensions and on the employer-sponsored
plan market, Ruffel says. Traditional
corporate pensions were still strong at
many companies, but defined contribution
(DC) plans were mushrooming, and
DB investment committees were suddenly
interested in best practices. Because of his
background in pension plans, and interest
in global finance, Ruffel leaned heavily
on concerns relating to global corporate
pensions, alongside the challenges facing
pension plan sponsors, for the first few
issues of PLANSPONSOR.
But there was an opportunity to do
something more, and Ruffel has always
" We saw a niche
that obviously
mattered but
was starved of
information,
so we started
a magazine. "
The founder of PLANSPONSOR discusses what led to its creation
importance of DC plans early on made it
a leader in the industry and helped Ruffel
become an influential authority on the key
issues and emerging trends affecting institutional
retirement plans-DC and DB.
When you talk to those in any area of
the industry, mention of Ruffel draws high
praise and regard. He is known to many
as a mentor, a leader and a friend-each
person has at least one " Charlie story " of
how Ruffel helped him in his career or
connected him with someone else.
Upon reflection, it may seem an
interesting career path for this immigrant
entrepreneur, raised in South Africa,
who received an M.A. in history from the
University of Cambridge in England and
an M.S. in journalism from Columbia
Charlie Ruffel, founder,
PLANSPONSOR
had an interest in seeking out uncharted
territories-whether with fly rod and reel
in his unyielding desire to fish, or in business,
wanting to be ahead of the trends.
Although he says he " barely knew
what a 401(k) was, " Ruffel did know there
was a need to include the topic in his new
publication. Defined contribution plans-
specifically 401(k)s-were at a crossroads
of sorts, with many across the industry-
at providers, as well as a handful of major
plan sponsors-being " converts " near the
start, he notes. He developed a core group
of eight or nine plan sponsors with whom
he became close and relied on their insight
to help him and his editorial staff with
this new area of the business. The turning
point of recognizing the potential influence
and staying power of 401(k) plans,
Ruffel says, was about four or five issues
into the publication.
PLANSPONSOR's recognition of the
64 PLANSPONSOR.com February-March 2018 Art by Chris Buzelli
University in New York. But, Ruffel says,
" it was an easy sell to develop a passion for
the subject of pensions and the employersponsored
retirement plan industry, as it
was such a pressing societal imperative, "
he says. " Americans, for the most part, save
only through workplace-sponsored plans.
There was an obvious need to get this
right, and the more sunlight we brought to
bear on the topic, the better would be the
outcomes for all involved. "
Perhaps this passion, and respect for
those who serve as plan sponsors, is best
evidenced by his own words from that
inaugural 1993 issue: " Plan sponsors hold
the key to society's dignity because they
protect life after work by ensuring postretirement
financial security and health.
They secure the future for all of us. "
Today, he observes, " The DC industry
in particular still gets flack for what some
see as its shortcomings. The reality is,
by the most unrealistic of standards, it
has been a real success in helping how
American workers retire, and the role of
plan sponsors in designing the programs
has been crucial. " -Alison Cooke Mintzer
http://www.PLANSPONSOR.com
PLANSPONSOR - February/March 2018

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