The Gap

Episode Introduction - The Gap with Lisa Gomez A retirement plan can look like a line item on a pay stub until you’re the person without one. That’s where this conversation starts, and why it gets so real so fast. I’m joined by Lisa Gomez, a nationally recognized employee benefits leader and the former head of the Employee Benefits Security Administration at the U.S. Department of Labor, the agency responsible for protecting the workplace benefits of more than 150 million Americans.Episode DescriptionWe sit down with Lisa Gomez to talk about what the retirement industry gets right, where the real breakdowns still happen, and how we can close the retirement savings gap and coverage gap without falling into defeatism or victory laps.We dig into the practical reasons people don’t participate even when they have access to a 401(k) or workplace retirement plan: confusing communication, benefits that look good on paper but don’t solve day-to-day needs, and the emotional reality that money stress and mental health are tightly linked. Lisa pushes us to get out of the echo chamber and talk directly with workers and employers, especially the demographics that keep getting left behind, so we can design solutions that actually change behavior.We also explore what financial advisors can do best when they serve as a whole-person guide, not just an account manager. From there we zoom out to policy and infrastructure: responsible financial data sharing that supports holistic planning, clearer and more consistent ERISA fiduciary expectations across shifting investment debates, and the opportunity for small employers through PEPs, state programs, and underused tax credits. We close with a challenge to plan sponsors and advisors: schedule real plan design reviews, strengthen governance, and keep asking whether the plan is truly helping people build retirement security.If you found this helpful, subscribe, share it with a plan sponsor or advisor, and leave a review so more people can find the show. What’s the biggest obstacle you see to improving retirement readiness?Guest Bio:Lisa is the founding member of LMG Collaborative Consulting Solutions, a firm providing comprehensive public policy and other consulting services in all aspects of employee benefits, including compliance, plan administration, plan design, advocacy, communications, government agency engagement, and strategic planning. In this new chapter, Lisa seeks to partner with employers and other plan sponsors and administrators, labor organizations, service providers, and worker advocates and use her experience and voice to help them successfully achieve their goals. Lisa can also serve as a professional trustee or independent fiduciary, expert witness, arbitrator, or mediator. Lisa was nominated by President Joseph R. Biden as Assistant Secretary of Labor for Employee Benefits Security for the U.S. Department of Labor in July 2021 and was confirmed by the U.S. Senate in September 2022. She was sworn in by Secretary of Labor Martin J. Walsh on October 11, 2022, and served in that position until January 20, 2025. Previously, Lisa was a long-standing partner with the law firm Cohen, Weiss and Simon LLP, representing labor organizations and employee benefit plan sponsors and administrators, and the chair of the firm’s management committee. Contact Lisa M. Gomez:LMG Collaborative Consulting Solutionshttps://[email protected]: https://www.linkedin.com/in/gomezlisam/

Episode Introduction - The Gap with Lisa Gomez A retirement plan can look like a line item on a pay stub until you’re the person without one. That’s where this conversation starts, and why it gets so real so fast. I’m joined by Lisa Gomez, a nationally recognized employee benefits leader and the former head of the Employee Benefits Security Administration at the U.S. Department of Labor, the agency responsible for protecting the workplace benefits of more than 150 million Americans.Episode DescriptionLisa takes us through her journey from a working-class upbringing with limited access to employer benefits to nearly three decades as an ERISA and employee benefits attorney. We talk about what she learned advising plan sponsors across every kind of industry, and why that on-the-ground experience matters when regulators write retirement policy that has to work in the real world. If you care about retirement security, 401(k) access, fiduciary responsibility, and what it actually takes to help workers retire with dignity, her perspective is hard to beat.We also get into the moment she stepped into EBSA leadership during a period of major retirement policy evolution. Secure 2.0, ESG debates, lifetime income questions, and a constant drumbeat of stakeholder pressure all collided at once. Lisa explains how she thinks about collaboration versus enforcement, why “good actors” need support as much as bad actors need consequences, and what she’s most proud of that most people never notice.One of the biggest practical takeaways is communication: disclosures only matter if people can read them, understand them, and use them. We discuss why clearer disclosures can improve participant outcomes, strengthen accountability, and help close the retirement savings gap and retirement coverage gap over time.If Part 1 sparks questions for you, share it with a colleague and tell me what you want answered in Part 2. Subscribe, leave a review, and send this episode to someone who needs a clearer path to retirement security.Guest Bio:Lisa is the founding member of LMG Collaborative Consulting Solutions, a firm providing comprehensive public policy and other consulting services in all aspects of employee benefits, including compliance, plan administration, plan design, advocacy, communications, government agency engagement, and strategic planning. In this new chapter, Lisa seeks to partner with employers and other plan sponsors and administrators, labor organizations, service providers, and worker advocates and use her experience and voice to help them successfully achieve their goals. Lisa can also serve as a professional trustee or independent fiduciary, expert witness, arbitrator, or mediator. Lisa was nominated by President Joseph R. Biden as Assistant Secretary of Labor for Employee Benefits Security for the U.S. Department of Labor in July 2021 and was confirmed by the U.S. Senate in September 2022. She was sworn in by Secretary of Labor Martin J. Walsh on October 11, 2022, and served in that position until January 20, 2025. Previously, Lisa was a long-standing partner with the law firm Cohen, Weiss and Simon LLP, representing labor organizations and employee benefit plan sponsors and administrators, and the chair of the firm’s management committee. Contact Lisa M. Gomez:LMG Collaborative Consulting Solutionshttps://[email protected]: https://www.linkedin.com/in/gomezlisam/

Episode Introduction - The Gap with Toni WhaleyToday's episode of The Gap is one I've been really excited to record. If you listen to this podcast regularly, you know that while we spend a lot of time talking about the retirement savings gap and the coverage gap in America, we also make a point to recognize something that doesn't get enough attention. The private retirement system works and it has made a meaningful difference in millions of American lives. American workers are far more likely to save for retirement when they have access to a workplace plan and when education, confidence, and guidance are layered on top of that access, the impact can be life-changing.That's why I am thrilled to welcome today's guest, Toni Whaley. Toni is the co-founder and CEO of Paladin Advisor Group , a plan member financial center serving more than 3,500 clients across the greater Baltimore and Washington, D.C. area. With more than 20 years as a financial professional, Tony has dedicated her career to helping people, especially those who serve others, gain confidence, clarity, and peace of mind around their financial futures. Episode DescriptionWe trace Toni’s path from early uncertainty to leadership, uncovering the moments that reshaped her philosophy—like the day a client reframed “mad money” as real retirement money. That mindset shift powers Paladin’s education-first approach across educators, federal employees, nonprofits, and small businesses. Toni explains why adults learn best through relevant stories, bite-size concepts, and visible progress, and how that approach outperforms generic content and market noise. The takeaway: confidence and clarity are as valuable as any fund lineup.We also dive into Raise Her, a bold five-year movement to empower one million women with practical tools and a clear plan for every stage: early learning, informed decisions, consistent saving, and smart retirement spending. Toni shares how Raise Her removes barriers—student debt stress, time scarcity, fear of asking—and invites action through social settings and ready-to-use materials. Guest Bio: Toni Whaley2024 NTSA President and 2024 Marquis Who's Who Honoree, Toni E. Whaley is Co-Founder and CEO of Paladin Advisor Group, A PlanMember Financial Center. She has been a financial planner for over 20 years. Together with her husband Mike, she has grown Paladin Advisor Group to nine associate financial professionals, servicing several counties in the greater Baltimore and Washington DC area. Paladin services over 3,500 clients and manages over $290 million in client assets. Toni currently holds series 6, 65, 63 and life and health licenses; and a CRES – Certified Retired Education Specialist designation.  As a financial professional, Toni focuses on helping those who make it their mission to serve others. Her clients include education professionals and their spouses, Federal employees, and employees of for-profit and non-profit organizations as well as Small Business.  Helping people discover who they are, who they want to become and plan for their future is a major focus for Toni.  Toni belongs to the Howard County Chamber of Commerce, the National Association of Professional Women, the Financial Services Institute, and the Howard County Estate Planning Council. Paladin Advisor Group is listed as an A+ accredited company with the Better Business Bureau.Contact Toni:Here is the link for Rai$e Her: https://www.ntsa-net.org/education/rai$e-her/Toni Whaley: [email protected]

Episode Introduction - The Gap with Bonnie TreichelToday on The Gap, I'm excited to welcome Bonnie Treichel, a true leader and innovator in the retirement plan industry. Bonnie is the founder and chief solutions officer of Endeavor Retirement, where she focuses on simplifying retirement plan governance so advisors and plan sponsors can spend less time navigating complexity and more time helping participants save successfully for retirement. She is also a partner at Endeavor Law and brings a unique perspective as an ERISA attorney, former advisor, and plan sponsor. Bonnie is widely recognized for her thoughtful leadership on fiduciary responsibility and retirement plan governance. Episode DescriptionGovernance isn’t glamorous, but it’s the difference between a plan that hums and a plan that hijacks your week. We sit down with Bonnie Treichel —ERISA attorney, former advisor, and founder of Endeavor Retirement—to translate fiduciary responsibility into a simple, repeatable system you can actually run. From future‑proofing your investment policy statement to building a one‑page map of duties, Bonnie shows how clear roles, documentation, and cadence stop finger pointing and free up time to help participants save more.We dig into the risk spectrum behind real-world corrections, where legal black and white meets the gray of business judgment. You’ll hear how to right‑size best practices for a five‑person plan versus a 5,000‑person plan, what truly belongs in a committee charter, and why actionable education beats dense white papers. We also tackle today’s biggest pressure points—cybersecurity, privacy, missing participants, fee confusion—and outline practical steps for data mapping, vendor oversight, and secure workflows that meet DOL expectations without overwhelming your team. Training advisors to train sponsors scales good governance and raises outcomes across the system. With steady process in place, you can shift attention to participant engagement—re‑enrollment, smart defaults, timely nudges—and keep people invested through market noise. Bonnie also shares optimism about bipartisan momentum on coverage and the growing pipeline of next‑gen talent, plus a preview of her new book, Your Retirement Sketchbook, designed to make planning approachable and fun.Guest Bio Bonnie Treichel:Bonnie Treichel is the Founder and Chief Solutions Officer of Endeavor Retirement, a consulting firm dedicated to solving problems for plan sponsors, advisors and service providers in the retirement plan industry. Her unique experience as an ERISA attorney and advisor helps her bring governance solutions for day-to-day issues that are an inevitable part of running a successful retirement plan. Bonnie is also a Partner at Endeavor Law, a firm dedicated to supporting the ecosystem of financial services with their retirement plan-related decisions, documentation, compliance, regulation and litigation. As a thought leader on retirement plan governance issues, Bonnie has been quoted in publications such as The Wall Street Journal, InvestmentNews, 401(k) Specialist, Ignites, PlanAdviser, NAPA Net Daily, and Journal of Pension Benefits. She is an active member of the American Retirement Association and has served in various leadershiproles as well as the American Bar Association’s Tax Division where she is on the Lifetime Income Committee.  When she isn’t working on retirement plan issues, Bonnie enjoys traveling, spending time with her golden retrievers, Sadie and Sunny, running, riding her bike and volunteering for Make a Wish.Contact Bonnie:[email protected]://endeavor-retirement.com816-284-2180@btreichelesq

Episode Introduction - The Gap with Rachel FoxToday’s conversation is one I am really excited about, because it goes straight to the heart of what The Gap is all about—not just saving for retirement someday, but helping working Americans stay financially stable today so they can actually get there.I’m thrilled to welcome Rachel Fox to the podcast.Rachel is a seasoned leader in the employee benefits space with more than 23 years of experience helping employers support their workforce in meaningful, practical ways. For the past four years, she has led sales and partnerships at Sunny Day Fund, an out-of-plan Emergency Savings Account—or ESA—provider that helps employers turn financial wellness from a concept into something employees can actually use when life happens.Before joining Sunny Day Fund, Rachel spent nearly two decades running her own Aflac agency, where she consistently ranked among the top five district sales coordinators nationally—an achievement that speaks volumes about her leadership, her ability to build strong teams, and her deep understanding of what employees really need from their benefits. She also worked as a health broker, guiding employers through an increasingly complex benefits landscape and helping them make smart, people-focused decisions.What I love about Rachel—and what you’ll hear loud and clear today—is her passion. She truly believes that emergency savings are a missing link in closing both the financial stress gap and the retirement savings gap. Because when employees don’t have a cushion for unexpected expenses, retirement savings is often the first thing to suffer.Episode DescriptionA stronger retirement starts with steadier today money. That’s the core of our conversation with Rachel Fox, a veteran benefits leader who’s helping employers turn “financial wellness” into a real system: automated emergency savings that keep workers from raiding their 401(k)s when life hits. We dig into the data behind out-of-plan ESAs, why they reduce loans and hardships, and how smart design—balance-based incentives, payroll automation, and clear, inclusive communication—builds a durable first line of defense.Rachel traces the human stories behind the metrics: employees one event away from catastrophe, HR teams overwhelmed by loan requests, and the relief that comes when a car repair or deposit is covered without penalties or taxes. She explains why ESAs act as an on-ramp to retirement, increasing participation and contributions by making long-term saving feel possible. We also unpack the limits of PLESAs under SECURE 2.0 and why employers prefer out-of-plan flexibility that avoids ERISA complexity and allows meaningful employer contributions.Beyond the ledger, we connect financial stress to safety, focus, and retention. Rachel highlights a study of short-haul truckers showing an 87% drop in citations among ESA participants and shares how employers repurpose bonuses and underused budgets into savings multipliers. The takeaway is practical and hopeful: lead with systems, not lectures; make saving effortless; and let people save for both emergencies and aspirations so behavior sticks.If you care about reducing 401(k) leakage, improving benefits ROI, and helping workers move from survival to stability to growth, this conversation maps the path. Subscribe, share with a colleague who owns benefits strategy, and leave a review with one change you’d make to your company’s savings design.Guest Bio: Rachel FoxRachel Fox is a leader in the employee benefits space with 23 years of experience. For the past four years, she has led sales and partnerships at Sunny Day Fund, an out-of-plan Emergency Savings Account (ESA) provider that operationalizes financial wellness initiatives for workforces. Before joining Sunny Day Fund, Rachel spent nearly two decades running her own Aflac agency, where she consistently r