Rick Virgile

Experience

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  Mercer

  Jul 1982 - Jun 1991

  Associate

  Consulting actuary for small and mid-size clients (all funding, legal and communication issues). Technical leader, supervising 5 employees, for large accounts.Prepared numerous training classes on actuarial topics and led career advancement task force.

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  Deloitte

  Jul 1991 - Sept 1995

  Senior Manager

  Consulting actuary for retirement and retiree medical/life insurance benefits. Due diligence team member for corporate acquisitions. FAS 106 and FAS 112 National Task Force member. Q-SERP designer, to maximize qualified retirement benefits for Highly-Compensated Employees (HCEs).

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  North Shore-LIJ Health System

  Oct 1995 - Sept 1999

  Director of Benefits & HRIS

  Supervise staff of 7 employees, for health system with over 40,000 employees and affiliates (union and non-union; for-profit and not-for-profit). Implement HRIS system (CA-HRISMA, similar to Peoplesoft); oversee data input and report output. Benchmark, design and administer all employee benefit and FMLA/leave programs (including defined benefit, retiree medical, qualified and non-qualified, union and non-union, for-profit and not-for-profit, voluntary and company-provided). Implement wellness programs to increase health/productivity and reduce cost. Negotiate with unions and vendors; prepare RFPs. Prepare and review all employee communications. Plan annual open enrollment and benefit fairs for all 3 shifts. Redesign all benefit plans, following North Shore merger with LIJ; generate over $10 million in annual savings. Implement Early Retirement Incentive Plan with 65% acceptance rate (reduced payroll $15 million). Show less

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  Aon Consulting

  Oct 1999 - Jun 2010

  Vice President

  Lead due diligence projects for dozens of corporate and private equity acquisitions (ranging in price from a few million to over $10 billion).Establish new benefit programs or integrate acquired company into the new parent company.Benchmarked and redesigned company benefit plans to generate tens of millions in annual savings and purchase price reduction.Guided clients through the "minefields" of Healthcare reform and the Pension Protection Act.

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  EisnerAmper LLP

  Jul 2010 - Sept 2011

  Consulting Actuary (Contract Basis)
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  Sapa Extrusions - Hydro Aluminum (Norsk Hydro)

  Oct 2011 - Apr 2014

  Benefits Director & Actuary

  Oversee all aspects of employee benefit programs, including four defined benefit plans, multiple SERPs as well as a 401(k) Plan, FMLA, COBRA and retiree medical/life insurance. Spearhead merger of Hydro and Sapa benefits, including strategy/financial analysis, unification of benefits program, policies, and procedures. Draft all plan documents (with attorneys), SPDs and employee communications (e.g., Open enrollment, AFTAP statements, SARs). Prepare benefit calculations and annual statements. Respond to QDROs and queries from employees and HR staff – implemented 24-hour response rule. Implement Wellness programs to reduce medical plan cost and improve presenteeism. Review executive agreements for compliance and liability issues. Interface with various HR and payroll systems. Prepare RFPs for vendors and negotiate prices on contracts (in one case, reducing fees by 75% and another eliminating a $35,000 fee completely by taking work in-house). Assist with union negotiations (benefit-related issues). Prepare annual budgets and convert to IFRS accounting basis for Norway parent company (pension plans under IAS 19). Arrange ex-pat coverage for employees on long-term foreign assignment. Show less

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  Department of Homeland Security - U.S. Coast Guard

  Jun 2015 - now

  Chief Actuary

  Responsible for financial oversight of the $50 billion pension and retiree medical benefit programs.• Developed operating procedures, checklists and internal controls to ensure accuracy of financial results• Member of award-winning Blended Retirement System (BRS) team, implementing major legislative changes to military benefits • Actuary for Rapid Action Team created to improve financial reliability of Homeland Security agencies, in addition to Coast Guard