VENICE, FL— John L. Tufaro has joined Caldwell Trust Company as its Retirement Plan Specialist, reports R. G. "Kelly" Caldwell, Jr., President. “John brings a wealth of experience,” Caldwell says. “His in-depth knowledge of 401(k)s and other retirement instruments allows us to greatly expand services for our clients in this all-important area. His experience also permits Caldwell Trust Company to offer a new service, a complimentary retirement plan analysis for companies and organizations, to help them review the retirement programs they already have in place.”
Tufaro brings 40 years of experience to his new position, primarily in 401k record-keeping/administration, retirement services and trust administration. Most recently, he had provided consulting services to Caldwell Trust Company. “We were so pleased with the results that we asked John to join our company,” Caldwell says.
Tufaro says he joined Caldwell Trust Company because “it reminds me of the way trust companies used to be. We are strong because we stay within our core competencies rather than trying to be everything to everybody.” He explains his passion for retirement planning: “We need to look out for the employees. We encounter people of all ages who have not taken full advantage of their company retirement programs and have done little or no planning for retirement. We have an obligation to help them achieve their goals.”
The complimentary retirement plan analysis—available to a limited number of for-profit and not-for-profit companies each month—is one way Caldwell Trust Company is doing this. “We evaluate the cost of maintaining and administering these retirement plans, including the hidden fees paid out of fund expenses, especially where plans have annuity contracts,” Tufaro says. “As part of the analysis, we help the company’s plan sponsor better understand his or her duties as a fiduciary, since so many of these plans are ‘self-trusteed.’”
Tufaro began his career in 1967 with Bankers Trust Company in New York City and advanced to the level of vice president before departing in 1985. He then worked for other respected trust companies in New York until 1994, when he relocated to Atlanta, GA, where he served as senior vice president for major financial companies in Atlanta including NationsBank and SouthTrust. His last position before joining Caldwell Trust Company was as director/manager of Buck Consultants Executive Benefits Administration, where he guided the business to over 200 percent growth in five years.
While in Atlanta, Tufaro bought a second home in Venice, FL. In 2006, after seven years of two-state living, his family decided to make Florida their permanent home and John forged a relationship with Caldwell Trust Company.
Turfaro attended Queensborough College in New York City and is a member of the American Institute of Banking.
Caldwell Trust Company, West Florida’s largest independent trust company, has more than $430 million in assets under management. Chartered in Florida in November 1993, the company provides its clients with comprehensive, family-oriented trust and financial management services that emphasize personal attention to family needs and goals. It also provides comprehensive employee retirement services to companies with retirement programs such as 401k and pension plans. Caldwell Trust Company is headquartered in Venice, with additional offices in Sarasota and Punta Gorda, Florida.