Carmela Elco, AIF®
Managing Director, Senior ERISA Consultant
Carmela Elco is a Managing Director and Senior ERISA Consultant with Blue Prairie Group who enjoys working with clients to help them comply with ever-changing rules and regulations, work through complex and sensitive retirement plan mergers, build thoughtful and responsible defined benefit replacement plans, monitor investments and help them understand the challenges and available opportunities to build an effective and competitive program. She has hands-on experience with multiple plan consolidations, employee communication and administration from a plan sponsor perspective.
Carmela began her career with RESOURCES for Retirement as Vice President of Client Services where she was responsible for investment advisory services working closes with clients to make certain they received the best service available to meet their specific needs. She then became President of RESOURCES for Retirement, and led the firm with the same dedication to superior client service that she had in her previous role.
In 2008, Ms. Elco testified before the U.S. Department of Labor’s ERISA Advisory Council on the topic of Target Date Fund analysis. The council is charged with providing advice and policy recommendations on retirement security and other employee benefit issues to the Secretary of Labor. Ms. Elco’s testimony, along with other nationally recognized industry leaders, was used to craft DOL recommendations on best practices for plan sponsors on the evaluation and analysis of target date funds within company sponsored retirement plans.
Carmela has extensive training as a human resources professional as well as in investment analytics. She is a graduate of the University of Pittsburgh and holds an M.A. in Human Resources Management from St. Francis University. She has her Series 63 and 65, Pennsylvania Health Insurance Representative Registrations and has obtained her Accredited Investment Fiduciary (AIF®) designation from the Foundation of Fiduciary Studies. She is a member of the Greater Philadelphia Senior Executive Group (GPSEG), a membership association of select leaders from a diverse range of industries and business backgrounds. In 2015 she was named as one of the Top Women Advisors in the country by the National Association of Plan Advisors (NAPA).