ANTHONY S. DELFINO, CHAIRMAN OF THE BOARD Mr. Delfino, a principal in the firm, has worked continuously in the field of pensions since 1959. He worked with a large national firm through 1969 and operated his own company, Deferred Compensations Administrators through 1987. After the sale of Deferred Compensations Administrators, Mr. Delfino continued to manage the company as its Chief Executive Officer for three years. In 1990 Mr. Delfino formed Benefit Planning, Inc. as its President and currently acts as Chairman of the Board. He is a member of numerous pension organizations and has spoken over the years to a large number of professional and business groups on retirement matters ranging from plan design to post-retirement individual tax strategies. He is a graduate of Loyola Marymount University with a bachelors degree in English.

RICHARD L. KAPLAN, C.P.A., A.P.A., Q.P.A., CHIEF EXECUTIVE OFFICER
Mr. Kaplan, a principal in the firm, established his own pension consulting firm in October of 1975. In 1987, his firm was acquired by Integrated Financial, a subsidiary of IDS/American Express where Mr. Kaplan served as Vice President of Qualified Plan Marketing until joining Benefit Planning, Inc. in January of 1991. Mr. Kaplan is a member and/or associate member of numerous professional organizations related to public accounting and the pension field, including the American Institute of CPA's, California Society of CPA's, National Institute of Pension Administrators, American Society of Pension Actuaries and the Western Pension and Benefits Conference. In addition, Mr. Kaplan has lectured on pension planning for the UCLA paralegal program, American College of Chartered Life Underwriters, the National Tax Advisors Association and various CPA societies. He graduated from the University of Southern California with a bachelors degree in accounting.

JAY S. LORENTSON, M.S.P.A., E.A., SENIOR ACTUARY
Mr. Lorentson has approximately 20 years of experience in the actuarial and pension consulting field. His experience includes many years with a nationally recognized employee benefits firm specializing in providing actuarial services to medium and larger companies. More recently, his experience has been as a pension consultant to smaller businesses, specializing in plan design, record keeping and actuarial services. He has frequently been engaged by other local pension firms to provide training, technical support and actuarial services for their employees and clients. Mr. Lorentson is a Member of the American Society of Pension Actuaries and is an Enrolled Actuary under ERISA. He graduated from the University of Central Connecticut with a bachelor's degree in mathematics.

GUY J. HOCKER III, ESQ.
In addition to his position as Chief Operating Officer, Mr. Hocker is a Consultant and relationship manager for new clients, assisting in plan design and implementation. One key role is keeping abreast of legal developments affecting our clients. Mr. Hocker is affiliated with both the American Society of Pension Actuaries (ASPA) and the National Institute of Pension Administrators (NIPA), ensuring that current technical advice and best practices are in place for our clientele. Mr. Hocker graduated from the University of California at Berkeley with a degree in Business Administration. He received his J.D. from William Howard Taft University and was admitted to the California Bar in 1994.