ESOP Services

Blue Ridge ESOP by the Numbers

Founded in 1988, we are the largest independent ESOP third party administration and recordkeeping firm in the country

• 1,500 Active ESOP Plans
• 76,000 Plan Participants
• $51 Billion of Assets Under Administration
• 120 Trained ESOP Associates
• 94% Client Retention Rate
• 23 of the TOP Majority Owned 100 ESOPs in the Country
• ·1,900 Years Combined ESOP Experience

Tom Roback, Jr., CEP, QKA

With over 34 years of experience in the accounting, investment, and Employee Stock Ownership Plan (ESOP) industries, Thomas Roback, Jr. serves as the President of Sales for ESOP at Blue Ridge. In this role, he leads the Business Development Team, overseeing strategy and execution to drive growth and enhance client satisfaction.

At Blue Ridge, Tom identifies and pursues new business opportunities to expand our portfolio of business, ensures effective outreach and engagement with potential and existing clients, and collaborates with clients to offer strategic insights and recommendations on ESOP, 401(k), and equity compensation matters.

Tom’s expertise in ESOP and equity compensation administration positions him as a trusted advisor within the industry. He is a Qualified 401(k) Administrator (QKA) and a Certified Equity Professional (CEP). Previously, he served as Chair on the Board of Directors for the National Center for Employee Ownership (NCEO) and is currently the Vice President-Membership for the ESOP Association’s Mid-Atlantic Carolinas Chapter. He has also contributed to the Central Virginia Employee Benefits Council (CVEBC) for four years.

Before joining Blue Ridge, Tom was instrumental in advising companies on employee ownership as the head of the stock plan services practice at Friedman, Billings, Ramsey & Co. His prior experience includes serving as a captive broker for a large employer and working as a financial advisor at Legg Mason.

Tom earned his Master of Business Administration from the University of Baltimore and a Bachelor of Science in Accounting from the College of William and Mary. He is a member of several industry associations, including the ESOP Association, ASPPA, Employee-Owned S Corporations of America, Exit Planning Exchange, and NCEO. Tom’s comprehensive background and leadership in the field make him a key asset to Blue Ridge and its clients.

Scott Freund, QPA, QKA

With nearly 30 years of experience in ESOP administration, Scott J. Freund is a recognized leader in the industry. As the Senior Vice President of ESOP Plan Administration Services at Blue Ridge, he oversees the ESOP Plan Administration operations team and ESOP Client Care team to ensure the delivery of best-in-class services to our ESOP clients. His commitment to excellence is evident in his focus on timely and accurate service, staff development, and client consulting.

Scott began his career in ESOP administration in 1995 and has since held management roles in the industry with a notable service provider before joining Blue Ridge. He is dedicated to fostering a supportive environment for his team, ensuring they are equipped to meet and exceed client expectations while maintaining the highest quality standards in service delivery.

He earned his Bachelor of Business Administration with an emphasis on Accounting from the University of Wisconsin-Oshkosh in 1994. Scott holds the Qualified Pension Administrator (QPA) and Qualified 401(k) Plan Consultant (QKA) certifications from the American Society of Pension Professionals & Actuaries (ASPPA).

An active member of The ESOP Association and the National Center for Employee Ownership, Scott has served on the ESOP Association Advisory Committee on Administration for over ten years. He is also a frequent speaker at local, regional, and national conferences, sharing his extensive knowledge and insights on ESOP-related topics.

Residing in Appleton, Wisconsin, with his wife Lisa and their two daughters, Allison and Abbie, Scott enjoys golf and is a passionate Green Bay Packers fan. His personal interests reflect his commitment to family and community, making him a well-rounded leader in the ESOP administration field.

Pete Shuler

With nearly 30 years of experience in the Employee Stock Ownership Plan (ESOP) industry, Pete Shuler co-leads the ESOP consulting practice at Blue Ridge. His extensive expertise encompasses all facets of ESOP administration and compliance, making him a trusted advisor for clients navigating the complexities of ESOP-related transactions.

In his role, Pete oversees the consulting team, ensuring that all projects align with regulatory requirements and client objectives. His key responsibilities include managing pre-transaction compliance and benefit level projections, fostering relationships with investment banks and other stakeholders involved in ESOP transactions, and mentoring the next generation of consultants within the firm.

Before joining Blue Ridge, Pete built a solid foundation in ESOP consulting, gaining valuable insights and skills that he brings to his current role. He holds a Bachelor of Business Administration in Finance from the University of Notre Dame.

In addition to his consulting work, Pete is an active speaker and writer on technical ESOP topics, contributing to the knowledge base of the industry. He is also involved with several professional associations and boards, further solidifying his commitment to the ESOP community.

Kevin Rusch

Kevin Rusch has over 20 years of experience providing administration and consulting advice to ESOP clients. He is a CPA, as well as a QPA. Mr. Rusch is a member of The ESOP Association’s Administration Advisory Committee and is a frequent speaker on ESOP administration topics for both The ESOP Association and the NCEO. He works with plan sponsors, accountants, advisors, and legal counsel to provide guidance on plan design, repurchase obligation studies, compliance, and operation. He is a member of the ESOP Association, ASPPA, and the NCEO. He has served as the Subject Matter Expert on ESOPs for ASPPA’s Education and Examination Committee. Mr. Rusch received his Bachelor of Business Administration in Accounting from the University of Wisconsin-Madison.

Sara Smith

Sara Smith is the Director of Operations for ESOP Services at Blue Ridge, where she plays a crucial role in ensuring that day-to-day activities related to ESOP plan administration are executed effectively and efficiently. Her commitment to delivering high-quality work aligns with the company’s mission to meet and exceed client needs and expectations.

In her role, Sara is responsible for overseeing the daily operations of ESOP delivery fulfillment, managing the customer service center, and processing benefit payments. Her leadership ensures that all processes run smoothly, enabling the team to provide exceptional service to clients.

Before joining Blue Ridge, Sara worked in marketing data analytics within the software industry, bringing a unique perspective to her role in the retirement sector. She has over 7 years of experience in the retirement industry, where she has excelled as both an ESOP and 401(k) Plan Administrator. In these positions, she managed training and career development for entry-level ESOP plan administration hires, fostering growth and excellence within her team.

Sara holds a Bachelor of Arts in Economics (2004) and a Bachelor of Arts in Music (2003) from the University of North Carolina at Greensboro. Her diverse educational background compliments her analytical skills and passion for operational excellence.

Barbara Clough, QPA, QKC, QKA

Barbara Clough is a Managing Director at Blue Ridge ESOP Associates, where she specializes in ESOP design, implementation, administration, and consulting. With over 25 years of experience in the employee benefits and ESOP industries, Barbara has a deep understanding of the complexities involved in managing ESOP companies, C & S corporations, and advising clients ranging from small businesses with 20 employees to large enterprises with up to 30,000 employees. Her technical expertise includes navigating tricky administration and compliance issues, with particular focus on §409(p) testing and distribution policy design.

At Blue Ridge, Barbara plays a key role in training and mentoring associates for promotion to ESOP Administrator positions, while also guiding her team on complex technical and compliance matters. As an ERISA expert, she ensures adherence to Code Section compliance and provides strategic guidance to clients on plan design, legal matters, and IRS & DOL inquiries. She is known for her thorough review of plans to ensure accuracy and technical compliance.

Barbara holds a Bachelor of Science degree in Chemistry from the University of Massachusetts, Dartmouth. She is a designated Qualified Pension Administrator (QPA), Qualified 401(k) Consultant (QKC), and Qualified 401(k) Administrator (QKA) from ASPPA, which reflects her expertise in retirement plan administration.

Barbara is an active member of several industry organizations, including The ESOP Association, NCEO, and ASPPA. She is a past Chairwoman of the ESOP Association’s Administration Advisory Committee and currently serves as an Executive Committee member of the ESOP Association’s Public Policy Council. Barbara is also the Vice President of Advocacy for the ESOP Association’s New England Chapter and has served as a board member for NCEO. She is a frequent speaker and author, sharing her knowledge and insights with industry professionals and organizations.

Randy Shrake, QKA

Randy Shrake is the Managing Director at Blue Ridge, bringing over 30 years of experience in the employee benefits industry, with a particular focus on Employee Stock Ownership Plans (ESOPs) for the past 24 years. At Blue Ridge, Randy is responsible for managing client relationships, consulting on the ongoing operations of retirement plans, and leading a team of administrators. He also actively participates in industry education, delivering presentations for organizations such as The ESOP Association and the National Center for Employee Ownership (NCEO).

Before joining Blue Ridge, Randy began his career in the retirement plan sector as an actuarial student, later transitioning into 401(k) plan management. He subsequently took on the administration of ESOPs at a small third-party firm, which marked the start of his deep involvement in the ESOP space.

Randy holds two bachelor’s degrees from Oregon State University—one in Economics (1989) and one in Mathematics (1994). He earned his Qualified 401(k) Administrator (QKA) certification from the American Society of Pension Professionals & Actuaries (ASPPA), underscoring his technical expertise in the retirement planning field.

In addition to his role at Blue Ridge, Randy is an active member of several industry associations, including ASPPA, The ESOP Association, and the NCEO. He resides in Colorado, where he continues to serve as a trusted advisor to clients and a thought leader in the employee benefits and ESOP industries.

Dolores Lawrence, CPA, QKA

Dolores Lawrence is a Senior Managing Director of Plan Administration at Blue Ridge ESOP Associates, where she brings over 30 years of experience in plan design, administration, and consulting services for ESOPs, KSOPs, and 401(k) plans. Dolores is a licensed CPA and holds the Qualified 401(k) Administrator (QKA) designation from the American Society of Pension Professionals and Actuaries (ASPPA). Her expertise spans the full range of retirement plan administration, from compliance to operational issues, with a particular focus on ESOP and KSOP plans.

At Blue Ridge, Dolores plays a critical role in reviewing ESOP, KSOP, and 401(k) plan work to ensure accuracy and compliance with regulatory standards. She consults with clients on plan design, regulatory compliance, and operational issues, helping them navigate complex plan administration challenges. Additionally, Dolores is heavily involved in staff training, ensuring her team is equipped with the knowledge and expertise to deliver high-quality service to clients.

Dolores earned her Bachelor of Business Administration (BBA) degree from the University of Texas. She is an active member of several industry organizations, including The ESOP Association, the National Center for Employee Ownership (NCEO), and ASPPA. She is also a past chair of The ESOP Association’s Advisory Committee on Plan Administration, where she continues to contribute her knowledge and leadership to the ESOP community.

With three decades of experience in the retirement plan industry, Dolores is a trusted advisor to clients and a respected leader in the ESOP and 401(k) administration field. Her commitment to excellence and her in-depth knowledge of plan compliance and design makes her a key asset to both Blue Ridge and the broader industry.