CMC is staffed by highly qualified senior actuaries and consultants. Our team members have dedicated their careers to serving the public sector, bringing unparalleled experience to our clients. With an average of more than 25 years of consulting experience, we can deliver the thought leadership, technical prowess, and superior service our clients deserve.

Our firm is led by Tom Cavanaugh and Ed Macdonald, both well-credentialed and nationally recognized actuaries. Both of our co-founders frequently write for publication (see Ideas & Insights) and are invited to testify before legislative bodies.

We believe that continuing education benefits not just our staff but also our clients. We support the ongoing education of our staff by providing study time for exams, bonus and salary increases for exams, and salary increases for actuarial credentials. CMC also sponsors attendance at educational conferences to give our consultants all the tools necessary to provide the best service possible to our clients.

PRINCIPALS

Thomas J. Cavanaugh FSA, FCA, EA, MAAA CEO and Co-Founder Tom is a highly skilled professional actuary and consultant who has worked in the defined benefit pension field since 1977. He is a recognized leader in the public sector benefits community and one of the co-founders of CMC. In the mid-1990s, Tom served as the CEO of a major competitor. Most recently, Tom served as the National Director of Governmental Services for another major competitor. Tom has a broad range of experience in deferred compensation consulting, actuarial audits, proposed legislation analysis, experience studies, retiree medical valuations, and the design, administration and funding of public retirement plans and health plans. Tom is an honors graduate of the United States Naval Academy where he earned a B.S. in applied mathematics. Tom also earned an M.B.A. from the University of Hartford with a focus on finance. Tom is a well-credentialed professional, having earned the following designations: Fellow, Society of Actuaries Enrolled Actuary under ERISA Member, American Academy of Actuaries Fellow, Conference of Consulting Actuaries Member of the Governmental Accounting Standards Board Pension Task Force and OPEB Task Force since inception Faculty member of the International Foundation of Employee Benefit Plans’ Certificate of Achievement in Public Plan Policy Past member of the International Foundation’s Public Employee Board Past member of the American Academy of Actuaries’ Pension Accounting Committee and Government Relations Committee Edward A. Macdonald ASA, MAAA, FCA President and Co-Founder As one of our co-founders, Ed is a talented professional actuary and consultant with experience in the public sector benefits industry dating from 1986. Ed is a recognized leader in the public sector benefits community who contributes his advanced knowledge of pension and health and welfare benefit issues to our clients. Ed has a broad range of experience in proposed legislation analysis, actuarial audits, experience studies, retiree medical valuations, and the design, administration and funding of public retirement plans and health plans. Ed is a graduate of the New Jersey Institute of Technology where he earned a B.S. in computer science and informational science. During the course of his career, Ed has garnered the following designations: Associate of the Society of Actuaries Fellow, Conference of Consulting Actuaries Member, American Academy of Actuaries Member, Corporate Advisory Committee for the National Council on Teacher Retirement Frequent speaker at public sector conferences on a wide variety of issues Board Member, Community Newspaper Holdings, Inc. Former Board Member, Georgia Partnership for Excellence in Education Former member of the Task Force on Pension Portability for the National Council on Teacher Retirement Active in his community, having served as an adjunct professor of mathematics for students who needed remediation Alisa Bennett FSA, EA, MAAA, FCA Principal and Senior Actuary Alisa Bennett is a Principal and Senior Actuary at CMC. Alisa has consulted with governmental plans since 1990. Alisa is experienced in the preparation of annual valuations, proposed legislation pricing, actuarial audits, experience studies, special cost studies, health claims underwriting, and the design, administration, and funding of public retirement plans and health plans. She also consults with Medicare Part D plans about Attestations of Actuarial Equivalence, RDS application assistance, and general strategic advice. Alisa has extensive experience evaluating Other Post-Employment Benefits (OPEB). She has conducted initial evaluations under GASB Statements 43 and 45 for many local municipalities, counties and state-level plans and employers. In addition, she has helped many of these plans and employers develop strategies to manage their OPEB liability and expense. Alisa is a graduate of the University of Georgia where she earned a B.S. in mathematics. She also earned an M.A. in mathematics from the University of Georgia. Alisa is a well-credentialed professional and has earned the following designations: Fellow, Society of Actuaries Enrolled Actuary under ERISA Fellow, Conference of Consulting Actuaries Member, American Academy of Actuaries Jose Fernandez ASA, EA, MAAA, FCA Principal and Consulting Actuary Jose is a Principal and Consulting Actuary at CMC. Jose is a professional actuary who has consulted with clients in the public sector since 1980. Jose has a broad range of experience in the design, administration and funding of public retirement plans, proposed legislation analysis, experience studies, asset liability forecasts and actuarial audits. Jose has dedicated his career to providing high quality, timely service to clients. Over the last 15 years, Jose was responsible for managing benefits consulting services to clients for a major competitor. Jose is a graduate of St. Peter's College where he earned a B.S. in mathematics. He is bilingual in Spanish and often works with clients whose employees require communications in Spanish. Jose is a credentialed professional actuary with the following designations: Associate, Society of Actuaries Enrolled Actuary under ERISA Member, American Academy of Actuaries Fellow, Conference of Consulting Actuaries John Garrett, ASA, MAAA, FCA Principal and Consulting Actuary John Garrett is a Principal and Consulting Actuary with CMC. Since 1993, John has served as an actuarial consultant to numerous state and local government retirement systems. John’s expertise covers such areas as public plan consulting, valuations, plan design, legislative impact analysis, experience studies, asset/liability models, federal compliance and GASB issues, deferred retirement option plans (DROP), partial lump-sum options (PLOP), work after retirement (WAR), and retiree health care benefit plan design, valuations and funding strategies. John has spoken at regional and national forums such as the National Council on Teacher Retirement, the National Conference on Public Employee Retirement Systems, the Southern Conference on Teacher Retirement, the GFOA, Guns and Hoses, and the Texas Association of Public Employee Retirement Systems’ educational conferences. Associate, Society of Actuaries Member, American Academy of Actuaries Fellow, Conference of Consulting Actuaries Prior to beginning his career as an actuary, John served as an attack helicopter pilot in the U.S. Army. Todd Green, ASA, MAAA, FCA Principal and Senior Actuary Todd Green is a Principal and Senior Actuary at CMC. He has consulted with governmental plans since 1997. Todd has experience in the preparation of actuarial audits, annual valuations, financial disclosure information, proposed legislation pricing, experience studies, special cost studies, and assisting with GASB compliance requirements. Todd's robust consulting skills have enabled him to forge strong relationships with our clients. Todd is an expert in Florida statutes dealing with public pension plans. Todd is a graduate of Georgia State University where he earned a B.S. in mathematics with a concentration in actuarial science. Todd has earned the following designations: Associate of the Society of Actuaries Member, American Academy of Actuaries Fellow, Conference of Consulting Actuaries Edward Koebel EA, MAAA, FCA Principal and Senior Actuary Ed Koebel is a Principal and Senior Actuary at CMC. Since 1994, Ed has prepared annual valuations, experience studies, special cost studies, and retiree medical valuations. He is experienced in the design, administration and funding of retirement plans and health plans. Ed is a key member of our peer review team and his skill and dedication have earned him the trust of our clients. He devotes 100% of his time to client work. Ed is a graduate of Utica College of Syracuse University where he earned a B.A. in actuarial science. Ed's credentials include the following designations: Enrolled Actuary under ERISA Fellow, Conference of Consulting Actuaries Member, American Academy of Actuaries Catherine Turcot Principal and Managing Director Cathy is a Principal and Managing Director at CMC. Cathy has spent her entire career consulting with governmental plans. Since 1980, she has worked with clients on the preparation of annual valuations, proposed legislation pricing, experience studies, special cost studies, retiree medical valuations, and the design, administration and funding of public retirement plans and health plans. Cathy is a strong leader within our office and wins praise from our clients for her dedication to and knowledge of the public sector. She spends 100 percent of her time on client work. Cathy is a Cum Laude graduate of Oglethorpe University where she earned a B.S. in mathematics. SENIOR ACTUARIES AND SENIOR CONSULTANTS Eric Gary, FSA, MAAA, FCA Senior Actuary Eric is a Senior Actuary at CMC. Eric has worked in the insurance industry since 1991, with a focus in both actuarial and consulting disciplines. His background includes product development, pricing, reserving, financial analysis, administrative systems design and development, plan administration, and plan management. Eric has spent much of his career providing actuarial expertise and guidance on employee benefit plans and products. Eric has performed Other Post-Employment Benefits (OPEB) valuations for cities, counties, and states. Eric's work with OPEB clients includes claims cost development, data analysis, assumption setting, the development of valuation models, and both written and oral presentations of reports. Additionally, Eric has assisted in the development and pricing of healthcare products and insurance-based retirement products. Eric graduated from The Ohio State University with a B.S. degree in actuarial science. He is a credentialed professional actuary with the following designations: Fellow, Society of Actuaries Member, American Academy of Actuaries Fellow, Conference of Consulting Actuaries Mary Jean Nelson Senior Consultant Mary is a Senior Consultant at CMC. She began working in the actuarial field in 1987 and is proficient in the preparation of annual valuations, financial disclosure information, proposed legislation pricing, experience studies, special cost studies, summary plan descriptions, data audits and benefit computations, as well as in the design, administration and funding of retirement plans. Mary is a Summa Cum Laude graduate of Kennesaw State University where she earned a B.S. in mathematics. Micki Taylor, ASA, EA, MAAA Senior Actuary Micki Taylor is a Senior Actuary at CMC. Since 1992, she has prepared annual valuations, special cost studies, retiree medical valuations, and is experienced in the design, administration and funding of retirement plans and health plans. She devotes 100% of her time to client work. Micki is a Cum Laude graduate of the University of Georgia where she earned a B.S. in chemistry. She also earned a Master of Actuarial Science degree from Georgia State University. Micki’s credentials include the following designations: Associate, Society of Actuaries Enrolled Actuary under ERISA Member, American Academy of Actuaries CONSULTANT STAFF Dustin Borg Actuarial Analyst Dustin is an actuarial analyst at CMC. He has worked in the field since 2008 and consults on all aspects of actuarial valuations for pension and health plans. Dustin earned a B.E. (cum laude) in mechanical engineering and Spanish from Vanderbilt University. After college, he taught English in Japan as part of a Japanese government program. Dustin went on to earn an M.S. in finance at Vanderbilt University, where he gained experience with accounting, corporate finance, econometrics and risk management. Lorraine Bhawanie Consultant Lorraine Bhawanie is a Consultant with CMC. She performs all aspects of actuarial valuations for health plans. Lorraine has worked with pension plan and health valuations since 2001. She also has extensive experience with annual valuations, actuarial audits, experience studies and special cost studies. Lorraine attained a B.S. in Mathematics from Madonna University. Terence Bhawanie Consultant Terence Bhawanie is a Consultant with CMC. He performs all aspects of actuarial valuations for state and local governmental retirement plans. Terence has worked with public sector pension plan valuations since 2000. He also has extensive experience with retirement benefit and service purchase calculations, experience studies, projection studies, detailed gain/loss analysis, cost studies for proposed benefit enhancements and actuarial audits. Terence attained a B.S. in Applied Mathematics from York University in Toronto, Canada. Kristen Hahn Actuarial Analyst Kristen Hahn is an Actuarial Analyst with CMC, and has been consulting with public plans and employers since 2007. She works primarily in the Health and Group Benefits arena, and has expertise in GASB 43/45 OPEB valuations, setting reserves for Incurred but not Reported (IBNR) claims, Medicare Part D analysis and actuarial attestations, pharmacy claim audits, and other general health and group benefits related projects, such as budget projections and employee/retiree contribution strategies. Kristen is a graduate of Georgia State University, where she also earned her Masters in Actuarial Science. She is currently pursuing her Associateship in the Society of Actuaries. James Lochner Consultant James Lochner is a Consultant at CMC and has worked as an actuary since 1998. James is proficient in the preparation of actuarial valuations, financial disclosure information, the analysis and reconciliation of pension data, and the calculation of benefit computations. James often works hand-in-hand with client administrators to resolve data and pension valuation issues. James graduated from Boston University with a B.S. and earned his M.A. in actuarial science from Georgia State University. He also has completed Society of Actuaries Exams 1 and 2. Lacrecia Maddox Consultant Lacrecia Maddox is a Consultant at CMC who has served clients as an actuary since 1995. She is proficient in the preparation of data management, actuarial valuations, actuarial audits, financial disclosure information, liability development and special cost studies. Lacrecia's keen sense of project management and her mentoring of future actuarial associates make her an invaluable member of our team. Lacrecia grew up all over the world, even going to high school in Okinawa, Japan. She holds an Associate of Arts degree from Oxford College of Emory University. She attained both a B.S. in mathematics and a Masters in Applied Math from the University of Georgia. Lacrecia has completed Society of Actuaries Exam 1. Ben Mobley Senior Actuarial Analyst Ben Mobley is a Senior Actuarial Analyst at CMC and has worked in the field since 2007. He performs all aspects of actuarial valuations for both pension and health plans and is experienced in the preparation of financial disclosure information, the analysis and reconciliation of pension data, and the calculation of benefit computations. Prior to joining CMC, Ben taught statistics and also has experience collecting, organizing and analyzing data in both the manufacturing and research and development sectors. Ben's experience with data management and analysis is a valuable asset for CMC and its clients. Ben graduated from the University of Georgia, magna cum laude, with a B.S. in statistics. He holds a master's degree in math education from UGA. He also has completed Society of Actuaries Exams 1 and 2. Justin Slaughter Actuarial Analyst Justin Slaughter is an actuarial analyst at CMC and has worked in the actuarial field since 2007. He works primarily in the Health and Group Benefits arena, with a focus on GASB 43/45 OPEB valuations, setting reserves for Incurred but not Reported (IBNR) claims, Medicare Part D analyses and actuarial attestations, pharmacy claim audits, and other general health and group benefits related projects, such as budget projections and employee/retiree contribution strategies. In addition, Justin has experience in pricing, reserving and catastrophe modeling. Justin graduated from Berry College, with a B.S. in economics. He holds a master’s degree in statistics from the University of Georgia. He has completed Society of Actuaries Exams P, FM, MFE, and MLC. Randy Stinson Consultant Randy Stinson is a Consultant at CMC. Randy has consulted with governmental plans since 1997. He is experienced in the preparation of annual valuations, proposed legislation pricing, experience studies, projection studies, detailed gain/loss analysis, special cost studies and retirement benefit calculations. Randy has experience evaluating Other Post-Employment Benefits (OPEB). He has conducted initial evaluations under GASB Statements 43 and 45 for many local municipalities, counties and state-level plans and employers. In addition, he is experienced in the preparation of OPEB projection studies and plan design studies. Randy is a graduate of the University of Michigan where he earned a B.S. in actuarial mathematics. Dayna Waddell Actuarial Analyst Dayna Waddell is an actuarial analyst at CMC. She joined CMC in 2009 and consults on all aspects of actuarial valuations for pension and health plans. Prior to joining CMC, she was the Director of Operations for a major manufacturing company where she was the manager for all U.S. Operations. In that role, she gained valuable knowledge in accounting and customer relations. Dayna graduated magna cum laude from Berry College in 2005 with a B.S. in mathematics. Joey Walls Senior Actuarial Analyst Joey Walls is a Senior Actuarial Analyst at CMC and performs all aspects of actuarial valuations for both pension and health plans. Joey has worked with public sector pension plans since 1998. He has experience with annual valuations, special cost studies, data analysis, plan administration and benefit calculations. Joey's experience with state and local government retirement plans makes him a valuable resource to CMC and our clients. Joey attained a B.S. in mathematics from North Georgia College and State University. He also earned an M.B.A. from Georgia State University with a concentration in risk management and insurance. Kathi Caspar Office Manager Kathryn Caspar is the Office Manager at CMC. On a day-to-day basis, Kathi manages our vendor relationships, handles all correspondence, designs presentations, and generally is the voice you hear answer our main phone line. Kathi was previously the assistant manager of High Museum of Art gift shop. Before moving to the Atlanta area in 2000, she was the How-to Editor at Family Circle Magazine for 16 years. Her excellent writing and communication skills, plus a keen eye for detail, make her a valuable asset to our team. Kathi attended The School of Visual Arts in New York City and graduated with a Bachelor of Fine Arts degree. Kathi also has studied ancient Egyptian history and language at both NYU and the New School in NYC.