Mr. Schaefer is founder and principal of 401(K) Ventures in Palo Alto, California. 401(K) Ventures is an independent investment education and consulting firm that advises on plan investments and provides educational programs to help employees improve their investment returns. He has been mentioned in articles on 401(k) plans in the New York Times, The Wall Street Journal, Institutional Investor, Forbes and Time. Prior to forming 401(K) Ventures in 1992, Mr. Schaefer spent 14 years as vice president and portfolio manager with the global investment management firm Bailard Biehl & Kaiser (now known as Bailard), where he managed the investments of select individuals and pension and profit-sharing plans. In addition to his work with BB&K, Mr. Schaefer is also a co-founder and former director of the Burlingame Bank & Trust in Burlingame, California. He is a graduate of the University of California at Berkeley.