NAGDCA Industry Roundtable
April 20-21, 2017 - Washington, DC
The Liaison Capitol Hill Hotel
415 New Jersey Avenue, NW, Washington, DC 20001
Room Rate: $249/night plus tax
For reservations click here or call toll free (888) 513-7445 and identify yourself as part of the NAGDCA Industry Roundtable meeting. You can also reference the following reservation ID: 419NAG.
The Industry Roundtable offers industry members a unique opportunity to meet and discuss important legislative and operational issues. The meeting is exclusively for industry members designed to address concerns specific to their needs. We have organized the agenda to provide our members the maximum amount of information and opportunity for creative participation, while at the same time limiting your time away from the office.
For questions regarding registration, please contact Crystal Trimble at firstname.lastname@example.org or (859) 402-9833. For questions regarding the agenda, please contact Heather Baber at email@example.com or 859-514-9161 for more information.
Industry Roundtable Discussion Groups:
Income Objectives - What are our options and how do we
sponsors have used numerous methods to try determine and define the success of
their plans. Whether account balance, participation and deferral rates,
asset allocation and/or expected participant income in retirement, no standard
measure or set of measures has been identified as a uniform objective for those
plans. The purpose of this roundtable is to discuss the latest efforts by plan
sponsors to come up with measurable objectives for their plans and frameworks
that may be useful for the industry to continue developing as a standard that
can work for plan sponsors across the country. Steven Montagna, NAGDCA
President will join the group to share his experiences and his perspective.
Auto vs. Engage - Where should we place
the emphasis - auto features or participant engagement?
As governmental plan
sponsors seek to facilitate dignified retirement outcomes for Plan
participants, the debate between how to best foster positive participant
behaviors is intensifying. Automatic features (e.g. enrollment, contribution
increases, and re-enrollment) have increased in popularity, especially in
corporate retirement plans, due to both demonstrated success and regulatory
clarity. Whether for reasons related to jurisdictional laws, the view that
Deferred Compensation plans are supplemental, or otherwise; government plans
have yet to achieve the take-up rates of these auto features that many of their
ERISA governed siblings have.
Auto features are partly
built on the behavioral finance concept of inertia, the notion that human
tendency is to avoid change, regardless of the sector of the economy which they
work in. We intend to have an in-depth discussion regarding the merits of auto
features in governmental retirement plans, as opposed to the more traditional
participant engagement approaches that many government plans continue to utilize.
Furthermore, if these auto features have merit to government plan sponsors and
participants, what are the roadblocks to implementation and what can NAGDCA do
to increase utilization of these features where appropriate?
DC Best Practices - Where can we form
consensus around best practices in DC plans?
The group’s main goal is to define what
standards to use in identifying a best practice – are there quantitative
metrics? Standards of prudence drawn from law? After a standard is defined, the
group will evaluate standards of success for DC plans. Candidates may include
items such as:
Serving a role as a supplemental DC plan to a DB plan
Serving as a primary retirement vehicle
Ensuring that vendors have adequate technology and
service at a reasonable cost
Ensuring that vendors and the plan have adequate
security and privacy protocols, and at a reasonable cost.
The objective will be to report to the
Board with respect to developing a best practices measurement standard for
NAGDCA, to eventually be used to state best practice threshold standards, and
measure success against those standards.