FOR IMMEDIATE RELEASE

Focus is on protecting and enhancing public sector defined contribution plans

Lexington, KY, May 5, 2024—The National Association of Government Defined Contribution Administrators today announced its 2024 legislative priorities. NAGDCA is the premier professional association for plan administrators and services providers of government-sponsored defined contribution retirement plans.

“As awareness of the necessity of DC plans to support the retirement readiness of public sector employees continues to grow, advocating for legislation impacting government DC plans continues to be among NAGDCA’s primary objectives,” said Matt Petersen, NAGDCA Executive Director. “Key among NAGDCA’s advocacy efforts is consistently reminding Congress that these plans are not subject to ERISA, and that they must navigate the requirements imposed by a complex network of state and local laws. With this understanding, we anticipate they can address the particular needs of public sector plans and enable them to operate efficiently and adequately address the needs of the nation’s public sector employees.”NAGDCA’s 2024 Legislative Priorities are:

  • Enhancing investment options for 403(b) plan participants
  • Strengthening ROTH plan features for 457(b), 401(k), and 403(b) plan participants
  • Enhancing distribution choice from 457(b), 401(a), 401(k), and 403(b) plans
  • Enabling reasonable implementation timelines of SECURE 2.0 changes for state and local government plans
  • Ensuring the distinct features of 457(b) and 403(b) plans are maintained
  • Elevating the importance of personal retirement planning by continuing to support National Retirement Security Month

Additional details of NAGDCA’s 2024 Legislative Priorities may be accessed here.

ABOUT NAGDCA
NAGDCA provides education, information, and training in all aspects of public plan administration to support members in creating plans that enable secure retirement outcomes for their participants. Additionally, NAGDCA is a co-founder with the Employee Benefit Research Institute of the Public Retirement Research Lab, a retirement industry-sponsored collaborative effort. The PRRL mines data from the PRRL Database, the first-ever database specific to public sector plan- and participant-level defined contribution data, to produce research aimed at enhancing understanding of the design and utilization of public sector defined contribution retirement plans. NAGDCA also conceived National Retirement Security Week to encourage retirement saving among government workers. Through its efforts, National Retirement Security Week evolved into National Retirement Security Month, a national effort to inspire American employees to save adequately for a secure retirement that is observed throughout the retirement industry during the month of October. It has received bipartisan Senate resolution since its conception in 2006. To learn more about NAGDCA, visit https://www.nagdca.org/.

# # #

Media Contact
Robin Schoen
Robin Schoen Public Relations
215.595.7542
rschoen@robinschoenpr.com