NAGDCA’s website is a great starting point for
public sector plan sponsors when searching for information and education, and
there are many other free resources available online for informing and
Best practices in plan sponsor education include:
Key Issues in the Industry – NAGDCA holds periodic webcasts on material
pertinent to plan administrators. NAGDCA members have access to the webcast
archive, with helpful information from years past. The NAGDCA website also
features written resources such as issue brochures and NAGDCA Notes, which
provide information on current topics.
– A key feature of NAGDCA membership is the networking provided with other
public sector plan administration professionals; opportunities for networking
include the annual conference, the online member-only NAGDCA Network, and
utilization of periodic surveys to review narrative overviews of the key areas
involved in administering governmental defined contribution plans.
Abreast of Regulatory and Legislative Updates – The Governmental Plans Updates,
prepared by the IRS Offices of Employees Plan; Federal, State and Local
Governments; and Indian Tribal Governments are brief summaries with links to other
pertinent materials on the IRS.gov website. Current research will help defined
contribution plan administrators be aware of trends in DC plans; in 2012, the
Arthur N. Caple Foundation and NAGDCA published The Evolving Role of Defined
Contribution Plans in the Public Sector, which can be read by clicking
a Commitment to Ongoing Fiduciary Professional Development and Training –
NAGDCA encourages plan sponsors to offer development and training services to
their staff and trustee/board members.
NAGDCA is affiliated with the International Foundation for Retirement Education
(InFRE), an independent non-profit organization that offers the Certified
Retirement Counselor © certification program and the Retirement Plan
Administrator professional development series. To learn more about InFRE plans,
should invest time and resources in fiduciary education for parties involved in
administering the plan. Many resources on fiduciary education can be found for
free on websites for the Department
of Labor, Morningstar,
and others. Other topics plan sponsors and administrators need to know include
retirement plan design, investing, plan operations, and compliance and ethics.
Plan administrators would also be served well to expand their knowledge of
retirement counseling and participant education.
For more information
regarding Plan Sponsor Education, and other Best Practices, check
out NAGDCA's Best Practices Guide at NAGDCA.org.