Our Future is Bright
NAGDCA is 36 years old and has grown to have members from 50 states, about 200 local governments and 150 industry organizations. Together, we have become the leading organization for public employer supplemental defined contribution retirement plans. Your board is hard at work on some pivotal projects to serve the membership and future-proof NAGDCA.
In preparation for the board’s biennial strategic planning retreat in June, we are working to gauge NAGDCA’s organizational structure and ascertain the needs of the membership. We want to envision the future and evaluate what needs to be done now to position NAGDCA to be excellent and relevant for years to come. We’ll be conducting a membership needs assessment in early May. I encourage both our plan sponsor and industry members to make your voices heard by participating in our survey.
As you may have read in my last update, we are developing an enhanced National Retirement Security Week campaign. When our member plans, in partnership with their retirement plan vendors, roll out a coordinated campaign with cohesive messages all across the country, we can amplify our voice and have more of an impact. Our campaign will appeal to plans outside of NAGDCA’s membership and we are looking forward to engaging them too. Stay tuned for more information about the campaign and how you can get involved.
The board has worked diligently to develop a new benchmarking service, Perspectives in Practice. In a nutshell, it will dramatically enrich the survey NAGDCA has done for many years. You’ll find more details in the related article in this newsletter.
Your board is doing progressive things and I couldn’t be more proud. I always want to hear about your ideas, hopes or frustrations……especially during this time when the future of NAGDCA is shining bright and we are working to make sure it stays that way. You can email me your thoughts at firstname.lastname@example.org
As I close, I feel like I am writing to friends because so many of you have helped me and been my support system during the 15 years I have been involved with NAGDCA. Wyoming has a better 457 Plan to offer its public employees due to NAGDCA and that is what it is all about!
Wyoming Retirement System
2015-16 NAGDCA President
Perspectives In Practice – A Benchmarking Initiative for Public Sector
Defined Contribution Plans
After much anticipation, NAGDCA has launched its new benchmarking services - Perspectives in Practice – A Benchmarking Initiative for Public Sector Defined Contribution Plans. Having good data has always been important to NAGDCA and its members. While we have a long history of conducting surveys, this new service will allow us to collect data in a more robust and meaningful way.
Key benefits of the project include the ability to use the data to understand trends and identify issues to better serve NAGDCA members, support our legislative efforts in Washington, D.C., and provide members the capability of benchmark their plans with peers in order to gain knowledge and improve the outcomes for their participants.
A webinar will be held on Tuesday, April 12 at 1 p.m. (ET) to provide more information about the benchmarking initiative and there will be time for Q&A. We encourage you to sign up here.
All government primary members should have received an email with a customized link to complete the survey. If you need to have it resent, please contact Tracy Tucker at email@example.com. Responses are due May 2 and we would love to have 100 percent participation from our government members. The more data we collect, the more meaningful the results will be.
NAGDCA Leadership and Media Awards Nominations Now Being Accepted
To nominate a government member for a NAGDCA Leadership Award, please click here. Leadership awards categories include: Participant Education/Effective Communication, Plan Design & Administration, National Retirement Security Week, Technology and Social Media, and Excellence in Governmental 403(b) Plans.
NAGDCA is also accepting nominations for the Media Recognition Award. This award recognizes a member of the media for outstanding coverage of pension and retirement issues in newspapers, magazines, newsletters or research reports. The 2016 award will be presented at NAGDCA’s Annual Conference in September.
All applications are due May 20.
Executive Board Visit to The Hill
NAGDCA’s Executive Board traveled to Washington, D.C. March 21-22. They met with key officials from the Departments of the Treasury and Labor as well as majority and minority tax counsel for the House Committee on Ways and Means, majority tax counsel for the Senate Committee on Finance, and staff for Senators Cardin (D-MD) and Enzi (R-WY) and Representatives Neal (D-MA) and Larson (D-CT).
At the meetings, the Executive Board discussed NAGDCA’s priorities including the preferred tax treatment of retirement savings, National Retirement Security Week (October 16-22), the elimination of the first day of the month requirement, exempting Roth assets from required minimum distribution provisions, allowing rollovers from Roth IRA’s to governmental defined contribution plans, non-spousal beneficiary IRAs increasing eligibility for the low income savers tax credit and including the savers credit on the 1040EZ form. NAGDCA board members also discussed other issues that are covered below including the Department of Labor fiduciary rule, Department of the Treasury charter school rule, and tax reform.
NAGDCA Board of Directors visited Capitol Hill March 21-22 to meet with key legislators and their staff regarding NAGDCA legislative priorities.
NAGDCA Board of Directors met with Department of Labor Assistant Secretary Phyllis Borzi to discuss NAGDCA legislative priorities.
Arthur N. Caple Scholarship
Applications for the 2016 scholarship program are currently being accepted. The deadline
to apply is May 2.
The ANC Foundation, in partnership with the International Foundation for Retirement Education (InFRE), developed the criteria for the scholarship. To be considered, applicants must be enrolled as a full-time student at a university or college, be a junior or senior, be enrolled to continue university studies for the following semester, and be a U.S. citizen.
The scholarships commemorate the lifework of Arthur N. Caple, former Executive Director of the State of Maryland Supplemental Retirement Plans and NAGDCA Past President, who passed away in 2004.
For additional information about the scholarship program, please visit the ANC Foundation.
Mark Your Calendar:
1–2 p.m. (ET)
Industry Roundtable Meeting
The Liaison Capitol Hill
Webcast: Legislative Update
12–1 p.m. (ET)