The NAGDCA News | Fall Issue

I want to thank everyone who attended the Annual Conference in Philadelphia. We had an amazing turnout with 920 attendees! I received some great feedback on the conference that will continue to help shape and improve the content of future NAGDCA annual conferences. Many individuals aided in the success of this conference. On the front lines, those included:

All of the amazing AMR staff
2018 Annual Conference Committee:
Vice-Chair: Greg Jenkins, Invesco
Prabh Kaur, ICMA-RC
Marla Kreindler, Morgan Lewis & Bockius, LLP
Mark Manion, State of Minnesota
Liz Masson, Hanson Bridgett, LLP
Melanie Walker, Segal Consulting
All moderators and speakers
NAGDCA Executive Board
Matt Peterson, NAGDCA Executive Advisor
Paul Beddoe, NAGDCA Director of Government Affair

I also want to extend a special thanks to our very own education crusaders here in Missouri, Brooke Rowden and Kelsey Harris, for the stellar work on the conference invitation video as well as the conference opening video .

Innovation was at the center of our conference theme. Our keynote speakers explored this concept and described various innovations from Scott Wayne’s broader view of the “Cartography of Innovation”, to Gary DeMoss’s guidelines for messaging using the 4 P’s (Positive, Plausible, Plainspoken and Personal) to Punam Keller’s emotion-based “enhanced active choice” plan design nudge.

I am excited to serve as NAGDCA President for the year. I couldn’t do it without the support of the other amazing board members. They have a collective passion to continue to move our plans forward.

Thank you to Keith Overly for performing the role of NAGDCA President over the past year. He excelled in this position and put in a significant amount of work from his strides in benchmarking to his major role in assuring that NAGDCA’s priorities were considered as part of recent tax reform and so much more.

Thank you to our past president, Steven Montagna for this service on the board over the past six years. His passion and commitment to the public defined contribution space is inspiring. Thanks to Kamila Kowalke for her participation on the industry side over past two years on the NAGDCA Board. Her service and insight was so appreciated.

Welcome to our new board members, Rob Boehmer, Member-at-Large and Jake O’Shaughnessy, Industry President. Check out their bios on the NAGDCA website .

Between a new and improved NAGDCA website on the horizon to ongoing improvements in data collection and benchmarking as well as continuing to be the “Voice of Public Plan Sponsors”, we have a busy year ahead of us! Please do not hesitate to contact the board with any input as well as volunteering your services to help NAGDCA’s members produce results for plan participants.

Sincerely,

Cindy Rehmeier, NAGDCA President

Manager of Defined Contribution Plans

Missouri State Employees Retirement System

ASSOCIATION NEWS

2018 BENCHMARKING REPORT

The third annual NAGDCA Benchmarking report is now available! The report is based on data submitted by 63 individual plans representing $165 billion in total plan assets and 3.1 million individual plan participants.

Plans that participated in the survey have been granted access to a suite of online tools .

Detailed Report

Executive Summary Report

2018 NATIONAL RETIREMENT SECURITY WEEK

National Retirement Security Week was held October 21-27. Plans across the country used the week as a time to promote retirement security awareness to participants and many incorporated the ready-to-use communications campaign materials. NAGDCA's newly released age-targeted videos , Your Whole Story - Retirement Garden Edition , received over 5,500 views. The U.S. Senate unanimously approved the NRSW resolution, S. Res. 654 , on September 26.

WASHINGTON UPDATE

Congress returns to Washington next week after midterm elections in which Democrats won enough seats to retake the House and Republicans increased their Senate majority. While the partisan split will likely put the brakes on most major legislation for the next two years, bipartisan action on retirement policy may be possible.

Notably, Rep. Richard Neal (D-Mass.) is in line to take the chairmanship of the House Ways and Means Committee, which has jurisdiction over the tax code, when the new Congress is convenes in January. Neal has a strong interest in retirement policy. Last year he signaled his intentions by introducing the Retirement Plan Simplification and Enhancement Act, H.R. 4524, which includes provisions reflecting NAGDCA’s priorities, including repealing the first day of the month rule, allowing non-spousal rollovers, and including the Saver’s Credit in the 1040 EZ form.

NAGDCA continues to discuss our ideas for improving governmental defined contribution plans with Senators Rob Portman (R-Ohio) and Ben Cardin (D-Md.) who are working on a new package of retirement policy enhancements which could be introduced during the lame duck session. Though the calendar would make passage this year unlikely it could be reintroduced in the new Congress.

In the short term, retiring Senate Finance Committee Chair Orrin Hatch (R-Utah) and Ranking Minority Member Ron Wyden (D-Ore.) continue their efforts to advance the bipartisan Retirement Enhancement and Security Act, S. 2526, (known as “RESA”), during the lame duck session. If they are successful, the Family Savings Act, H.R. 6757, which passed the House in September, could form the basis for negotiating a compromise bill with the Senate bill. While neither measure addresses governmental defined contribution plan issues, neither do they include the adverse plan consolidation provisions which NAGDCA has actively advocated against.

Paul Beddoe

NAGDCA Government Affairs Director

Paul V. Beddoe Government Affairs, LLC

NAGDCA accepts article submissions from all members to include in the quarterly newsletter. To submit an article for The NAGDCA News, please click here . *All articles subject to Board approval.

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