By: Alex Turner
It’s hard to believe all that has happened since we met at the 2008 Annual Conference in Baltimore, Maryland! In three short months, we have seen unprecedented political and economic changes that have created many challenges for us all. The focus on saving for retirement has taken on a special significance. More than ever, we are called upon to educate, assist and counsel our participants as they face the uncertainty of the markets.
With this in mind, the Executive Board is committed to maintaining NAGDCA as a leading information resource for governmental defined contribution plans. NAGDCA will continue its efforts to provide up-to-date, relevant information to its members through the website and clearinghouse, listserv, NAGDCASTS, and the annual conference.
The Board is also looking forward to maintaining NAGDCA’s ongoing cooperative and collaborative relationship with the new Administration and the 111th Congress on retirement issues for all public employees. The Legislative Committee has drafted a letter setting forth our legislative priorities that the Board will send to all members of the new Congress. We are confident we will continue to have a strong voice on Capitol Hill, offering our expertise on defined contribution issues.
Further, NAGDCA will continue to work with the Congress in support of National Save for Retirement Week, first passed in the Senate in 2006, and passed by both the House and the Senate in 2007 and 2008. National Save for Retirement Week enabled state and local government employers across the country to create a heightened awareness of the importance of saving for retirement. In the upcoming year, it will provide a valuable opportunity to underscore the continued need for retirement savings with our plan participants, many of whom fear the current lack of economic stability. NAGDCA will urge Congress to reintroduce and pass this resolution for 2009.
The Arthur N. Caple Foundation will remain dedicated to retirement education. The Foundation will continue to award the ANC Scholarship, providing higher education students with funding to study financial or retirement planning and to participate in related learning opportunities. We also hope to expand the number of annual recipients and other educational opportunities.
In addition, the Foundation is working to identify research and information sharing initiatives that will enhance retirement education and readiness in the public sector. An exciting new ANC initiative is the establishment of an education presentation program, in which universities will allow NAGDCA representatives to conduct presentations in financial planning classes on the differences between public and private sector defined contribution plans. This program has already generated interest from five universities that have not previously been involved with the Foundation or NAGDCA.
This is going to be an exciting year for us all. I look forward to working with all of you as we move forward to meet the challenges the New Year will bring, and to create a stronger association that continues to support and serve its members. On behalf of all the Executive Board members, best wishes in the New Year!
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