The NAGDCA Industry Committee has been hard at work developing four taskforces that were established as a result of the 2006 NAGDCA Industry Roundtable. Because of the important role that the private sector plays in the defined contribution industry, the Roundtable was designed to bring legislative and operational leaders together to discuss and make recommendations on common issues.
At the conclusion of this year's Roundtable, the group recommended to the NAGDCA Board to institute the following taskforces.
- Fiduciary Responsibility Taskforce that will develop a checklist for plan administrators and plan sponsors to review in reviewing their fiduciary liability.
- Once the 403(b) Regulations are released, a taskforce will work together to highlight and evaluate common issues that may affect the current administration of these plans.
- An Investment Advice taskforce will determine certain impacts of offering investment advice and devise guidelines for providing the advice.
- Finally, a white paper will be developed which analyzes the affect of GASB and OPEB.
NAGDCA would also like to recognize and congratulate the 2006-2007 Industry Committee:
President: Brian McCleave, Prudential Retirement
Vice President: Tim Rouse, Fidelity
Secretary: Janet Kendall, ING Financial Advisers
Treasurer: Kurt Walten, NAREIT
Member-at-Large: Michael Studebaker, Nationwide Retirement Services
Member-at-Large: Rod Crane, TIAA-Cref
Past President: Matt Abraham, Mutual of Omaha
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