NAGDCA’s Legislative Priorities
Each year NAGDCA advocates for a list of federal legislative priorities which are developed by the Legislative Committee and the Executive Board with the advice and support of the Government Affairs Director and staff. NAGDCA’s legislative priorities represent solutions to the most pressing federal policy and technical problems facing NAGDCA’s members.
In March of each year, the Executive Board presents the priorities in small group meetings with key legislators and their staff on Capitol Hill, to ensure that the voice of all NAGDCA members is heard at the federal level.
2019 Legislative Priorities
PRESERVE IMPORTANT UNIQUE PLAN FEATURES –
NAGDCA is opposed to “Rothification” (requiring all or part of retirement plan contributions be made as Roth contributions), “plan consolidation” (the creation of a single new section of the IRS code, collapsing all defined contribution retirement plans into one), or any other plans that would eliminate current plan flexibility.
Accordingly, we oppose eliminating or reducing the special catch up provisions currently available in 457(b) plans which allow employees who are closer to retirement to save more.
ENHANCE INVESTMENT OPTIONS FOR 403(b) INVESTORS –
Permit Collective Investment Trusts (CIT’s) and separate accounts as investment vehicles in 403(b) plans and deemed IRA’s as they are in other governmental plans.
SUPPORT NATIONAL RETIREMENT SECURITY WEEK –
To elevate the importance of personal retirement planning, we encourage the House and the Senate to introduce and pass a resolution to support National Retirement Security Week again in 2019.
ROTH IMPROVEMENTS –
Allow participants to roll assets from a Roth IRA into their government defined contribution plans and exempt designated Roth contributions from required minimum distribution rules.
ENHANCE ADMINISTRATIVE EFFICIENCY AND PROMOTE SAVINGS –
Enhance simplicity, flexibility and choice by eliminating the “first day of the month” requirement for making changes to contributions to 457(b) plans and allowing non-spousal beneficiaries to roll assets into government plans.
ENHANCE DISTRIBUTION CHOICE –
Extend Qualifying Charitable Distributions (QCDs) to governmental defined contribution plans, as is permitted from IRA’s.
If you are interested in learning more about NAGDCA’s legislative priorities or if you would like to serve on a committee to help develop our legislative action plans, please contact us. We are always working to include NAGDCA members in our legislative and advocacy efforts. Your feedback and your voice are important.