Dear NAGDCA Members,
Summer is already half finished, and the NAGDCA staff is in full swing preparing for the conference in San Diego this fall. We have an amazing lineup of panels, keynotes, and case studies planned for you this year. We also put an emphasis on giving you more time to interact and network with your friends and colleagues. The Annual Conference Committee has been incredible (again), and we cannot thank them enough for the work they have put in. September will be here before we know it, and we are excited to see you all soon!
In the meantime, we have several volunteer opportunities open now that I want to bring to your attention. The first is the NAGDCA Executive Board. Nominations for the Board close this Friday. Joining the Board is the ultimate way to help guide the strategic direction of the organization as we continue our work of providing value for your membership. The commitment is tailored to fit your busy work schedules, and it’s a great group of people. If you have any questions, feel free to reach out to me directly, or I’m sure any current Board member would be happy to share their experience.
We also have our Industry Committee nominations open. The Industry Committee culminates with two years as the industry representative on our Executive Board. It’s the perfect place for leaders in the public plans industry to share their knowledge with our government board members. Unlike in past years, we will hold the election for the Industry Committee online this year at a virtual business meeting in August. This will allow our industry members to have more time to network and make connections at the conference, and it will bring the process in line with the one we use for our government members.
Finally, the chance to volunteer for our other committees (Annual Conference, Awards, Legislative) is closing fast as well. We always love to see new faces in those groups, and they offer wonderful opportunities to engage with the NAGDCA community in a meaningful way. If you have been thinking about doing more with us, now is the time!
As always, let us know what we can do to make your work day a little easier.
All the Best,
Matt Petersen
Executive Director
In the early morning hours of May 22, the House of Representatives passed the One Big Beautiful Bill Act (H.R. 1), the House version of a budget reconciliation bill that includes most of President Trump’s legislative priorities, including extending expiring provisions of the Tax Cuts and Jobs Act of 2017, spending reductions, Medicaid reforms, enhanced energy production incentives, and increased defense and border spending. The House passed the bill by a vote of 215-214, with 212 Democrats and two Republicans voting against the bill, one Republican voting present, and two Republicans not voting.
The House-passed bill includes a number of health and welfare and other benefit-related provisions, including changes to HSAs, ICHRAs, ACA health tax credits and subsidies, certain fringe benefits, and executive compensation. The bill also would create new tax-favored savings accounts (referred to as “Trump accounts”) and provide the Office of Management and Budget with $100 million for deregulatory activities. Notably, the legislation does not include any changes to the retirement plan tax incentives and governmental plans are not a focus.
The Senate has been working on its version of the bill and Senate Republican leaders are hoping for a floor vote later this week or weekend. The Senate Finance Committee’s initial version of legislative text (section-by-section), released on June 16, did not include changes to the tax incentive for retirement savings or governmental plan provisions, nor does it contain many of the benefits-related provisions from the House-passed bill, such as provisions concerning HSAs and ICHRAs. Senate Committee leaders have been meeting with the Senate parliamentarian to discuss whether certain provisions would violate the Byrd Rule, a Senate rule that generally requires all budget reconciliation provisions primarily relate to the budget. A new version of the Senate’s legislative text is expected to be released later this week before the beginning of floor votes.
Republican Congressional leadership and the White House are still publicly stating that they intend to pass and sign the legislation into law by the July 4th holiday, but it is unclear at this time whether they will be able to meet that deadline.
REGISTER FOR #NAGDCA25 TODAY!
Don’t miss the opportunity to connect with the NAGDCA community September 28 – October 1 in San Diego! Join public plan sponsors and industry leaders from across the country for four days of networking, collaboration, and insightful discussions designed to help you improve retirement outcomes for participants.
The annual conference offers a unique space to exchange ideas, discover innovative strategies, and build lasting professional relationships.
GET INVOLVED – VOLUNTEER OPPORTUNITIES NOW OPEN!
Looking for ways to engage more deeply with NAGDCA and support the public sector retirement community? We’re currently accepting volunteers for several roles:
- Executive Board Member-at-Large – Nominations due Friday, June 27
- Committee Sign-Ups – Due Monday, July 1
- Industry Committee Nominations – Due Tuesday, July 23
Click the links below to learn more and submit your interest. We’d love to have you involved!
DON’T MISS NAGDCA CONVERSATIONS: INSIGHTS FROM INDUSTRY EXPERTS
NAGDCA Conversations is a video and podcast series designed to explore the latest trends, challenges, and innovations in public sector defined contribution (DC) plans. Each episode features in-depth discussions with industry experts, offering valuable insights for plan sponsors, fiduciaries, and anyone invested in the future of public sector retirement.
Recent topics include:
- Private Assets
- Auto Enrollment
- Managing Uncertainty
Stay informed and gain actionable takeaways to help strengthen your plan.