Best Practices

Best Practices2019-08-23T10:32:44+00:00

Best Practice Guides for Defined
Contribution Plan Sponsors

We deal in an industry that is complex, and which continues to increase in complexity as time goes by. NAGDCA has put together a series of guides to help all plan sponsors develop deferred compensation plans that provide participants with financial security at retirement. The best practice guides provide plan sponsors with the strategic ability to balance the unique qualities of their own organization with the best practices of other plans in similar municipalities. Use the collective experience of our vast membership network to implement best practices for your government defined contribution plan.

Usable, Relevant and Actionable Ideas

The wealth of knowledge among the NAGDCA membership is unparalleled anywhere else in the public sector defined contribution industry. Our best practice guides distill the decades of knowledge that our members bring to the organization into usable, relevant, and actionable ideas for how to improve retirement outcomes for public sector workers. Each guide addresses the most important topics in public sector retirement, and provides applicable solutions to complex problems.

Our Best Practice Guides give professionals new to the industry a foundation for how to set up and administer public sector defined contribution plans, while our veteran members can use these guides as a reference point for maintaining the best possible structure for their public sector employees.

Best Practice Guide to:

Plan Administration

The Plan Administration Guide walks members through concepts, terms, and structure of government defined contribution plans. This guide covers the plan document, plan services, bundled & unbundled plans, contracted vs in-house service providers, the role of consultants, and the role of the Internal Revenue Services.

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Plan Governance

The Plan Governance Guide steps members through the considerations related to their fiduciary responsibility and oversight options. It also defines best practices for creating plan documents, bylaws, and investment policy statements – all of the nuts-and-bolts procedures that set a defined contribution plan on the path to success.

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Plan Structure and Design

Plan design is perhaps the most critical component of administering a defined contribution plan, and our Plan Design Guide provides the newest ideas on the topic. How to structure investments, how to manage loans, the latest in auto features and match options – it’s all covered here.

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Participant Engagement 

Our Participant Engagement Guide collects the most thoughtful and effective ideas from our members related to participant communication. No single set of materials works for everyone, but the accumulated knowledge of NAGDCA’s best practices offers something for every plan sponsor to use, and tailor to their own defined contribution participants.

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Plan Sponsor Ongoing Education

The Best Practice Guide to Plan Sponsor On-Going Education was created with the intent to help you better understand and fulfill the requirements of your role as a plan administrator as the landscape changes. Use these best practices to stay connected with the latest trends and updates to our industry.

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Transitioning Deferred Compensation Plans

Transferring defined contribution vendors can be a monumental task. Our Plan Transition Guide steps plan sponsors through their responsibilities, and puts them on a path to make the process as seamless as possible.

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