Dear NAGDCA Members,
The current crisis underscores the importance of sound data. As our nation’s leaders seek a safe way for us to return from the COVID-19 pandemic, their decisions will be guided by data. Data is the force that informs rational decisions, compels change, and fuels innovation—and it’s why we’re reaching out to you today.
Late last year, NAGDCA and EBRI announced the formation of the Public Retirement Research Lab (PRRL). The goal of this retirement industry-sponsored collaborative effort is to provide cutting-edge research and further understanding of public sector retirement plans—all of which depends on data, and you.
We need your participation to build the first-ever comprehensive database of public sector defined contribution retirement plan data. Your participation ensures a rich trove of data; data essential to empowering you as public sector sponsors to optimize your plans and programs, and best assist your participants in achieving a financially secure retirement.
The creation of the PRRL database promises several important benefits to plan sponsors. For participating plans these include: free access to the PRRL portal enabling independent assessments and comparisons according to select variables; a “You vs. the Universe” report comparing your retirement plans with aggregated data from other plans in the database; and access to exclusive public sector-focused research from EBRI, NAGDCA, and our partners.
Additionally, the knowledge derived from this data provides the means for public sector vendors to craft better, more robust defined contribution plans tailored to the needs of public sector employees (vs. those based on assumptions from 401(k) data). Finally, this effort also yields the intelligence necessary to drive NAGDCA’s legislative efforts supporting improvement of public sector employee retirement plans.
Your participation in this important initiative requires only that you complete a simple form authorizing your recordkeeper to transfer your plan data to the PRRL database. This requires no more than 5 minutes of your time. Click here to complete the authorization. Brief instructional videos are available here. Data security is paramount and assured; you can access a detailed description of the project here. If state or local statutes prohibit data sharing, contact us; we may be able to help clear the hurdles to your participation. If you have any questions, please contact Matt Petersen here.
We’re thrilled to be involved in the PRRL, and excited by the potential for our work together to strengthen public sector retirement plans and enhance retirement plan outcomes for the nation’s 20+ million public sector employees. Thank you for ensuring the PRRL’s success with your participation!
President, Chief Executive Officer
Plan Sponsor Advisory Council Chair
Former Executive Director
Ohio Deferred Compensation
Vice President, DC Practice Director
The Segal Group
Senior Vice President
Associate Vice President