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NAPA Announces the Retirement Industry’s Top 10 DC Wholesalers
American Retirement Association (ARA) | September 12, 2019

ARLINGTON, VA (Sept. 12, 2019) – The National Association of Plan Advisors (NAPA) is pleased to announce the Top 10 Defined Contribution (DC) Wholesalers, as selected by the nation's leading retirement plan advisors.

The Top 10 DC Wholesalers in two categories – recordkeeping and DCIO (defined contribution investment only) - were drawn from the list of Top 100 DC Wholesalers, based on votes cast by several thousand advisors from a list of more than 600 wholesalers nominated by NAPA Firm Partner recordkeepers and Defined Contribution Investment Only (DCIO) providers.  

“We call them “Wingmen” because if they are doing their job, they have the advisor’s back in terms of information, tools, and support,” explained Nevin Adams, Chief Content Officer at the American Retirement Association, and Editor-in-Chief of NAPA-Net, the publication that sponsors the award.

With an estimated 1400 record keeping and DCIO external wholesalers working directly with advisors, this Wingmen list represents the top 7 percent of the industry.

The 2019 Top 10 DC DCIO Wholesalers are:

Ryan

Fay

John Hancock Investments

Matt

Kasa

Nuveen

Mike

Manosh

Fidelity Investments

Todd

Matlack

Invesco

Eric

Milano

T. Rowe Price

Brian

Munn

American Century

Keith

Neal

MFS Investment Management, Inc.

Nancy

Tassiello

Legg Mason

Matt

Vanaman

PIMCO

Kim

Zook

Victory Capital

The 2019 Top 100 DC Recordkeeper Wholesalers are:

 

Dennis

Beaudet

John Hancock RPS

Bradford

Boney

John Hancock RPS

Jerry

Cicalese

Sentinel Benefits & Financial Group

Travis

Gavinski

Lincoln Financial Group

Brody

Geist

Securian Financial

Donny

Sheinwald

Lincoln Financial Group

Troy

Testa

CUNA Mutual

Scott

Ward

John Hancock RPS

Barbara

Wilderman

John Hancock RPS

Dan

Zibaitis

John Hancock RPS

These lists are available at: https://www.napa-net.org/industry-intel/accolades/top-dc-wholesalers

The NAPA Top 100 DC Wholesalers and NAPA Top 10 DC Wholesalers will be featured in the fall issue of NAPA Net the magazine.

About NAPA:
The National Association of Plan Advisors was created by and for retirement plan advisors. Membership is also open to other retirement industry professionals who support the interests of plan advisors. NAPA is the only advocacy group exclusively focused on the issues that matter to retirement plan advisors.

More information about NAPA is available at www.napa-net.org.

NAPA Announces the Retirement Industry’s Top 100 DC Wholesalers
American Retirement Association (ARA) | September 6, 2019

ARLINGTON, VA (Sept. 10, 2019) – The National Association of Plan Advisors (NAPA) is pleased to announce its list of 100 Top Defined Contribution (DC) Wholesalers, as selected by the nation's leading retirement plan advisors.

This year's list drew an overwhelming response.  Finalists for this recognition were selected based on votes cast by several thousand advisors from a list of more than 600 wholesalers nominated by NAPA Firm Partner recordkeepers and Defined Contribution Investment Only (DCIO) providers.  

“We call them “Wingmen” because if they are doing their job, they have the advisor’s back in terms of information, tools, and support,” explained Nevin Adams, Chief Content Officer at the American Retirement Association, and Editor-in-Chief of NAPA-Net, the publication that sponsors the award.

With an estimated 1400 record keeping and DCIO external wholesalers working directly with advisors, this Wingmen list represents the top 7 percent of the industry.

The list is available at: https://www.napa-net.org/industry-lists/top-wholesalers/

The NAPA Top DC Wholesalers will be featured in the fall issue of NAPA Net the magazine.

About NAPA:
The National Association of Plan Advisors was created by and for retirement plan advisors. Membership is also open to other retirement industry professionals who support the interests of plan advisors. NAPA is the only advocacy group exclusively focused on the issues that matter to retirement plan advisors.

More information about NAPA is available at www.napa-net.org.

4 Ways to Improve 403(b) Plans
American Retirement Association (ARA) | September 6, 2019

ARLINGTON, VA (September 5, 2019) – Just in time for 403(b) Day, new research from the National Tax-Deferred Savings Association (NTSA) highlights opportunities that can help increase participation and savings for the nation’s public education professionals.

 

Building on the foundation of NTSA’s ground-breaking 2018 survey of public education 403(b) retirement plans, “Improving Retirement Savings for America’s Public Educators”, the new white paper expands on the positive impact of four specific plan design features; (1) automatic enrollment, (2) match programs, (3) special pay plans and (4) retirement education programs.

“Improving employee financial health contributes to increased employer financial health and

operational efficiency,” notes Brent Neese, Executive Director of NTSA.  “By focusing on available plan design options, an employer can save money while providing for additional savings for their employees towards retirement”.

 

The white paper outlines a number of positive impacts for both plan participants and their employers from these design initiatives, including:

  • Increased participation and savings rates
  • More financially secure employees who stay longer, are happier and more productive
  • Enhanced value of benefits, improving ability to attract and retain valued employees.
  • Providing fiscal budget flexibility and tools in managing outlays for employees near retirement

 

Copies of the new NTSA whitepaper, “Opportunities to Improve Your 403(b) Plan” are available at www.ntsa-net.org

 

About the National Tax-Deferred Savings Association

Formed in 1989, the National Tax-Deferred Savings Association (NTSA) represents nearly 6,000 practitioners, agencies and corporate members. For nearly three decades, NTSA has been nationally recognized for its thought leadership and policy expertise with regard to public-sector retirement plans. NTSA represents its membership in Washington, D.C. and state capitals across the country to address issues and design retirement plans that improve employee outcomes. NTSA also provides high-quality education, professional development and information resources for those involved in the non-profit, 403(b) and 457(b) marketplace.

Nominations Now Open for NTSA 2020 Elite Advisor Award
American Retirement Association (ARA) | August 13, 2019

ARLINGTON, VA (Aug. 13, 2019) – The National Tax-Deferred Savings Association (NTSA) has opened nominations for the 2020 NTSA Elite Advisor Award.

Established in 2014, the NTSA Elite Advisor Award is an annual member recognition program that has been established to honor Financial Advisors whose presence and innovative works have helped shape the best practices in serving clients in the ERISA non-profit, 403(b), and 457 retirement industry, as well as to acknowledge their specific outstanding, unique accomplishments and/or contributions.

The awards will be presented at the Jan. 27 Awards Luncheon at the 2020 NTSA Summit, Jan. 26-28, 2020 at the Gaylord Rockies Resort and Convention Center in Denver, CO.

"The NTSA Elite Advisor Award proclaims to the retirement industry, to the federal, state and local legislatures, and to the public that NTSA and its affiliated-advisors are critical to this marketplace," said NTSA President Kris Coffey. "NTSA Elite Advisors are educated, experienced, involved community professionals, key attributes required for the process of achieving individual retirement security for those Americans in the non-profit public and private sector. Together with NTSA, these Elite Advisors are committed to open access, professional advice, standard of care, collaboration and ethical behavior."

To be considered, advisors must be:

  • A NTSA advisor member for at least three years;
  • Active for five or more years as an advisor serving non-profit, 403(b) and/or 457 retirement plans;
  • Responsible for $27,318,175 or more in retirement assets, specifically 403(b), 457 and IRAs;
  • Licensed for securities and insurance; and
  • In good standing with FINRA and SEC.

Elite Advisor candidates must also complete an application in response to their nomination that includes commentary on their activities regarding leadership, advocacy, practice management and legacy.

"NTSA Elite Advisors are truly the 'best of the best' in the industry, focusing on client needs, and leading advocacy in their local and national venues," said NTSA Executive Director, Brent P. Neese.

More information about the Elite Advisor Award can be found at ntsa-net.org/industry-intel/elite-advisor-award. To nominate an advisor, complete the online application before Sept. 13, 2019.

About the National Tax-Deferred Savings Association

Formed in 1989, the National Tax-Deferred Savings Association (NTSA) represents nearly 6,000 practitioners, agencies and corporate members. For nearly three decades, NTSA has been nationally recognized for its thought leadership and policy expertise with regard to public-sector retirement plans. NTSA represents its membership in Washington, D.C. and state capitals across the country to address issues and design retirement plans that improve employee outcomes. NTSA also provides high-quality education, professional development and information resources for those involved in the non-profit, 403(b) and 457(b) marketplace.

Retirement Savings Shouldn’t Be a Political Piggy Bank
American Retirement Association (ARA) | July 30, 2019

ARLINGTON, VA (July 29, 2019) —Middle-class American retirements are being targeted to pay for another political promise – the latest a “Medicare for All” proposal from U.S. Senator Kamala Harris.

Harris, a Democratic presidential aspirant, claims to raise “well over $2 trillion” over a 10-year period to pay for her proposal through a couple of measures, including a financial transactions tax on stock and bond trading, which – though it’s described as directed at “investors and big banks” - would also include the “investors” called American retirement savers and the hard-earned money set aside in their 401(k), IRAs, and pensions.

“American workers aren’t day-traders”, explains Brian Graff, CEO of the American Retirement Association.  “At a time when lawmakers claim to be so concerned about retirement income adequacy and the impact of 401(k) fees, it’s stunning that some would attack the retirement savings of hard-working Americans.

Nor is Harris the first presidential aspirant to seek to pay for their proposals with a sweeping tax on investment transactions with no apparent exception for retirement accounts.  Earlier this year U.S. Senator Bernie Sanders (I-Vt) co-sponsored the Inclusive Prosperity Act of 2019, which claimed to generate up to $2.4 trillion in “public revenue from wealthy investors” to help pay for a program that would underwrite forgiveness of student loan debt.  Senator Kristen Gillibrand (D-NY) was a co-sponsor of the Wall Street Tax Act, which purports to raise some $755 billion over a decade to help pay for infrastructure improvements – again by including the stocks and bonds held within the trillions of dollars of retirement savings invested every pay day in mutual funds and collective investment trusts by pensions and 401(k)s by Middle-Income Americans. 

How much difference could it make in retirement savings? Based on a 2015 report by the Obama Administration’s Council of Economic Advisors on the impact of 401(k) fees, these kind of taxes could reduce an American’s retirement savings by as much as 3% over their working life. 

 “Every week millions of Americans sacrifice to set aside part of their hard-earned pay for retirement, investing those savings to help provide a secure financial future,” Graff continues.  “After years of attacking 401(k) plan fees, some members of Congress – and those with an eye on the White House - now want to charge a fee every time a hard-working American contributes out of their pay into their 401(k).  Saving for retirement is hard work.  And those in Washington shouldn’t work to make it any harder”.   

About the American Retirement Association

 

The American Retirement Association, based in the Washington, D.C. area, is a non-profit professional organization established to empower retirement plan professionals who are dedicated to building a better retirement for Americans. The American Retirement Association is comprised of five premier retirement industry associations; the American Society of Pension Professionals & Actuaries (ASPPA), the ASPPA College of Pension Actuaries (ACOPA), the National Association of Plan Advisors (NAPA), the National Tax-deferred Savings Association (NTSA), and the Plan Sponsor Council of America (PSCA).

For more information, visit www.usaretirement.org.  

Millions of American Workers Still Lack Access to 401(k)
American Retirement Association (ARA) | July 24, 2019

ARLINGTON, VA (July 24, 2019) —Today the 401(k) is Main Street’s retirement plan – but tens of millions of American workers don’t have access to this opportunity.

According to a new state-by-state analysis [i] published by the American Retirement Association, more than 5 million employers in the United States still don’t offer a workplace retirement savings benefit, a generation after the 401(k) plan design was first introduced.

When a 401(k) is available, 78 percent of American workers who earn between $30,000 and $50,000 a year take advantage of the opportunity.  Today more than 80 million Americans are already participating in a retirement plan where they work.

However, data also shows that workers who earn between $30,000 and $50,000 a year are twelve times more likely to save at work than on their own [ii]. But today more than 28 million full-time workers don’t have an opportunity to save for retirement in a 401(k) – and that doesn’t include more than 23 million part-time workers who don’t have that opportunity.

“The 401(k) works, but only if workers have access to this critical benefit,” explains Will Hansen, Chief Government Affairs Officer for the American Retirement Association.  “Fortunately, the U.S. House of Representatives has, by an overwhelming 417-3 margin, passed the SECURE Act (Setting Every Community Up for Retirement Enhancement Act), a bipartisan package of commonsense enhancements designed to help small businesses offer a retirement savings plan – and give more working Americans the opportunity to save for retirement”.

The SECURE Act helps employers provide access to this important benefit by:

  • Significantly increasing the employer tax credit for starting a new retirement plan from the current cap of $500 to $5,000.
  • Allowing employers to join a pooled employer plan, potentially lowering plan costs and administrative burdens.
  • Helping ensure more part-time employees can contribute to an employer provided retirement plan.

“The SECURE Act can give millions more Americans the opportunity to save for retirement,” noted Hansen.  “We encourage the U.S. Senate to act promptly on this important legislation.  It’s time that every working American had the opportunity that millions already do.”

 

About the American Retirement Association

 

The American Retirement Association, based in the Washington, D.C. area, is a non-profit professional organization established to empower retirement plan professionals who are dedicated to building a better retirement for Americans. The American Retirement Association is comprised of five premier retirement industry associations; the American Society of Pension Professionals & Actuaries (ASPPA), the ASPPA College of Pension Actuaries (ACOPA), the National Association of Plan Advisors (NAPA), the National Tax-deferred Savings Association (NTSA), and the Plan Sponsor Council of America (PSCA).

For more information, visit www.usaretirement.org.  

 

[i] Fact sheets detailing the national and state-by-state impact is available at https://araadvocacy.org/issues/secure-act/states/

[ii] Vanguard, How America Saves 2018 (DC plan participation), EBRI estimate based on 2014 IRS SOI tabulation (IRA-only participation).

NAPA Launches Campaign to Recognize Top DC Wholesalers


American Retirement Association (ARA) | June 27, 2019

Arlington, VA – The National Association of Plan Advisors has opened its search for the nation’s top defined contribution wholesalers, who work in support of the nation’s leading retirement plan advisors.

Since 2014, NAPA has sponsored this industry accolade to acknowledge the contributions of the professionals who provide information, tools, and other support to retirement plans generally, and retirement plan advisors specifically.  Finalists for this recognition are selected based on votes cast by thousands of those advisors from a list of more than 500 wholesalers nominated by their NAPA Firm Partner recordkeepers and DCIOs, and reviewed by a panel of industry experts.

“We call them “Wingmen” because if they are doing their job, they have the advisor’s back in terms of information, tools, and support,” explained Nevin Adams, Chief Content Officer of the American Retirement Association, and Editor-in-Chief of NAPA-Net, the publication that sponsors the award.

The Top DC Wholesalers will be featured in the fall issue of NAPA Net the magazine.  Previous winners are listed at https://www.napa-net.org/industry-intel/accolades/top-dc-wholesalers.  Additional information about this year’s nominees is available online at http://bit.ly/2019wingmen

About NAPA:

The National Association of Plan Advisors was created by and for retirement plan advisors. Membership is also open to other retirement industry professionals who support the interests of plan advisors. NAPA is the only advocacy group exclusively focused on the issues that matter to retirement plan advisors, and is part of the American Retirement Association. The American Retirement Association, based in the Washington, D.C. area, is a non-profit professional organization established to empower retirement plan professionals who are dedicated to building a better retirement for Americans.

More information about NAPA is available at napa-net.org. 

What Keeps Retirement Industry Leaders Up at Night?
American Retirement Association (ARA) | June 26, 2019

CHICAGO, IL (June 20, 2019) — An exceptional panel of retirement association leaders will inspire and engage attendees at a unique event for women working with retirement plans.

In addition to an innovative agenda with content built by women advisors and third-party administrators (TPAs) for women, history will be made as women leaders across the five American Retirement Association (ARA) organizations will gather on one stage at the upcoming Women in Retirement Conference (WiRC). This exclusive American Retirement Association Women in Leadership Roundtable includes:

  • Kristine J. Coffey, President, National Tax-deferred Savings Association (NTSA) (January 2019-2020)
  • Marjorie F. Mann, Plan Sponsor Council of American (PSCA) 1st Vice Chairperson
  • Miriam G. Matrangola, American Society of Pension Professionals and Actuaries (ASPPA) President-Elect
  • Lauren R. Okum, ASPPA College of Pension Actuaries (ACOPA) President-Elect
  • Jania E. Stout, National Association of Plan Advisors (NAPA) President (March 2019-2020)

They will share how they have ascended in leadership, what keeps them up at night, how they started in the industry, and how they stay relevant and set themselves apart. In this 90-minute wide-ranging and interactive discussion, they will discuss:

 

  • The impending wave of retirement dollars that will pay out or roll out of plans.
  • The inevitable end of the bull market.
  • How to monetize multiple employer plans (MEPs) and Health Savings Accounts (HSAs) for advisors and TPAs.
  • The increasing gap between the “haves” and “have nots” in terms of retirement savings.
  • Protecting TPA relationships in an era of fee reduction and one-stop shopping.
  • Cybersecurity issue with recordkeepers.
  • And much, much more.

This year’s event is sold out, but if you’re a woman advisor or TPA – you can’t afford to miss the 2020 Women in Retirement Conference. More details about the conference can be viewed at https://womeninretirement.org/sign-up/.

About the American Retirement Association

The American Retirement Association, based in the Washington, D.C. area, is a non-profit professional organization established to empower retirement plan professionals who are dedicated to building a better retirement for Americans. The American Retirement Association is comprised of five premier retirement industry associations; the American Society of Pension Professionals & Actuaries (ASPPA), the ASPPA College of Pension Actuaries (ACOPA), the National Association of Plan Advisors (NAPA), the National Tax-deferred Savings Association (NTSA), and the Plan Sponsor Council of America (PSCA).

For more information, visit www.usaretirement.org.  

PenChecks Trust™, ASPPA Open Applications for Prestigious QKA Scholarship Program
American Retirement Association (ARA) | June 26, 2019

PenChecks Trust Company of America (PenChecks Trust) and the American Society of Pension Professionals & Actuaries (ASPPA) are pleased to announce the opening of applications for the QKA Scholarship Program for ASPPA’s Qualified 401(k) Administrator (QKA) credential program.

Launched in 2014, the PenChecks Trust ASPPA QKA Scholarship will again be offered this year to acknowledge six individuals who make the most compelling case for how the prestigious QKA designation will enhance their careers in the retirement plan industry. The scholarship, which has been offered to two dozen individuals since its introduction, is designed to cover the expenses associated with course registration and materials necessary to attain the QKA credential.

Once the credential is earned, PenChecks Trust will also sponsor the recipient’s first year of ASPPA membership. The total value of each scholarship, including ASPPA membership, is $2,300. This year’s recipients will be announced at the 2019 ASPPA Annual Conference, October 20-23 in National Harbor, MD.

“In a complex and constantly changing retirement plan environment, it is critically important that industry professionals maintain a high level of proficiency,” said Brian Graff, CEO of the American Retirement Association and Executive Director of ASPPA. “The QKA credential was designed with that in mind, and we appreciate PenChecks’ continued commitment to this scholarship program as a way of bringing focus to the importance of the QKA credential.”

“PenChecks is proud to support ASPPA’s educational programs because we believe that highly motivated and well-trained professionals are essential to sustaining excellence across the retirement industry,” said Peter Preovolos, CEO of PenChecks Trust. “Over the last four years, we’ve seen a significant increase in the number of applicants. This reinforces our belief that developing qualified industry ambassadors will lead to continued industry innovation and thought leadership – areas in which PenChecks believes deeply.”

Applications for this year’s scholarship will be accepted between July 1 and September 20, and must be accompanied by a letter of recommendation. For more information about the PenChecks ASPPA QKA Scholarship and how to apply, visit https://www.asppa-net.org/penchecks-scholarship.

About PenChecks Trust

PenChecks Trust is a state-chartered, non-depository trust company and the largest independent provider of outsourced benefit distribution services and Automatic Rollover IRAs and Missing Participant IRAs in the country. With 25 years in business, PenChecks Trust (www.penchecks.com ) is an expert and industry-leading provider of unique and comprehensive solutions for a myriad of plan and distribution issues. Services include automated and branded solutions for benefit payments, election processing, missing participant searches, Automatic Rollover and Missing Participant IRAs, uncashed/stale-dated check solutions and Abandoned Plan/QTA Services. Customers include financial institutions, third-party administrators, plan advisors, and plan sponsors.

About ASPPA

ASPPA and its four sister organizations — ACOPA, NTSA, NAPA, and PSCA — comprise the American Retirement Association, the premier organization for more than 26,000 retirement plan professionals nationwide. Based in the Washington, DC area, ASPPA is a non-profit professional organization established to educate all types of retirement plan professionals, and to preserve and enhance the employer-based retirement plan system as part of the development of a cohesive and coherent national retirement income policy. For more information please visit www.ASPPA.org.

Supovitz Named to ERISA Advisory Council
American Retirement Association (ARA) | May 21, 2019

ARLINGTON, VA (May 21, 2019) — Marcy Supovitz, former president of the American Retirement Association, and founding President of the National Association of Plan Advisors, has been named to the ERISA Advisory Council.

The 15-member council provides advice to the United States Department on Labor on policies and regulations affecting employee benefit plans governed by the Employee Retirement Income Security Act of 1974 (ERISA).  Supovitz, one of six new members named to the Council, is a principal with Boulay Donnelly & Supovitz Consulting Group, Inc.  She has previously testified at the Labor Department’s 2015 hearings on the proposed fiduciary regulation, and was a driving force behind the creation of the National Association of Plan Advisors in 2011.

"The ERISA Advisory Council advises the Department's work in enhancing and preserving the health and retirement benefits of America's workers," said U.S. Secretary of Labor Alexander Acosta in announcing the appointments. "These professionals will help the council accomplish its goals. Their expertise will be a valuable complement to the Department's mission to protect workers' benefits."

By law, members of the ERISA Advisory Council serve for staggered three-year terms. Three members represent employee organizations (at least one of which's members are participants in a multiemployer plan). Three members represent employers (at least one of whom represents employers maintaining or contributing to multiemployer plans). Three members represent the general public. There is one representative each from the fields of insurance, corporate trust, actuarial counseling, investment management, accounting and investment counseling.  Supovitz, with over 35 years of experience in the employee benefits field, will represent the latter perspective.

“Throughout her career, Marcy has made significant contributions to the enhancement of our nation’s retirement security,” noted Brian H. Graff, CEO of the American Retirement Association.  “Her counsel and experience will be an invaluable addition to the voice of the ERISA Advisory Council.”

 

About the American Retirement Association

 

The American Retirement Association, based in the Washington, D.C. area, is a non-profit professional organization established to empower retirement plan professionals who are dedicated to building a better retirement for Americans. The American Retirement Association is comprised of five premier retirement industry associations; the American Society of Pension Professionals & Actuaries (ASPPA), the ASPPA College of Pension Actuaries (ACOPA), the National Association of Plan Advisors (NAPA), the National Tax-deferred Savings Association (NTSA), and the Plan Sponsor Council of America (PSCA).

For more information, visit www.usaretirement.org.  

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