In 2009, a small group of plan advisors first discussed the need to create a group representing their interests. Back then they knew two things: there was no group filling that role in Washington, and there should be.
Fast forward to today. Plan advisors are facing a degree of adversity that we’ve never seen before. Congress is looking for tax revenue at the expense of workplace retirement plans. That puts the viability of the U.S. retirement system at risk. The Obama administration believes that it’s appropriate for the government to tell Americans when they’ve saved enough for retirement. That hurts individual savers and employees of small businesses. And the pop media eagerly scapegoats advisors while providing analysis that’s shallow at best, and adversarial at worst.
Clearly, these are times that test our resolve. And that’s why, now more than ever, NAPA is the strong, clear voice of the retirement plan advisor in Washington.
By virtue of its close relationship with ASPPA, NAPA is able to leverage the knowledge and experience of ASPPA’s government relations staff, long regarded as one of the most respected and effective in Washington. These advocates truly have your back —
- helping shape regulatory initiatives at the DOL, IRS and SEC;
- educating members of Congress and their staffs about how America saves and the value of plan advisors in that process; and
- representing the interests of plan participants, plan sponsors and plan advisors as legislation is developed and refined on Capitol Hill — and in state capitals around the country.
No other group does that for plan advisors. And those who do represent other elements of the financial services industry look to ASPPA’s efforts as a model of effectiveness and authority. In other words: clout.
That’s not all. Here are two other important ways NAPA is working for America’s retirement plan advisors:
In 2012, NAPA and ASPPA launched the Save My 401k campaign to protect the tax incentives of employer-sponsored retirement plans from the threat of tax reform. The goal: to educate members of Congress and urge them to preserve those tax incentives. The campaign uses the power and emotion of social media to raise awareness and action on the part of employers and plan participants.
Click here to learn more about ARA’s Political Action Committee!