As part of NAPA’s ongoing efforts to educate our members on the importance of participating in the political process, NAPA Political Director Jim Dornan will be contributing articles on what NAPA is doing on behalf of its members on Capitol Hill. This first report in Jim’s “NAPA on Capitol Hill” series explains NAPA’s political action committee (PAC).
Political action committees (PACs) allow groups of citizens with common interests to express their constitutional right to participate in the election/campaign process. PACs channel this involvement in a fully disclosed and financially limited manner. The NAPA PAC allows NAPA to pool its members’ financial resources to participate collectively in the election/campaign process. In this way, the PAC strengthens NAPA’s voice in Congress — political contributions merely open the door so it can be heard.
By law, only a PAC, and not organizations like NAPA, can make political contributions to candidates. NAPA members contribute to the PAC; in turn the PAC makes campaign contributions to candidates for federal office who demonstrate interest in and support for the employer-based retirement system. Only ASPPA and NAPA members (credentialed and non-credentialed), their spouses and ASPPA employees may join and contribute to the PAC. Federal law prohibits soliciting contributions from individuals who are not members of NTSAA. Any contribution received by NTSAA PAC by a nonmember will be returned. Note that only individuals can contribute; company contributions are not permitted under federal law.
The PAC contributes to the campaigns of both Democrat and Republican candidates for federal elective office. Political ideology is not a consideration. We are strictly a bipartisan organization, with the needs of the employer-based retirement system coming first. For example, we attended both political conventions in 2012 and were able to secure meetings with key members of both the House and the Senate to educate them on our issues.
In its short history, the NAPA PAC has strengthened the ASPPA/NAPA Government Affairs program, which has had a substantial impact on the private, employer-based retirement system served by NAPA members. For example, ASPPA’s Government Affairs Committee, supported by the PAC, played a significant role in the successful effort to make improvements to the private retirement system permanent in the Pension Protection Act of 2006.
Today, the PAC helps us spread the word about the effectiveness of tax incentives for employer-based retirement plans as Congress prepares to debate tax reform, as well as the need for regulations that are prudent and don't overreach.
NAPA’s ideas and philosophies are good policy, and making sure these ideas and philosophies get a fair and adequate hearing is why the NAPA PAC exists. NAPA members who choose to become members of the PAC by contributing to it help NAPA make sure that Congress understands what’s needed to protect Americans’ retirement security.
For more information on the PAC, click here.
Jim Dornan is the Political Director of ASPPA and NAPA. You can reach him at [email protected].
