The NAPA 401(k) Summit is coming up—and this week we asked readers to weigh in on some of the exciting workshop topics. And one lucky reader won a free registration!
That’s right, the 2022 NAPA 401(k) Summit will be held April 3-5, 2022 in Tampa Bay! (And you can find out more—AND REGISTER at https://napasummit.org.)
We know it’s still a couple of months away (though time flies!)—and that many of you haven’t yet got around to registering (though more than 100 advisors already have!).
But to help us plot out room assignments—and to get you thinking about the broad range of topics—this week we asked readers to weigh in on a set of panels—to tell us which of these they found most compelling—and yes, we’ve tried to make it difficult to choose. These are, after all, chosen for advisors by advisors!
We first asked readers to pick which of these sessions they found most compelling:
39% - “Out” Takes: (How to) Add a Decumulation Focus to Your Accumulation Focus
27% - Debt “Lode”: Why A Student Loan Solution Is Necessary For your Retirement Plan Clients
22% - Party “Animus”? What You Should be Getting from your TPA Partners—and What to Do if You Can’t
12% - “Driving” Range: Guiding, Driving and Divining Plan Committees
We got a number of reader comments on these topics—here’s a sampling:
I like this topic because I feel like as important as these meetings are, there are so many plan sponsors that do not care what I present to them. It is like pulling teeth to try and get them to sit down with me for just 30 minutes. I work in a team environment and we continue to discuss what is the best information to present to the committees.
Hearing how other advisors help with creating and working with Plan Committees is always interesting to me. I’m also interested in hearing more about the addition of a student loan solution would work within a 401k plan.
I love all of these questions, it would be good to see them all discussed (not concurrently).
What vendors are advisors having success with? Are plan sponsors recovering funds that have been allocated to student loans if an employee leaves early? How administratively cumbersome are these for plan sponsors?
Fund my erratic spending patterns—not some fake monthly amount ... that’s why I NEED an advisor—otherwise I can get along without one!!!
All of the topics are great, but I think student loans are top of mind for most plan sponsors and advisors.
Interested in the topic in part because strong committees appear to be one of the best ways to mitigate risk and protect a plan from litigation. However, the right committee will also drive innovation and seek to improve participant outcomes.
All sound like topics that I would have further interest.
Would like to get perspective of which types/sized of companies are implementing retirement income strategies.
I think decumulation will become much more important in the next 20 years.
Committee meetings are important.
Why academia is creating excessive debt for overpriced institutions (and incomes at graduation are upside down) and parents and kids as a result cannot save for their long term retirement funding. How do we effectively propose legislation that gives parents (saving for retirement) to control match and fund their kids’ college at the same time?
Hey can’t we push back on the regulators to design simpler solutions?
How do you see the DOL PTE in relation to decumulation?
We have had several clients ask about supporting their employees with their student loans.
Student debt is a very popular topic amongst committees.
I’d like to stay informed of the TPA model and where it may be headed in the future.
What service providers are available to human resources which will assist them in monitoring payments to student loans?
How can recordkeepers and TPAs partner to generate efficiencies and reduced cost to provide for a turnkey solution for fully integrated 3(16) and 3(38) solutions?
Of course, that was just one of several workshop groups—we asked readers to weigh in on this grouping as well:
29% - “Micro” Management: Building and Bettering a Small Plan-Focused Practice
27% - “Keep” Sakes: Value-Added Services that Will Help You Earn Your ‘Keep’
16% - Custom “Eyed”: The Evolution of Investment Lineup Construction and Custom Solutions
14% - Beyond BeFi: More Than Nudges—Behavioral Finance 2.0.
14% - Consolidate “Ed”: The Pros and Cons of Consolidation
We got a number of reader comments on these topics—here’s a sampling:
Like most retirement plan advisors, I try to avoid most start-up plans but I usually receive 5-10 referrals from CPAs each year. I’m definitely interested in hearing ideas on how to find efficient, profitable ways to take on and service start-up and smaller plans rather than turning them away.
State run concepts are here to stay but the investments associated with them are in question.
Does 2.0 mean anything if we don’t have educated participants?
Personalization/ customization in our industry still lags where we see it everywhere else in our lives. I had a conversation with my daughter (early 30s) who has a plan recordkept with one of the largest RK firms in our business, and there is an advisor on the plan (I can see it in the documents), but she feels there is no help, advice, or understanding of her needs. How does that happen today?
Not all consolidation is bad. Often times it solves problems before they become bigger problems.
Investment line up is an interest of mine so I would want to attend this topic.
How are advisors monetizing financial wellness?
You’ll want to go check out all of these (and more) at https://napasummit.org, along with descriptions of these great sessions!
Oh—and we also held a lottery for everyone who submitted a question for our panel(s) for a FREE registration to the 2022 NAPA 401(k) Summit—and the winner is…
Sabrina Peterson of Wilson Albers in Anchorage, Alaska!
We’ll have more opportunities to weigh in—and be eligible for a free registration to the 2022 NAPA 401(k) Summit—next week! Thanks to all who participated in this week’s NAPA-Net Reader Radar Poll!
