Each of us has the obligation and opportunity to carry our message to lawmakers on the Hill.
A gift in serving as the NAPA President has been the strategic conversations that I have had with those whose knowledge and energy motivate me to continue to do more.
We have many impactful individuals effectively enhancing and protecting our industry and the lives of all working Americans. And, as with many of you, there is no shortage of areas that I want to make an impact on myself, not just through my term but for years to come.
As someone who has prided herself in contributing to causes that I am passionate about, I needed to learn how our industry was being protected. In fact, it is one that is so important that without it, the future of what we do is at risk. Over the past few years, I have witnessed the true impact that our peers, along with the powerful team at the American Retirement Association, were making through advocacy efforts.
Advocacy helps public policymakers who need—and often want—our input. Each of us has the obligation and opportunity to carry our message to lawmakers on the Hill with our voice and through financial support through the ARA PAC.
For those unfamiliar, the American Retirement Association’s bipartisan political action committee (ARA PAC) and our PAC Endorsed Candidate program are critical to advancing ARA’s policy priorities and strengthening the private retirement industry’s voice in Congress.
In 2022, member support of the ARA PAC was essential in educating legislators who helped us get the SECURE 2.0 Act across the finish line. And anyone who has attended a NAPA Fly-In had a front-row seat to witness the impact that our presence makes.
Just weeks ago, I had the pleasure to join over 200 delegates at the 2023 NAPA Fly-In, more than ever before. Over two days, there were over 160 meetings with representatives thanks to the hard work of the ARA team.
Delegates from across the nation represented different firms and experiences, all united with one purpose of protecting the private retirement system. Everyone I spoke with left filled with a sense of empowerment and armed with the knowledge that our voice mattered and there is an unceasing need for our presence.
Since leaving Washington, D.C., we’ve witnessed how continued work needs to be done with the SEC’s controversial swing-pricing proposal, the DOL’s continuing efforts to promulgate a rule on “Conflict of Interest in Investment Advice” to revise the definition of fiduciary. Alternatively, we all celebrated the success that the advocacy efforts had when learning of the transition relief for two years from the Roth catch-up contribution requirements under Section 603 of the SECURE 2.0 Act.
The unrelenting energy needed to continue protecting the private retirement system requires members’ participation through our unified voice and resources. You can make a financial contribution and learn more at araadvocacy.org. The ARA PAC can assist you in contributing based on your respective firms, and for contributions under $200, disclosure of contributors is aggregated.
Last month, I joined, for the first time, the NAPA Non-Qualified Deferred Compensation conference that began in 2018 by Brian Graff, Jeff Acheson, and a few others.
As with many of you, my days are full, so having the opportunity to learn from experts over two days and bring that knowledge to my clients is something that I cannot pass up. Our clients count on us to bring them solutions, and this is a tool that we all need in our toolbox, as stated by my predecessor, Corby Dall.
A couple of other items that I would like to share is that our DEI&B committee has been identifying the priorities and goals they will be rolling out in the coming months, and I look forward to supporting their efforts.
And our Women in Retirement Conference (WiRC) committee has been working hard on a powerful agenda. If you are a female leader or can sponsor a female leader, this will be an event to remember January 10–12, 2024, so look out for registration information that will be coming soon.
I leave you with a quote from Benjamin Franklin, “Tell me and I forget, teach me, and I may remember, involve me and I learn.” My involvement in committees, conferences, conversations, and decisions has been nothing short of rewarding, and I encourage each of you to get involved. And, to those who have allowed me the opportunity to gain knowledge from, I thank you.
I am honored to work alongside each one of you and serve as your NAPA President. Also, get out your calendars and save the date for NAPA Summit 2024 on April 7–9 in Nashville!
Renee Scherzer is a Senior Vice President of OneDigital’s Retirement + Wealth division specializing in retirement plan consulting. This is her inaugural column as NAPA’s 2023/2024 president.
