NTSA Executive Director Brent Neese clearly outlined industry trends in a statistics-packed session at the recent NTSA 30th Anniversary Summit and discussed how they will affect us.
Neese recapped results from the NTSA’s 2018 Public Education Retirement Security Survey, and related how important it is for members to be aware of the evolution of the 403(b)/457(b) industry.
Some of the noteworthy industry trends he mentioned were:
- since 2009, nearly all states have gone through pension plan reforms;
- the Securities and Exchange Commission (SEC) has stated that it will focus on 403(b) and 457(b) retirement accounts and products in its reviews;
- ERISA excessive fee lawsuits have continued to increase since 2014; and
- many school districts are seeing 403(b) plan participation decrease as they reduce the 403(b) plan options they offer.
Policies at the state and federal level continue to affect the future of tax-exempt retirement plans as well. And that is part of the reason NTSA’s continued advocacy and education is so valuable.
Erika DeBlasi is the president of Advisor Expressions.
Opinions expressed are those of the author, and do not necessarily reflect the views of NTSA or its members.
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