Nate’s Notes

As most of the state legislative sessions have adjourned, the amount of bills the NTSA reviews daily has decreased. This has given us an opportunity to reenergize projects that were put on the back burner during the intense legislative calendar. 

But First: Illinois Success!

We have wonderful legislative news in Illinois. Our bill, which unanimously passed in both the Illinois house and senate, went to Gov. JB Pritzker’s desk this month. He now has 60 days to sign the bill and make it law; it will automatically become law if he does not do so within those 60 days. We are excited to see things progressing well for the educators in Illinois.

Collective Investment Trusts

At the federal level, we are focused on the Recovering Executive Compensation Obtained from Unaccountable Practices (RECOUP) Act. This bill could act as a vehicle to allow 403(b)s to offer collective investment trusts (CITs). Overall, we support this bill and want to be able to provide CITs as an option in 403(b) plans; there are a couple of issues in the bill that we are helping to correct.

And Now…

With our focus shifting from state legislation, our energy is primed and ready to review state coverage plans and closing the gap where possible. 

We have also turned our attention to strengthening the CRES program as well as planning an amazing 35th anniversary event at our summit in sunny San Diego in February 2024. 

The CRES program recertification process is becoming easier to complete and easier to remember. Now, instead of a bootcamp that one must attend by the end of June, recertification will require a specific number of CE hours (completed either at the NTSA Summit or online) and will be due by Dec. 31 in order to be in compliance for the following year. Expect to see this rollout in the first weeks of July. 

These summer months with most state legislatures out of session, the NTSA, our staff, and our volunteers are putting tremendous effort into strengthening our education and training opportunities. We will maintain our relationships with legislators and staffers to help them understand our industry and why advisors are vital to the successful retirement of educators across the country.

Thank You!

Thank you for the support for all educators and others working in the nation’s non-profit sector. Keep up the great work!