NIPA Board of Directors
Patrick M. Shelton, GBA
Benefit Plans Plus LLC
Michelle Marsh, QKA
Retirement Plan Concepts & Services, Inc.
Chief Financial Officer
Joseph Burt, APR, ERPA, QKA, QPA
Pension Plan Specialists
Immediate Past President
Ann Slotwinski, APR
John Hancock Financial Services
Executive Committee Member-at-Large
Darren Holsey, APA, ERPA, QKA, QPA
Premier Retirement Services, Inc.
Abacus Benefit Consultants, Inc.
Ralph DelSesto, APR
James Eberhardt, APA
Pension Services Corporation
Trina Gross, APA, QKA
Acuff & Associates, Inc.
Emily Lichtenwalner, APA, AIF
T R Paul Inc.
Michael B. Stuber, ERPA, QPA
||March 22, 2016
We all know and agree small business owners represent at least 85% of all the businesses in the United States. In order to attract talented, experienced employees and loyal employees, they are faced with many challenges;
- Continuation / Competition of their business enterprise
- Competitive Employee Wages
- Employee Benefits – Offering Health Insurance, Vacation and Retirement Plan
- Flexible Working Hours
- Less governmental intervention
We know the government is encouraging the private sector to offer a “meaningful” retirement plan but, at what cost or detriment to the small business owner. Since 2008 we have seen the decline in the stock market, the housing bubble burst, unemployment increase, LESS talented experienced employees available and the shrinkage of personal savings especially retirement plan accounts. During the last 3 years we have seen a slight increase in the formation and improved employer contribution patterns to retirement plans. We do not want this to decline. The new “proposed” Non-Discrimination rule would only add to an already complex set of Regulations that would slow or reduce the implementation of private sector retirement plans.
Speaking for the small business owner we ask, that you not impose the new Non-discrimination rule. As a third party administrator, let us continue the good work to encourage employers to keep their retirement plans, start new plans and help supplement the retirees who will also collect Social Security.
Since we are in the field every day, help our industry promote the advantages of continuing the promotion of small business retirement plans, establish a procedure for TPA’s to efficiently administer retirement plans and pass legislation toward that end. Legislate additional incentives for implementing a retirement plan, promote the continuation not elimination of private sector qualified plans. It is vital to the private sector that small business retirement plans remain an optimum solution for all employees to retire with dignity. "Collectively, the Federal Government, third party administrators, investment companies should develop a national campaign on the saving for retirement. Employers and employees will view this as a positive cause to move the undecided to save for retirement."
Laura J. Rudzinski, Executive Director