Real Estate Postcard Marketing Arkansas - PowerPoint
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2009 Government Member Annual Business Session September 16, 2009 Austin, Texas Call to Order Alex Turner, State of Arizona 2008-2009 Association President, Presiding Officer Approval of 2008 Business Session Minutes NAGDCASTS (Alex Turner) • 3 NAGDCASTS to date – 403(b) Final Regulations - February – Legislative Update - April – Saving and Surviving / Education about Current Market September – Nearly 100 participants per webcast – Rated 8/10 for content/presentations • NAGDCAST scheduled for Fall 2009 on Plan Sponsor Investment Oversight /Investment Performance • 3 NAGDCASTS will be offered in 2010 (Topics TBD) Overview – 2009 Committee and Task Force Reports Annual Conference Automation of DC Plans Awards Education Industry Investment Policy Legislative Membership National Save for Retirement Week Publications Survey Annual Conference Committee Edward Lilly, State of New York, Chair Mike Abkowitz, Great-West Retirement Services Kimberly Alger, ING Linda Barber, Nationwide Retirement Solutions Alex Hannah, ICMA-RC Doug Miller, Suffolk County (NY) Edward Rutherford, Larimer County (CO) Kurt Walten, National Association of Real Estate Investment Trusts (NAREIT) Della Williamson, State of Texas Annual Conference (Edward Lilly) “Finding the Right Notes for Retirement” – 17 topics, 27 sessions – Breakout sessions by plan size – 57 member speakers, 5 outside speakers – Welcome to first time attendees – Evaluation in CyberCafe or via NAGDCA’s website after conference Annual Conference (Continued) • Number of Delegates as of 9-16 a.m. • Number of Students as of 9-16 a.m. • InFRE pre-conference workshop – Number of attendees • Offered continuing education credits for conference sessions – CFP and CPE for fourth year in a row • Booth presence by: – InFRE – IRS Outreach/Communications Team – Austin Concierge Table (CVB) – Philadelphia Concierge Table (CVB) Wednesday Only Approval of Conference Sponsor Resolutions *List of Sponsor Resolutions Included in Packet Automation of DC Plans Task Force Kurt Walten, National Association of Real Estate Investments Trusts (NAREIT), Chair Tim Berry, State of Indiana Dick Davies, AllianceBernstein Michael Halpin, State of Maryland Brian McCleave, Prudential Polly Scott, State of Wyoming Automation of DC Plans (Polly Scott) • Purpose of task force was to study DB-like features in DC plans and provide education to NAGDCA members • Task force divided topic up into sections – auto everything, diversified investments, investment vehicles, and income guarantees • Contacted plans who currently have auto enrollment to help develop publication • Publication available on NAGDCA website Awards (Carrie Pierce) Carrie Pierce, State of California, Chair Karen Becker, County of Ventura (CA) John Megariotis, State of New Jersey Iris Ward, ING Awards (Continued) • Received 53 leadership recognition award entries – 19 In Plan Design and Administration – 26 In Effective Communication – 8 In National Save for Retirement Week • All entries were recognized for innovations that resulted in a sound improvement in their plans • Awards publication in conference bags highlight all plans and entries and can also be viewed on the NAGDCA website Awards (Continued) • Top 3 nominations in each category received a Special Award of Distinction – Plan Design and Administration – Effective Communication – National Save for Retirement Week • Congratulations to all award winners • Plaques will be given to you and your photo will be taken on Wednesday night Awards (Continued) NS4RW 2009 Leadership Award Winners Special Award of Distinction: • Ventura County, CA • Metropolitan Water Reclamation District of Greater Chicago • State of New Jersey Awards (Continued) NS4RW 2009 Leadership Award Winners Other Award Winners: • City and County of Honolulu, HI • City of Edmond, OK • City of Houston, TX • City of San Jose, CA • State of Florida Awards (Continued) Plan Design and Administration Leadership Award Winners Special Award of Distinction: • CalPERS • County of San Bernardino, CA • State of Oklahoma Awards (Continued) Plan Design and Administration Leadership Award Winners Other Award Winners: • City and County of San Francisco, CA • City of Aurora Fire, CO • City of Aurora Police, CO • County of Los Angeles, CA • King County, WA • NY Metropolitan Transportation Authority • Multnomah County, OR • Oakland County, MI • State of Arizona • State of Florida • State of Hawaii • State of Michigan • State of New York • State of North Carolina • State of South Carolina Awards (Continued) Effective Communication Leadership Award Winners Special Award of Distinction: • City of Portland, OR • County of San Bernardino, CA • State of New Jersey Awards (Continued) Effective Communication Leadership Award Winners Other Awards: • CalPERS • County of Los Angeles, CA • CalSTRS • Johnson County, KS • NY Metropolitan Transportation • City & County of San Francisco, CA Authority • City of Aurora Fire, CO • San Diego County, CA • City of Aurora Police, CO • State of Florida • City of Kansas City, MO • State of Hawaii • City of New York, NY • State of Indiana • Commonwealth of Kentucky • State of New Jersey • Commonwealth of Massachusetts • State of New Mexico Education Task Force Regina Hilbert, Retired, Formerly with Suffolk County (NY), Chair Linda Barber, Nationwide Cathie Eitelberg, The Segal Company Tom Potts, Baylor University Mary Willett, Willett Consulting Education Task Force (Regina Hilbert) • Developed presentation to help further education about the differences between public sector and private sector defined contribution plans • Speakers from public and private sector visited 3 universities this Spring – Concordia University – Portland – Southern Arkansas University – University of Georgia • Evaluations from speakers, professors, and students rated the program very high • Program will continue in the Fall; NAGDCA will be soliciting for speakers and universities who want to participate Industry Committee Janet Kendall, ING, President Kurt Walten, National Association of Real Estate Investment Trusts (NAREIT), Vice-President Michael Studebaker, Nationwide Retirement Solutions, Secretary Rod Crane, TIAA-CREF, Treasurer Alex Hannah, ICMA-RC, Member-At-Large Julie Klassen, Great-West Retirement Services, Member-At-Large Tim Rouse, Fidelity Investments, Past President Industry Committee (Janet Kendall) • Industry Roundtable meeting – May 14-15 in Washington, DC • Focused on legislative and operational issues facing industry members – Four discussion groups • Fixed Accounts in a Volatile Market: The Good, the Bad and the Ugly • Market Volatility and Retirement Plans • Auto-Everything • Fiduciary Responsibilities: New Areas of Concern – Outcomes from roundtable meeting are being followed up on by industry committee and NAGDCA Board – Plan to hold 6th roundtable meeting in Spring 2010 Investment Policy Task Force Gay Lynn Bath, State of Oregon, Chair Jayson Davidson, Hyas Group Lori Doyle, CalPERS Gregory Settle, Aon Investment Consulting Investment Policy (Gay Lynn Bath) • Reviewed NAGDCA investments • Recommended investment transfers based on investment policy • Reviewed investment fund performance Legislative Committee Mindy Harris, Multnomah County (OR), Chair John Barry, State of Maryland Michelle Berklacich, State of California Marilyn Collister, Great-West Retirement Services Ralph Marsh, City of Houston Tim Rouse, Fidelity Investments Joseph Zisa, State of New Jersey Susan J. White, NAGDCA Legislative Counsel Legislative Committee (Mindy Harris) • Made contact with key legislative staff and Treasury officials throughout the year on pension legislation issues – Roth 457 • Hill visits – Executive Board and Susan J. White, NAGDCA Legislative Counsel • Regular Legislative Committee meetings • Worked to get National Save for Retirement Week resolutions introduced in House and Senate; working on permanent legislation • Worked closely with Treasury on recommending administrative approach to refundable Saver’s Credit to be deposited directly into retirement accounts Membership Committee Eric Sanderson, Ohio PERS, Chair Rod Crane, TIAA-CREF Tara Hagan, State of Nevada Beth Kushner, City of New York Andy Silva, OptumHealth Financial Services Membership (Eric Sanderson) • Focused on member retention and recruitment from 403(b) and local government plans • Conducted membership satisfaction and exit survey • Developed an e-postcard about NAGDCA for industry members to send to their clients. • Exhibited at Government Finance Officers of America (GFOA) and plan to exhibit at Association of School Business Officials (ASBO) in October and Congress of Cities in November. • To date, we have 14 new members. Welcome!! National Save for Retirement Week Committee Kandi Winters, State of Florida, Chair Mauriel Avina, Prudential Dean Carothers, Monterey County (CA) Brayton Connard, County of Monroe (NY) Jeanine Keller, City of Portland (OR) Pattie Price, County of Ventura (CA) Peter Schaffer, Davis Selected Advisors LP Milly Stanges, ICMA-RC National Save for Retirement Week (NS4RW) (Kandi Winters) • October 18-24, 2009 • Theme is “Urgent Message From Your Future” • Your colleagues are doing it! • We can make it easy. Materials to promote NS4RW are available on NAGDCA website including a communication plan to guide your marketing efforts. • It works!! • Thanks to everyone who promoted it last year! Everyone is encouraged to support it!! Public Relations Task Force Laura Whitlock, Great-West Retirement Services, Chair Barbara Healy, SST Benefits Consulting & Insurance Services Geraldine Jimenez, CalPERS Patrick Ray, Nationwide Retirement Solutions Yvonne Tate, City of Bellevue (WA) Robert Toomey, State of South Carolina Mary Willett, Willett Consulting Public Relations (Geraldine Jimenez) • Promote & define NAGDCA • Increase membership & participation • Identify benefits: Government & Industry Public Relations (Continued) • Developed YouTube video with testimonials • Visit www.nagdca.org and look under News and Events • Produced by Bob & Mary Willett • Decided against maintaining Twitter & Facebook sites Public Relations (Continued) Where now? • Develop 2nd YouTube video to promote NAGDCA Annual Conference • Clips of members being taken at this year’s conference to promote future conferences • Coming to a website near you! Publication Committee Kathy Samson, State of Montana, Chair Ronald Campana, ING Regina Hilbert, Suffolk County (NY) Kamila Kowalke, Dow Jones Keith Overly, State of Ohio James Sia, Wellington Management Company Publications (Kathy Samson) Developed three new brochures (available online and in your conference materials) – Is “Your Mattress” a Valid Retirement Savings Option? – Plan Sponsor Basics for Retirees – NAGDCA Plan Sponsor Brochure Publications (Continued) • Developed two NAGDCA Notes – 1 page summaries of key issues or topics (available online) – 2009 RMD Waiver – National Save for Retirement Week • Third NAGDCA Note to be published after annual conference – Emergency Withdrawals Survey Committee Edward Zagajeski, NY Metropolitan Transportation Authority, Chair Jane Evancho, City of Tacoma (WA) Rebecca Gill, Nationwide Retirement Solutions Marlene Hoskins, ICMA-RC John Nielson, Great-West Retirement Services David Turla, County of Los Angeles (CA) Survey (Ed Zagajeski) • Two DC Plan Surveys • Nearly a 50% response rate for both surveys • Survey results available online • Survey results are used as benchmarking tools and to help develop trends; very useful when lobbying for NS4RW and various legislative issues • Important for policymakers to know what is going on across the country and in the “real” world • Thanks to everyone who responded to surveys! 2009-2010 Strategic Priorities (Ed Lilly) • Executive Board meeting will be held in November 2009 • Continued commitment to member solicitation • Continued support of ANC Foundation • Focus on continuing enhanced publications and informational materials 2009-2010 Strategic Priorities (Continued) • Plan to hold industry roundtable meeting in Spring 2010 • Plan to hold three NAGDCASTs in 2010 • Continue marketing National Save for Retirement Week • Continue marketing NAGDCA to higher education community Association Financial Overview (Gay Lynn Bath) • NAGDCA 2008 Financial Review Report • NAGDCA Review of Assets/Fund Balance • 2009 Budget Review • Proposed 2010 Budget NAGDCA Audit • NAGDCA’s policy is to conduct an audit every three years; financial review is performed in other years • Conducted financial review on 2008 financials • No exceptions to report NAGDCA Assets NAGDCA Financial Review 2003 - 2008 $1,200,000 $1,000,000 $800,000 Assets $600,000 $400,000 $200,000 $- 2003 2004 2005 2006 2007 2008 Year NAGDCA Operating Reserve • NAGDCA’s investment policy goal is to have one year of expenses on reserve • Operating reserve is projected to be at 99% at 12/31/09 and at 91% at 12/31/10 2009 Budget Comments • Overall revenue for the year is projected to be down for the year due to membership dues and conference registration revenue projected to be lower than budgeted revenue. Expenses have been monitored closely and are projected to be in line with the overall budget for the year. • NAGDCA is projected to end the year with a deficit of $59,885. • As noted, NAGDCA is projected to have 99% of our operating budget in reserves at the end of 2009. 2010 Budget Comments Items of significance include: • Plan to have a deficit of $77,433 for 2010 • Board reviewed budget carefully to decrease expenses where possible (marketing budget, Board budget, travel budget) • Made sure services that directly impact members were not affected • Continue offering continuing education credits at annual conference • Other programming will be maintained at current levels 2009-2011 Fund Balance Projections NAGDCA 2009 - 2011 Fund Balance Projections $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $- 2009 2010 2011 GOAL: 1 yr. operating reserve (based on 2009) 2010 Budget Approval of 2010 Budget Nominations/Elections (Mindy Harris) 2009-2010 Executive Board Nominations Committee Mindy Harris, Multnomah County (OR), Chair Ralph Marsh, City of Houston (TX) Della Williamson, Retired Member, Formerly with the State of Texas Tony Hines, Commonwealth of Pennsylvania John Barry, State of Maryland Georgette Gestely, State of New York Member-at-Large Eric Sanderson, Ohio PERS 2009-2010 Member-at-Large 2009-2010 Executive Board Slate President Ed Lilly, New York Vice President Gay Lynn Bath, Oregon Secretary/Treasurer Julia Durand, CalSTRS Past President Alex Turner, Arizona Previously Elected: Member-at-Large -1 Tom Mueller, Sanitation Districts of Los Angeles County Member-at-Large -2 Eric Sanderson, Ohio PERS Industry President Kurt Walten, NAREIT Industry Observer Janet Kendall, ING Old Business New Business • Approval of Constitution Amendment • Approval of Retiree Membership Benefits InFRE Update Betty Meredith Director of Education and Research, InFRE 2010 NAGDCA Annual Conference September 11-15, 2010 Philadelphia Marriott Downtown Philadelphia, PA Hotel Reservations and Conference Registration will open in April 2010 Adjournment THANK YOU!