John Marshall Law School 403(b) Course Presentation-October 2011

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JOHN MARSHALL LAW SCHOOLNON-TRADITIONAL RETIREMENT PLANSEB 368aBUOctober 7-8, 2011 : 

JOHN MARSHALL LAW SCHOOLNON-TRADITIONAL RETIREMENT PLANSEB 368aBUOctober 7-8, 2011 New Rules for Non-Traditional Retirement Plans-Market Discussion By Jerry Kalish President, National Benefit Services, Inc. © 2011 National Benefit Services, Inc.

The New World of 403(b) and 457 Plans : 

The New World of 403(b) and 457 Plans © 2011 National Benefit Services, Inc.

Our Agenda : 

Our Agenda The ever expanding 403(b) and 457 market What employers and employees need New opportunities for advisors including attorneys © 2011 National Benefit Services, Inc.

The Ever Expanding 403(b)and 457 Market : 

The Ever Expanding 403(b)and 457 Market © 2011 National Benefit Services, Inc.

Who are the “Interested Parties”? : 

Who are the “Interested Parties”? Employee (Plan participant) Beneficiary Employer (Plan Sponsor) Board members The public © 2011 National Benefit Services, Inc.

The Big Players : 

The Big Players Diversified Hartford Great-West MassMutual MetLife OneAmerica Principal AXA Fidelity ING Lincoln Prudential VALIC TIAA-CREF © 2011 National Benefit Services, Inc.

Service Models : 

Service Models Bundled Unbundled Alliance © 2011 National Benefit Services, Inc.

Other Players : 

Other Players Third party administrator Common or volume remitter Investment advisor Legal counsel CPA Other interested parties: IRS, DOL, SEC, FINRA, States © 2011 National Benefit Services, Inc.

The Size of the Market:The $$$ : 

The Size of the Market:The $$$ 403(b) estimated to grow from $703 billion in 2010 to nearly $900 billion in 2015: Cerulli Associates Non-profit retirement plan assets in excess of $2 trillion counting defined benefit plans: Center for Due Diligence (CFDD) © 2011 National Benefit Services, Inc.

Size of the 403(b) Market:The Coverage : 

Size of the 403(b) Market:The Coverage Source: Source: RG Wuelfing & Associates, 2008 Retirement Research © 2011 National Benefit Services, Inc.

What Employers and Employees Need : 

What Employers and Employees Need © 2011 National Benefit Services, Inc.

Employers Need Help : 

Employers Need Help Understand their new role Understand their new responsibilities Identify and correct compliance issues Review provider and investment options Provide employees with the best opportunity for a favorable retirement outcome © 2011 National Benefit Services, Inc.

Employees Need Help : 

Employees Need Help Start contributing early Understand how much money will be needed Do a better job of investing Take advantage of the retirement savings programs offered by their employers © 2011 National Benefit Services, Inc.

New Opportunities for Advisors Including Attorneys : 

New Opportunities for Advisors Including Attorneys © 2011 National Benefit Services, Inc.

Registered Investment Advisors (RIAs) : 

Registered Investment Advisors (RIAs) Managing the fund lineup Providing investment advice to participants  TIAA-CREF is creating an RIA-only pre-screened list for referrals © 2011 National Benefit Services, Inc.

Third Party Administrators (TPAs) : 

Third Party Administrators (TPAs) American Society of Pension Professionals and Actuaries (ASPPA) 2010 Survey Nearly 70% administer 403(b) plans, but only 2% of revenues 50% increase in number of plans administered in 2009 © 2011 National Benefit Services, Inc.

Transparency Task Force : 

Transparency Task Force National Tax Sheltered Accounts Association (NTSAA) American Society of Pension Professionals and Actuaries (ASPPA) National Education Association (NEA) Association of School Business Officials International (ASBO INTL) Model disclosure form to make it easier for school employees to compare retirement plan options © 2011 National Benefit Services, Inc.

Profit Sharing/401(k) Council of America : 

Profit Sharing/401(k) Council of America Soon to be known as Plan Sponsor Council of America (PSCA) Include advocacy for 403(b) plan sponsors © 2011 National Benefit Services, Inc.

403(b)/457 BusinessEntry Points : 

403(b)/457 BusinessEntry Points © 2011 National Benefit Services, Inc.

Slide 20: 

The 403(b) and 457 market continues to expand. Employers and employees need help. This creates new opportunities for advisors (including attorneys). © 2011 National Benefit Services, Inc.

Slide 21: 

Special thanks to Retirement Resources, Inc., (www.rricentral.com) for access to their proprietary research in their August, 2011 Study, 403(b) Market Overview: Life After the Regs-Implications and Opportunities.

For up to date information about 403(b) and 457 Plans … : 

For up to date information about 403(b) and 457 Plans … © 2011 National Benefit Services, Inc.

Visit Bob Toth’s blogwww.businessofbenefits.com : 

Visit Bob Toth’s blogwww.businessofbenefits.com

Visit Our Blogwww.retirementplanblog.com : 

Visit Our Blogwww.retirementplanblog.com

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