At this year’s National Association of Government Defined Contribution Administrators (NAGDCA) conference, AndCo Executive Director and Senior Consultant Steve Gordon was honored to act as moderator for a lineup of industry experts including Steve Ferber of PIMCO, Keith Overly of the Ohio Deferred Compensation Program and Jean Young of Vanguard. These professionals came together in Milwaukee to discuss the data collected in a new and extremely valuable public plan Defined Contribution (DC) survey.
What made this survey so valuable was that it was comprised solely of non-taxable, public defined contribution and deferred compensation plans. While participant and sponsor level DC plan surveys are not uncommon, they are typically limited to widely available ERISA data or the clients of a particular vendor, such as the recordkeeper housing the data. Since non-taxable public plans are not subject to filing data-rich form 5500s with the IRS, we are often reliant upon the significant time, energy and cost of requesting this data on a plan-by-plan basis.
As a method of data collection, surveys become more useful with each qualified participant, and representing 62 plans, $116 billion in assets and with 2.4 million participants providing data for the NAGDCA 2017 conference, we have been able to yield some powerful analytics for benchmarking. Moreover, this level of data was, until this point, largely unavailable in the public sector.
Watch how the panel of experts interpret the rare and invaluable data collected on public plan, DC sponsors for the NAGDCA 2017 conference.
We regard the NAGDCA 2017 conference as a complete success, not only analyzing what the data is telling us, but how we should interpret it. Thanks to Steve Gordon for representing AndCo and all of the speakers who made this event such an enriching experience.