NTSA Continues Shameful Campaign Against California Public Employees

There is only one thing more scary to the insurance 403(b) industry than the word Fiduciary, auto-enroll.

This is my opinion.

Back in 2012 I spoke at a Town Hall in North Carolina to announce a new statewide 403(b) program that was just passed by the state legislature (yes, North Carolina did pass one law that we can all get behind). The audience was a group of insurance companies and insurance agents and they were angry, very angry. They did not like that the state wanted to offer a fiduciary based 403(b) program for teachers and they made their displeasure known.

American Retirement Association Opposed CA Auto-Enroll For Public Employees

You'd think that an organization with the word "retirement" in their name would actually support...retirement. This is not the case in California where the American Retirement Association's "premier" associate the National Tax-Deferred Savings Association (NTSA) has written a letter opposing Senate Bill 1297 which is aimed at easing the ability of public employers (including teachers) to auto-enroll their employees into quality supplemental retirement plans.