Washington Mud and Regulatory Maybes
Updated: May 9
Lately, do you feel like regulations are more like flipping a coin? Whether it is salt in the wound caused by the Conflict of Interest Rule or the stop-and-go patterns of interim final rulings, Washington the last few years has our industry rubbernecking at woulda, coulda, shouldas.
Each new passage has us with bated breath waiting for the change. How will it impact our business? Our clients? Then we frantically read about the updates, news and coming soon changes and we get ready. We arm our business with the necessary processes and procedures to operate in compliance. We seek out new vendor relationships that will comply with best practices. We attend hours of webinars and training. We intently alert our clients of what is happening and why they need to know. Then what? It stalls. Stops. Caput. It’s gone.
How on earth is anyone supposed to run a business like that, let alone an entire industry? It’s impossible. It makes us look like the boy who cried wolf, over and over again. It has to stop.
Why You Need to Support the PAC
Thankfully, we have an amazing lobbyist group that can stand tall in Washington and support our causes. They can meet with congressional leadership and voice which regulations are necessary, why we need them and even why certain regulations are superfluous.
However, they need your support. If you’re committed to the retirement plan industry, then this is your business - your livelihood. One way to help is a donation towards strengthening the voice of our appointed and it will give them the political capital to influence decisions that impact your bottom line.
Zooming into the NAPA Fly-In
Another way to get involved is to directly sit down with your state’s political leadership through the NAPA Fly-in. And you get a bonus this year, you don’t even need to travel. Join the Zoom conversation.
Tell your congressman or congresswoman what is going on and why they need to support or not support certain retirement plan legislation. Use your voice and influence to help them understand the important work that you do. Remind them how their vote can improve the retirement success for millions of constituents.
Stop the Ping Pong
Government needs to lead. Lack of strong leadership causes confusion, misinformation and distrust. That’s not good for anyone, but you have the power to help.
Join the retirement plan industry leaders and step up to make your voice heard. Support the PAC and help them lobby for important issues. Address your state’s leadership with examples of the great work that you are doing and how the retirement plan industry is improving retirement outcomes for millions of Americans. Because if we’re not our own biggest advocates, one day the government might serve us with regulations from which we can’t bounce back.
Thanks for reading and Happy Marketing!
Donate to the PAC >> https://www.usaretirement.org/pac
Join the NAPA Fly-in >> https://napadcflyin.org/
Attend the NAPA Summit >> https://napasummit.org/
401(k) Marketing is the modern marketing agency for the retirement plan industry. We are proud to support our clients through custom engagements, content marketing campaigns, sales material innovations, thought-leadership consulting, interactive workshops and speaking events. Our mission is to empower the retirement plan industry with high-quality marketing, ultimately inspiring Americans to become financially prepared for their future.
Retirement Plan Marketing is the solution for retirement plan advisors looking for an ongoing and scalable marketing process to generate awareness, streamline sales opportunities and earn more 401(k) business. This comprehensive, strategy driven marketing program includes digital content and sales material specifically designed to help retirement plan professionals attract the right decision makers.