NTSAA Votes to Combine Operations with ASPPA
ARLINGTON, VA, December 10, 2009 -- This week, members of the National Tax Sheltered Accounts Association (NTSAA) voted overwhelmingly in favor of combining operations with the American Society of Pension Professionals & Actuaries (ASPPA). The combination, which takes effect in January, will provide enhanced benefits for members of both organizations.
NTSAA President Christopher M. DeGrassi stated that the new relationship brings together the best of both worlds: "ASPPA is the recognized leader in the private pension and employer-based marketplace. NTSAA is the leader in the non-profit 403(b) and 457 markets. By combining our operations, we now have professional education and advocacy in one place for all retirement plan professionals."
NTSAA and ASPPA have already demonstrated their ability to work well together. Earlier this year, the two organizations created the Tax-Exempt & Governmental Plan Consultant (TGPC) credential, an educational program for specialists in the 403(b) and 457 markets. "NTSAA and ASPPA share similar missions and goals," said ASPPA President Sheldon H. Smith. "Because of our success with the TGPC credential, the boards of directors of both organizations recognized a greater opportunity-the opportunity to build strength and enhance member value by combining operations."
The new relationship will provide ASPPA with another layer of retirement plan expertise-the non-profit marketplace-which some ASPPA members have already begun to explore. For NTSAA, the new structure will provide its members with greatly needed representation on Capitol Hill. "The more total members we have, the louder our voice in Washington," said ASPPA Executive Director/CEO Brian H. Graff. "Our goal is to educate Congress about what's right for Americans when it comes to their retirement plans. And that includes plans in both the private employer-based market and the non-profit market."
When the combination agreement takes effect next month, NTSAA will operate as a semi-autonomous division under ASPPA, retaining its name and brand identity. "This is not a merger or acquisition," emphasized Graff. "Our intent is to leverage unique organizational strengths and enhance member value."
The agreement brings total membership of the combined organization to approximately 7,500 retirement plan professionals.
About the American Society of Pension Professionals & Actuaries
The American Society of Pension Professionals & Actuaries (ASPPA) is a national organization of more than 6,500 retirement plan and benefits professionals that serves as the educator, voice, and advocate for the employer-based retirement system. ASPPA members are administrators, actuaries, advisors, attorneys, accountants, and other financial services professionals who provide consulting and administrative services for qualified retirement plans. ASPPA is based in Arlington, Virginia, and has 17 regional ASPPA benefits councils (ABCs) providing local retirement plan employee benefit professionals with opportunities to participate in ASPPA activities in their local communities. www.asppa.org
About the National Tax Sheltered Accounts Association
The National Tax Sheltered Accounts Association (NTSAA) is the only independent, non-profit association dedicated to the 403(b) and 457 marketplaces in the nation and represents practitioners, agencies, corporate, and employer members. The NTSAA mission is to provide members with high quality education, technical support, and information resources, as well as to offer a professional networking forum. For more information, visit www.ntsaa.org.
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