For Immediate Release: Lake Mary, FL
Mark Lamoriello, President & Chief Investment Officer of LAMCO Advisory Services, Inc., was one of over 140 elite 401(k) plan advisors in the United States who gathered in Washington, DC recently to listen to and advise top Congressional leaders about the future of the retirement savings industry and how proposed laws and regulations could affect American workers’ retirement security.
Mr. Lamoriello, a member of the National Association of Plan Advisors (NAPA), attended the second annual NAPA DC Fly-in Forum held in downtown Washington, DC on Sept. 30 – October 1. The delegates met with key Senate legislative staff, as well as a high-ranking Treasury Dept. official, to discuss issues including as tax reform, the proposed Department of Labor regulations on the definition of a fiduciary, and potential action by the Securities and Exchange Commission on its own fiduciary rule.
“Having access to these key federal leaders allowed us to explain in very great detail how our industry works. I think they are starting to understand how important the private-based retirement system is,” Mark said.
The Fly-in Forum featured a day and a half of high-level discussions with Members of Congress, including Sen. Orrin Hatch (R-UT), SEC Commissioner Michael S. Piwowar, Senior Advisor of the U.S. Department of Treasury, J. Mark Iwry, and host of “Meet the Press“ Chuck Todd.
Delegates then headed to Capitol Hill for a series of meetings with key Senate legislative staff. “Our Hill meetings with U.S. Senate staff in their offices allowed us a more intimate setting to make the case for our industry,” Mark said. “Because they have to deal with so many different issues in a given day, we were able to offer ourselves as a resource on key issues such as tax reform and different proposed regulations.”
NAPA, a sister organization of the American Society of Pension Professionals & Actuaries (ASPPA), was created by and for retirement plan advisors. NAPA is the only advocacy group exclusively focused on the issues that matter to retirement plan advisors. Membership offers three valuable benefits: advocacy, business intelligence, and networking – all designed to keep plan advisors in the forefront of the industry and help them succeed.