Strategic Response to the Pension Law Changes:

With “EGTRRA” (i.e. Economic Growth and Tax Relief Reconciliation Act of 2001) signed, sealed and delivered, we’re sure you’ve reviewed the legislative changes. Now, it’s time to get down to business.

Are you ready?

There’s the tactical retooling to accommodate the nuts and bolts of the changes: education and training issues abound for agents, investors and internal staffers; the laundry list of system and process modifications; and less we forget the planning and implementation needed to leverage the many sales opportunities. But, what we find most significant about “EGTRRA” are the strategic business implications of the pension changes: With real (and perceived) barriers to entry eroding (i.e. the elimination of the MEA calculation, etc.), new competitors will be poised to enter the 403 (b) marketplace. Plan portability will place tremendous pressure on asset retention.

The new options and the associated complexities will have ripple affects on everything from product development and fee structures to data collection and client servicing.

CBSG partners, Suzanne Baldino Jones and Mark Heisler (with more years of experience working the retirement marketplace than we care to admit publicly), can help your organization meet the sales, operational and service challenges that lie ahead.