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The North American Equipment Dealers Association (NAEDA) and its affiliated associations are committed to helping dealers succeed.
On Sept. 28, 2012, California Governor Jerry Brown signed legislation that will create the nation’s first state-run retirement plan for private sector employees. The legislation, Senate Bill 1234, establishes the California Secure Choice Retirement Savings Trust for more than 6 million low-income, private sector employees whose employers do not offer retirement plans.
The plan will require all employers with more than five employees to withhold 3 percent of employees’ pay unless employees opt out of the plan. The new retirement plan is designed to supplement Social Security and provide low-income workers with a portable savings plan with a guaranteed return. The plan will be administered by a board chaired by the state treasurer, which will select either a private investment firm or the state’s public pension system to invest and maintain the plan’s funds.
Source: Barnes and Thornburg, LLC
For the past several months, eight task groups have been working behind the scenes to address the priorities or focus areas for transitioning NAEDA to a new governance model. Later this month, the task groups will present their findings and recommendations to the NAEDA Board of Directors for consideration. The meeting promises to be an exciting opportunity to plot the course for significant change within the association - change that will enhance service to the members and better position NAEDA for continued success.
Free Webinar to Watch on How to Achieve Greater Success in Hiring National Guard Members and Other Veterans