Details

Parent Category: Partners

January 24, 2013

NACo Releases Legislative Presentation on the Debt Ceiling Debate and Potential Impact on Counties

The National Association of Counties (NACo) has released a new legislative presentation which provides a quick guide to understanding the debt limit debate and the significance to U.S. counties.  The presentation also examines areas of risk and opportunity for counties in the ongoing negotiations.

Click here to view the presentation.

The presentation highlights:

• Why Counties Should Care about the Debt Limit Debate
• What is the Debt Limit
• Why is there a Debt Limit
• Extraordinary Measures to Prevent Default
• Context for Federal Debt and Deficit Discussion
• Ongoing Fiscal Debate and the First Fiscal Cliff Deal
• County Risks and Opportunities 

Just this week, lawmakers in both chambers and the White House signaled support for a short-term suspension of the nation’s borrowing limit that would remove the threat of a government default for at least four months. However, this only delays decision making on important fiscal issues. As these negotiations continue, counties continue to be concerned about sequestration, potential cuts to Medicaid and cost shifts to counties, and the potential elimination or reductions to tax-exempt municipal bonds.

We hope that you will join us in Washington, D.C. March 2—6 for NACo’s 2013 Legislative Conference where these and other important issues will be discussed.  

The National Association of Counties (NACo) is the only national organization that represents county governments in the United States. Founded in 1935, NACo provides essential services to the nation’s 3,068 counties. NACo advances issues with a unified voice before the federal government, improves the public's understanding of county government, assists counties in finding and sharing innovative solutions through education and research, and provides value-added services to save counties and taxpayers money. For more information about NACo, visit www.naco.org.

Details

Parent Category: Partners

Recognizing participants’ need for access “off hours,” Nationwide extends call-center hours into late evening

‘This is no time to pull back’

Workers are looking for reassurance

Recent surveys reveal that despite experiencing declines in both account balances and confidence, workers are still committed to saving for retirement. By and large, workers are also resisting the urge to tap into their retirement accounts.[1] But only one out of every seven Americans is very confident of having enough money to live comfortably in retirement, half the amount with the same level of confidence two years ago, according to the Retirement Confidence Survey released in April 2009 by the Employee Benefit Research Institute.[2]

Watson says this underlying concern is an opportunity for employers. “Plan sponsors can help employees understand that market turmoil happens from time-to-time, but history suggests conditions are likely to recover and rebound over the long term. Since most retirement plan participants are investing for the long-term, ‘staying the course’ may be their best option.

“Fortunately, Nationwide is enhancing services – such as keeping our call centers open until 11 – to help participants find and use the resources available through their employer’s deferred compensation plan,” Watson said.

Let Nationwide help

If you’re a public employee not participating in deferred compensation, contact your local Nationwide Retirement Specialist about how you may be able to enroll, or call an in-house Retirement Specialist at 877-677-3678.

If you’re a benefits decision maker for a governmental employer, you should know that finding creative solutions for employers has been a hallmark of Nationwide’s service to the public sector, and especially NACo. As provider of the NACo Deferred Compensation Program, Nationwide has more than 30 years of collaborative experience in working with and developing solutions for our country’s leading county employers. For more information on what Nationwide is doing to help participants succeed even during difficult economic conditions, contact Louie Watson, Vice-President of Strategic Relationships, by e-mail (This email address is being protected from spambots. You need JavaScript enabled to view it.) or by phone (614-854-8895).

(This article was written by Bob Beasley, Communications Consultant, Nationwide Retirement Solutions)

© 2009, Nationwide Retirement Solutions, Inc. All Rights Reserved.

Nationwide, the Nationwide framemark, Nationwide Financial, On Your Side and Nationwide Is On Your Side are service marks of Nationwide Mutual Insurance Company.

Nationwide representatives are Registered Representatives of Nationwide Investment Services Corporation, Member FINRA

NRM-6921AO-NX (04/2009)