March 9, 2023
Last month, NAST and CSPN members gathered in Washington, D.C., for the annual NAST Legislative Conference. In addition to the numerous networking opportunities, attendees heard from experts on a wide range of topics, discussed the legislative successes of the previous year, reviewed the goals for 2023, gained insights on current congressional priorities, further developed messaging and strategy, and discussed the power of advocacy from Treasurers and their staff.
Throughout the conference, we celebrated the successful passage of the ABLE Age Adjustment Act, the 529/Roth IRA rollover legislation, and the efforts of all those involved in the many years of advocacy that led to their ultimate passage. Included in that celebration was recognition of the efforts of Liz Fontaine, Deputy Executive Director of the Massachusetts Educational Financing Authority, and Leslie Crudele, Government Relations Director at Virginia 529, who each received the distinguished Chris Allen Memorial Award for Outstanding Advocacy in Public Finance for their efforts on 529 plan expansion. While many individuals contributed to NAST successes in 2022, the work of these extraordinary members truly went above and beyond.
Throughout the conference, we celebrated the successful passage of the ABLE Age Adjustment Act, the 529/Roth IRA rollover legislation, and the efforts of all those involved in the many years of advocacy that led to their ultimate passage. Included in that celebration was recognition of the efforts of Liz Fontaine, Deputy Executive Director of the Massachusetts Educational Financing Authority, and Leslie Crudele, Government Relations Director at Virginia 529, who each received the distinguished Chris Allen Memorial Award for Outstanding Advocacy in Public Finance for their efforts on 529 plan expansion. While many individuals contributed to NAST successes in 2022, the work of these extraordinary members truly went above and beyond.
Attendees heard the recurring theme from speakers that legislators’ offices need to hear from state treasurers and their staff. Kathryn Chakmak, Tax Policy Advisor in the Office of Rep. Jason Smith (R-Mo.), who is the Chair of the House Ways and Means Committee, said her office “wants to hear from Treasurers offices” on 529 and other issues before the Committee. Emily Brock, Director of the Federal Liaison Center at the Government Finance Officers Association (GFOA), spoke about how calls from Treasurers “will move the needle” on efforts related to restoring tax-exempt advance refundings, and protecting the tax-exempt status of municipal bonds. Each congressional expert who spoke reiterated that the key to success with the 118th Congress will be proactive outreach from our NAST membership to members of Congress to educate them on the issues that are of importance to Treasurers and that those efforts must start immediately.
Conference attendees participated in panel discussions on topics including implementing the 529/Roth IRA rollover, how corporate employers can play a greater role in 529 expansion, planned 529 and unclaimed savings bonds legislation, state retirement programs, the Financial Data Transparency Act, unclaimed cryptocurrency, the States’ Unclaimed Retirement Clearinghouse program (SURCH), and more. Additionally, as a precursor to the most recent CSPN Federal Initiatives Committee Meeting, members of the college savings community met during breakfast on the final day of the conference to have initial discussions on what the legislative focus for college savings should be in 2023.
Overall, it was another successful legislative conference, where attendees gained valuable information, were provided with ample networking opportunities, and advocated for their constituents all while having a good time doing it.
About the author:
Dillon Gibbons is Director of Policy of the National Association of State Treasurers (NAST).