The American Society of Pension Professionals & Actuaries is launching a new organization to meet the growing needs of advisors working in the 401(k) market.

The National Association of Plan Advisors (NAPA) will be structured as a professional society for advisors who serve employer-sponsored retirement plans. Members will benefit from advocacy, business intelligence and networking designed to help them succeed and stay abreast of emerging trends and best practices.

"First and foremost, NAPA is about advocacy. Unfortunately Washington policymakers underestimate the role plan advisors play in the retirement industry. The recent debates over uniform fiduciary standards, fee disclosure, and the definition of investment advice under ERISA are examples of current issues in play here in D.C. Given our economic uncertainty and the debate over the future of 401(k) plans, there has never been a more important time for retirement plan advisors to provide a unified and strong voice on these issues," said Brian Graff, executive director and CEO of ASPPA.

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