The Retirement Income Industry Association’s Evolving Membership Structure: What Do You Get for the Money?
Retirement Income Industry Association (RIIA) Executive Director, François Gadenne, contributes regularly to this blog. Francois writes about retirement income-related issues as well as RIIA’s role in helping its members navigate through a variety of complex issues. Today he explains RIIA’s various membership categories and the benefits accorded to each.
Memberships cost money. Therefore, the first question – before joining any association -becomes: What does my company get for the money? In the case of the Retirement Income Industry Association (RIIA), the answer is simple: Your company gets something unavailable anywhere else: The View Across the Business Silos. This view gives members a unique perspective on the latest retirement income developments across most of the financial industry, including established institutions, academia, marketing, research as well as start-ups.
So, the second question is: Why is this valuable to me? The answer will be unique to you and your company because RIIA membership categories vary by type of business and are matched to the kind of organization you represent.
Institutional Memberships
Regular Members are the core of RIIA’s membership. They receive the maximum value and member benefits RIIA has to offer. Regular members are firms that develop or distribute retirement income offerings or participate in the industry in such a significant manner that the Board determines that they should become a regular member.
Regular Members pay $10,000 in annual dues and have full membership privileges:
• Entitled to one vote on any matter put before the membership for a vote.
• Can be considered for election to the Association’s Board of Directors.
• May participate where appropriate on any and all Association committees.
• To get the maximum value from their membership, Regular Members are encouraged to actively participate in the life of the Association through service on the Board and the various Committees.
• Receive one free registration for the RIIA Annual Meeting and Awards Dinner and are considered for the annual RIIA Awards.
• May attend the Annual Managing Retirement Income conference and workshops at a substantial discount.
• Access RIIA’s training and educational program for the Retirement Income Expert designation.
• Receive RIIA’s proprietary Research reports for free and may purchase any extended research directly from third-party vendors at a discount.
• Access to RIIA’s Regular-Members-Only section of RIIA’s website
• May sponsor RIIA events.
• May use RIIA’s logo in marketing and communications.
Associate Members are firms that serve the retirement income industry such as law, accounting, research and consulting firms. These members have no vote on RIIA business matters, but are encouraged to contribute to RIIA’s mission through committee & conference participation. Associate Member firms pay a membership fee that matches the smaller size of their businesses and may become a regular member upon payment of regular member dues. No Regular Member firm offering retirement income products, services, and/or distribution may be an Associate Member.
• Associate Members pay $2,500 annual dues and receive these benefits:
• Opportunity to participate in or lead a Committee.
• Associate Members who chair a committee may serve on the Association’s Board of Directors.
• Receive one free registration for the RIIA Annual Meeting and Awards Dinner and are considered for the annual RIIA Awards.
• May attend the Annual Managing Retirement Income conference and workshops at a discount.
• Receive RIIA Research Reports at a discount.
• Are eligible to take RIIA education courses and receive the Retirement Income Expert designation.
• Access to RIIA’s Associate-Members-Only section of RIIA’s website
• May sponsor RIIA events.
• May use RIIA’s logo in marketing and communications.
Plan Sponsor Members are firms that sponsor qualified retirement and employee benefit programs. These members have no vote on RIIA business matters, but are encouraged to contribute to RIIA’s mission by sharing their real-world experience with a view toward benefiting all RIIA members.
• Plan Sponsors pay $500 annual dues and receive these benefits:
• Receive one free registration for the RIIA Annual Meeting and Awards Dinner and are considered for the annual RIIA Awards.
• May attend the Annual Managing Retirement Income conference and workshops at a discount.
• Receive RIIA Research Reports at a discount.
• Are eligible to take RIIA education courses and receive the Retirement Income Expert designation.
• May sponsor RIIA events.
• May use RIIA’s logo in marketing and communications.
Individual Memberships
RIIA created Individual Memberships in response to strong market demand.
Financial Advisor Members are licensed financial professionals who provide retirement income planning advice and services to individuals. These members have no vote on RIIA business matters, but are encouraged to contribute their real-world experience to RIIA initiatives, committees and conferences, with a view toward benefiting investors.
Financial Advisor Members pay $250 annual dues and receive these benefits:
• Receive one free registration for the RIIA Annual Meeting and Awards Dinner.
• May attend the Annual Managing Retirement Income conference and workshops at a discount.
• Are eligible to take RIIA education courses and receive the Retirement Income Expert designation.
• May sponsor RIIA events.
RIIA brings a unique perspective, insights, networking opportunities, research, training and thought leadership to its members. Just as important, the greatest value of participation in RIIA comes from bringing talented, knowledgeable people together as they solve a serious problem for millions of Americans while creating new opportunities in the retirement income business.
Active participation in the work of the Committees leverages this value far in excess of your basic membership benefits. If you want to get involved and want to know more about RIIA’s memberships and activities, please visit RIIA’s website where you can download a Membership Application and contact Board and Committee leadership.
©Copyright 2007 David A. Macchia. All rights reserved.