ARA Diversity Equity and Inclusion

ARA Diversity Equity and Inclusion

ARA is committed to connecting DEI activities to a broader business-driven, results-oriented strategy. As part of its ongoing commitment to its 30,000+ members and the impact of their advocacy on behalf of the nation’s private retirement system, the American Retirement Association works with members and industry partners to develop and execute strategies aimed at addressing social and economic issues affecting retirement policy, including gaps in coverage.

We envision a world where diversity in the retirement industry leads to a more comfortable retirement for every working American.

 

ARA Diversity Committee Purpose and Members

The ARA Diversity Committee develops the association’s diversity, equity, and inclusion (DEI) activities and explores appropriate steps, strategies, and partnerships aimed at increasing the participation rates of underrepresented groups in employer-sponsored retirement investment options. The committee’s goal is to keep the DEI conversation going and to provide resources for members.

Our mission is to increase the diversity of ARA professionals and to promote inclusivity in the retirement industry. By diversifying our industry, we can better serve a broader clientele of plan sponsors and employees to improve the overall financial wellness of historically underrepresented groups in the United States. 

 

Program Spotlight:

The American Retirement Association (ARA) is taking action to address racial disparities in retirement savings through the launch of the Nourish Our Wealth (NOW) program. Studies show that 76% of White and 71% of Asian Americans/Pacific Islanders have retirement accounts, in stark contrast to barely half of Black (49%) and Hispanic (52%) Americans. The fact that a significant percentage of Black and Hispanic Americans are unsure of their retirement savings—with a quarter lacking any liquid investable assets—underscores the urgency and importance of NOW's mission. The need for targeted support and growth of professionals of color within our industry to serve these populations has never been more apparent.

The NOW program stands as ARA's commitment to bridging the retirement savings gap in communities of color. By focusing on increasing the representation of professionals of color in the retirement industry, ARA aims to ensure that the industry mirrors the diverse communities it serves. This initiative is a vital step towards addressing the systemic disparities. ARA is dedicated to creating a more equitable future for all Americans in their retirement years.

SIGN UP HERE

 

Member Resources

• Member Opportunity Interest Form
• Articles
  • WiRC Together Again 
  • Building a More Diverse Team
  • Why Diversity, Equity and Inclusion Are Vital to Building Your Practice 
  • Diversity: We’ve Come a Long Way 
  • Digital Edition of the Winter 2023 Issue of NAPA Net 
• Programs
  • Diversity Mentoring Program 
  • Thrive Mentoring Program 
  • Third Thursdays
• Advisor Tools
  • Diversity for Small Business Retirement
• Data
  • Visit the IRS website for supplemental information
  • Choosing a Retirement Solution for Your Small Business [PDF]

 

Partnerships

 

 

ARA DEI Committee Members

Patricia Wenzel, CFP® , CRPC® , C(k)P®, CPFA™ (NAPA) (chair) Managing Director - Wealth Managemen Bank of America Merrill Lynch	Malika Terry, CPFA®, CPSP™ (PSCA) Head of Total Rewards Invitae
Pam Appell, CFA, AIF® (NAPA) Vice President Plexus Financial Services	Martella A. Turner-Joseph, MSPA (ASEA/ASPPA) Pension Actuary Joseph & Turner Consulting Actuaries, LLC
Lee Bethel, CPFA™ (NAPA) President Comprehensive Benefit Services, Inc.	Tamara Indianer, CRES, AIF®, CFP® (NTSA) Vice President Head of Retirement Marketplace Lincoln Investment Planning, Inc.
Christopher D. Cervantes, C(k)P®, CIMA®, CFP®, CPFA™ (NAPA) Founder & Managing Partner Valorous Advisors	Jay Washington CEBS® RICP® AIF® (NAPA) AVP Diverse Market Segment Registered Representative Voya Financial®
Tuyen Pham, CPFA (NAPA) Advisor Pensionmark	Sheri Melvin CPSP™ (PSCA) National Senior Director, Human Resources and Administration National Endowment for Democracy
Lisa M. Garcia, CPFA, AIF® (NAPA) Retirement Plan Consultant SageView Advisory Group

 

ARA DEI Committee Goals

• Address gaps in coverage for racially/ethnically diverse individuals.
• Identify social issues (barriers) that affect retirement policy
• Identify economic (barriers) issues that affect retirement policy
• Provide education/materials to members (and the business community) targeted at small businesses on employer sponsored retirement plans
• Share related industry research/data
• Collect/develop best practices
• Increase awareness of current retirement policies that negatively impact participation rates among underrepresented groups/communities
• Identify and/or recommendation for products, partnerships, and resources to support inclusion goals
• Champion resources to aid members in increasing their DEI knowledge including educational and advocacy opportunities

 

 

Contacts

Erika Goodwin (Staff Liaison)
Director Advocacy Engagement
[email protected]

Madison Oakley (Staff Liaison)
Advocacy and Member Engagement Coordinator
[email protected]