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5 Things You Need to Know this Week
The best part of Monday mornings is the NAFOA newsletter 🍵
Monday, June 17, 2024
Source: NAFOA
1. NAFOA CONFERENCE:
DEADLINE EXTENDED FOR FALL CONFERENCE CALL FOR PROPOSALS
NAFOA invites community members to submit proposals for sessions at our upcoming 2024 Fall Finance & Tribal Economies Conference taking place September 23-24 at the Hilton San Diego Bayfront in San Diego, CA.
We value the expertise and insights of our diverse community in shaping the conference agenda. Tribal leaders, industry experts, and others with knowledge and experience in tribal finance, economic development, and related areas are encouraged to submit their ideas.
Submitting a proposal does not guarantee your session will be selected. Proposals will undergo a thorough evaluation by the NAFOA team to ensure that the selected sessions address the varied needs and interests within our community. Notification will be sent only to the individuals whose sessions are selected for the conference. If your proposal is accepted, NAFOA will coordinate and finalize the session details
Proposal Deadline: June 21, 2024 at 5:00 p.m. Eastern TimeNotification of Acceptance: July 8, 2024 Submit a Proposal
2. FOR TRIBES:
NOTICE OF PROPOSED RULEMAKING FOR LONG-TERM, PART-TIME EMPLOYEE RULES FOR 401(K) PLANS – WRITTEN COMMENTS
The U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) request the assistance of Tribal leaders in addressing all aspects of the “Long-Term, Part-Time Employee Rules for Cash or Deferred Arrangements Under Section 401(k)” Notice of Proposed Rulemaking (NPRM) that may have an impact on Tribal governmental plans, including the following topics:
1. Comments are requested on the direct cost of complying with the requirement that LTPT employees be permitted to participate in a Tribal governmental section 401(k) plan (taking into account that employers are not required to make matching or nonelective contributions for LTPT employees).
2. The proposed regulation confirms that an employee, who otherwise would be an LTPT employee, can be excluded from the plan if the employee is part of an excluded employee class. However, excluding a class of employees cannot be a proxy for an impermissible service or age requirement. What questions or feedback do you have regarding that limitation on the classes of employees that may be excluded? 2 For example, if a plan sponsored by the Tribal Parks Department ordinarily excludes employees classified as “Camp Coordinators,” all of whom work seasonally, is there a question as to whether these employees could be excluded from participating under the NPRM?
3. An LTPT employee must be credited with a year of vesting service for each 12 -month period during which the employee has a least 500 hours of service, which may differ from a Tribe’s method of determining vesting. For example, according to the Tribe’s HR policy, a full time Tribal government employee must work at least 1,000 hours during a year to receive a year of vesting service, while a Camp Coordinator who qualifies as an LTPT will need just 500 hours to receive a year of vesting service. What are the potential impacts of this for Tribal employers?
4. What other questions or feedback do you have about any other aspects of the NPRM that are not covered by the above topics?
The written comment deadline is June 17, 2024, 11:59 p.m. Alaska Time. Please submit written comments to tribal.consult@treasury.gov.
Read the Dear Tribal Leader Letter
3. IN THE NAFOA NAVIGATOR:
TRIBES PROTECTING TRIBES
By Tina Duncan, Director of Business Development, tduncan@amerind.com, amerind.com
In 1986, the insurance industry was rocked by instability and financial uncertainty. As a result, Indian Country was faced with limited coverage options and exorbitant premiums with no guarantee that the policies wouldn’t be cancelled. Tribal leaders came together with a radical vision and over 400 Tribes pooled their resources to form an insurance company rooted in the fundamental principle of “Tribes Protecting Tribes.” Today, AMERIND remains the only 100 percent Tribally owned and operated insurance provider committed to keeping Tribal money in Indian Country to strengthen tribal nations, citizens, and enterprises. Through our fiscally sound and culturally responsive insurance products, Tribes can exercise their sovereignty and self-determination over their economies by protecting their people and keeping Tribal money in Indian Country.
Continue Reading (pgs. 128-129)
4. FOR YOUNG PROFESSIONALS:
THE ACADEMY AT BANK OF AMERICA, SUMMER YOUTH EMPLOYMENT PROGRAM: TIME MANAGEMENT
Thursday, June 27, 2024, at 2:00 PM Eastern Time
Join the Time Management and Prioritization training sponsored by The Academy at Bank of America. During this workshop you’ll learn key concepts of time management and task prioritization to help you manage life priorities and accomplish your goals. This event is ideal for individuals looking to develop an understanding of how to protect their time and manage their energy to stay focused and win the day.
Register to Join
5. JOBS:
EXECUTIVE DIRECTOR, MIDWEST TRIBAL ENERGY RESOURCES ASSOCIATION
The Midwest Tribal Energy Resources Association (MTERA) is a non-profit organization that brings together Member Tribes to plan and pursue clean energy projects on Tribal Lands. MTERA’s mission is to promote Tribal sovereignty, energy independence, environmental justice, and economic development through renewable energy and energy efficiency initiatives.
MTERA is seeking an Executive Director to lead the organization and oversee its operations, programs, finances, and staff. The Executive Director will report to the Board of Directors and work closely with Tribal leaders, MTERA staff, partners, funders, and stakeholders to advance MTERA’s vision and goals.
MTERA has recently received significant funding to support its clean energy projects, including a $62.3 million Solar For All grant from the Environmental Protection Agency (EPA). This is a critical time in the growth of the organization, as it expands its capacity and impact on Tribal Lands. The Executive Director will be responsible for leading MTERA’s growth strategy, managing the budget and resources, and ensuring the successful implementation of the grant and other programs.
Learn More & Apply at nafoa.org/jobs
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