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A Trade Group for Tax Shelters? A Trade Group for Tax Shelters?

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A Trade Group for Tax Shelters?

In Washington, there's a trade group for everything so when the Alley heard about the National Tax Sheltered Accounts Association, we couldn't wait to find out more about the group that presumably lobbied for Cayman Island bank accounts and Swiss tax havens.

So we were more than a little disappointed when we called NTSAA president Chris DeGrassi and he politely informed us the group had nothing to do with exotic tax shelters.

The group, founded two decades ago, is a professional association and advocacy group focused on public-sector retirement accounts. It's part of the American Society of Pension Professionals & Actuaries

The "tax sheltered accounts" part of the name was a "shortcut" to avoid the more cumbersome 403 (b) and 457 references to the Internal Revenue Code, DeGrassi said.

"Rather than talk about code sections, they would simply describe it as a tax sheltered account," he said.

The group's membership includes financial planners and attorneys, but doesn't have much to do with glamorous locales.

So there goes our plans to expense a Caribbean reporting trip.

"Sorry about the Caymans, but happy to take you to Lansing, Michigan," where the association is involved in policy talks right now, DeGrassi joked.

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