Officers

The Executive Committee of NAIFA appoints the members of the National IFAPAC. The chair and first vice chair are appointed to 2 year terms. Six regional vice chairs are named to two-year staggered terms, to insure continuity and experience. NAIFAPAC is a full-time, permanent, multicandidate political committee. All political action funds – income and expenditures – are reported to the Federal Election Commission. The NAIFA treasurer is the National IFAPAC treasurer.

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State IFAPACs

NAIFA’s state chapter in all 50 states and the District of Columbia have organized their own Political Action Committees. These PACs cooperate with the national committee in fundraising and share in the political contributions made by individuals and the administrative contributions made by NAIFA chapters. The state PACs contribute only to candidates for state office and to state political committees. The National PAC contributes only at the federal level. This arrangement guarantees organized insurance agents and financial advisors a highly visible political presence in the nation’s capital and in every state’s capital as well. 

Funds

The national and state IFAPACs maintain separate, segregated funds for political action and for administrative purposes. NAIFA cannot contribute to political candidates, but IFAPAC can. IFAPAC has consistently ranked at the top of the approximately 4,600 federal-level PACs in its political receipts and disbursements to political candidates. IFAPAC solicits political funds from NAIFA members. The administrative fund consists of contributions by state and local associations and by members of the association who direct their money to this fund. These monies are used only for administrative purposes.

NAIFAPAC must, and each state should, set up a separate account solely for political action funds (from which contributions are made to candidates). Such funds should not be intermingled with general association funds. NAIFAPAC also has a separate account to pay administrative expenses of the PAC, and many state associations do as well. State association executives and treasurers are strongly encouraged to familiarize themselves with their state’s campaign finance laws and contribution reporting requirements.

Although individual contributors are generally considered active for 12 months after the date of their last contributions, contributions must be credited in the calendar year they are received, in compliance with the Federal Election Campaign Act. Some state IFAPACs, however, keep separate internal records for their own purposes to coincide with their fiscal or association year.

Annual contribution amounts are recognized in the following categories; Capitol, Platinum, Gold, Silver and Bronze. Each level may be obtained by making a onetime contribution via personal check, Visa, American Express, Discover and MasterCard, by monthly withdrawals from a personal checking account or credit card, or by quarterly or semiannual payments.

Administrative Fund

The administrative fund may consist of contributions by state and local associations and by individuals who direct their money to this fund. No contributions to candidate campaigns are made from the administrative fund. Administrative funds are used to support the ongoing solicitation, disbursement, and record-keeping functions of IFAPAC. You can view administrative fund uses be clicking here.

IFAPAC Candidate Selection Group

The National IFAPAC Candidate Selection Group has final responsibility for allocating political action funds at the federal level. The Candidate Selection Group consists of the NAIFA Government Relations Committee chair, the National IFAPAC chair and first vice chair, the chair of the Advisors Political Involvement committee, the National IFAPAC Trustee Liaison, and three other persons appointed by the NAIFA Executive Committee. The NAIFA Trustee Liaison to the National IFAPAC is also the Trustee Liaison to the Group. The Group reviews information about candidates and campaigns from many sources, including: the state IFAPAC and Government Relations chairs; the NAIFA government affairs staff; political involvement contacts; members of local associations; the political party campaign committees; the news media; the candidates and their political associates; and other PACs and political organizations. The state IFAPACs should have similar procedures. This careful, methodical process has worked exceptionally well. It is a major reason for IFAPAC’s reputation for integrity.