<img height="1" width="1" style="display:none;" alt="" src="https://dc.ads.linkedin.com/collect/?pid=319290&amp;fmt=gif">
advocacy-banner1
1 min read

NAIFA Opposes Changes to Grantor Trusts in Legislative Proposal

By NAIFA on 10/17/21 9:15 PM

The reconciliation package now being considered by Congress includes dramatic changes to grantor trusts which are of significant concern to many NAIFA members and their clients, especially proposed changes to Irrevocable Life Insurance Trusts and the weak, ineffective “grandfather” provisions included in the reconciliation proposal. ILITs have been used for decades to help families of all sizes – not just the rich – address the expenses, income taxes, estate taxes, and gift taxes due at death. Life insurance policies inside these trusts provide the necessary liquidity to family heirs without the death proceeds themselves being included in the deceased’s taxable estate.

Topics: Legislative & Regulatory Federal Advocacy
1 min read

NAIFA Opposes IRS Reporting Proposal That Raises Cost and Privacy Concerns

By NAIFA on 10/15/21 5:45 PM

NAIFA has joined more than 100 organizations expressing privacy and cost concerns with a Biden administration proposal that would require financial services providers to track and submit to the IRS information on every account with deposits or withdrawals totaling $600 or more annually.

Topics: Legislative & Regulatory Federal Advocacy
1 min read

NAIFA Members Get Together With California Lawmakers

By NAIFA on 10/15/21 4:38 PM

NAIFA-CA members, including National President Tom Michel, LACP, and Past President John Davidson, LUTCF, FSS, attended a meeting earlier this week with California state and federal lawmakers. During the event, NAIFA members were able to connect with several state officials.

Topics: State Advocacy Federal Advocacy
1 min read

SEC Chair Gensler Says He Is Committed to Reg BI

By NAIFA on 10/11/21 9:18 AM

NAIFA strongly supports the Securities and Exchange Commission’s (SEC's) Regulation Best Interest (REG BI) to protect investors and preserve the ability of financial advisors to serve the needs of Main Street USA consumers. The rule is in harmony with the National Association of Insurance Commissioners’ (NAIC's) revised Annuity Suitability Model, which requires producers to work in the best interests of consumers during annuity transactions, providing enhanced investor protections at the federal and state levels and discouraging a mishmash of confusing and potentially contradictory laws and regulations.

Topics: Legislative & Regulatory Reg BI Federal Advocacy
2 min read

NAIFA Article on NAIC Model Featured in NCOIL Publication

By NAIFA on 10/5/21 3:25 PM

The monthly newsletter of the National Council of Insurance Legislators (NCOIL) features a front-page article contributed by NAIFA State Chapters Director Julie Harrison on the best interest standard incorporated into the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transaction Model Regulation. 

Topics: Annuities Interstate Advocacy
1 min read

Representatives Introduce Legislation to Ease the ACA's Employer Reporting Requirements

By Mike Hedge on 9/30/21 5:23 PM

On September 21, 2021, Reps. Mike Thompson (D-CA) and Adrian Smith (R-NE) introduced H.R. 5318. This bipartisan bill will provide much-needed relief for employers seeking to comply with the reporting requirements under Section 6055 and 6056 for enforcement of the ACA's individual and employer mandates. NAIFA believes the passage of this legislation would greatly assist in addressing new challenges employers face under the health-reform law.

Topics: Health Care Legislative & Regulatory ACA Federal Advocacy
1 min read

Terry Headley Lifetime Defender Award Nominations Due

By NAIFA on 9/24/21 5:05 PM

The inaugural Terry Headley Lifetime Defender Award will recognize a current NAIFA member who shows exemplary service to their profession, colleagues, and clients through their political advocacy and contributions to IFAPAC.

The deadline to nominate a NAIFA member for the award is Sept. 30.

Topics: Advocacy
1 min read

NAIFA Continues Support of Remote Online Notarization Legislation

By Mike Hedge on 9/22/21 5:34 PM

NAIFA joined with industry partners in a letter to express strong support for National Defense Authorization Act (NDAA) amendment #445 offered by Representative Dean (D-PA), with the support of Representatives Armstrong (R-ND), Turner (R-OH), Perlmutter (D-CO), and Reschenthaler (R-PA).

Topics: Federal Advocacy FinTech
1 min read

Kim Durcho Joins NAIFA’s Government Relations Team as Grassroots Director

By NAIFA on 9/20/21 3:40 PM

NAIFA is pleased to welcome Kim Durcho as a Grassroots Director. Durcho joins NAIFA’s Government Relations team and reports to Senior Vice President for Government Relations Diane Boyle.

As Grassroots Director, Durcho will develop and execute a comprehensive advocacy program to foster member participation in grassroots efforts at the national and state level.

Topics: Advocacy Press Release
1 min read

NAIFA Joins Main Street Employers Urging Congress to Reconsider Tax Proposals

By NAIFA on 9/15/21 12:01 PM

In advance of the Ways and Means Committee mark-up, NAIFA signed a letter with more than 100 other organizations representing Main Street employers asking Congress to reject proposed tax increases that would harm these businesses and the consumers they serve.

Topics: Legislative & Regulatory Tax Federal Advocacy

Featured