NAIFA's state-level advocacy work is second-to-none, with state chapters and members providing expertise and influence to shape legislation and regulations impacting NAIFA members' businesses and clients across the country.
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NAIFA State Advocacy Roundup
Topics: Long-Term Care Group & Employee Benefits State Advocacy Standard of Care & Consumer Protection Annuity Best Interest Insurance & Financial Advisor Regulation Paid Family Medical Leave
NAIFA President Michel: It's Not Too Late to Register for Congressional Conference
NAIFA President Tom Michel, LACP, is a political advocacy rock star! He's met with more than 100 legislators in his career and had an impact on policy decisions vital to his business, the insurance and financial services industry, and the consumers who depend on financial professionals. He understands the power of the Congressional Conference, his favorite NAIFA event of the year, and extends his personal invitation for all insurance and financial advisors to attend this year's virtual event.
Topics: Federal Advocacy Grassroots Congressional Conference
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NAIFA Supports Cardin, Portman Efforts to Move Retirement Reform Legislation
NAIFA CEO Kevin Mayeux has thanked Sens. Ben Cardin (D-MD) and Rob Portman (R-OH) for introducing the Retirement Security and Savings Act of 2021. The Securing a Strong Retirement Act of 2021 is working its way through the House and three Senators earlier this week introduced the Improving Access to Retirement Savings Act.
Topics: Retirement Planning Federal Advocacy Congress Supported Legislation
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Texas Legislature Passes NAIC Model for Annuity Transactions
NAIFA-Texas has been hard at work ensuring that the Texas legislature adopts the National Association of Insurance Commissioners (NAIC) model for a “Best Interest” standard for annuity products this legislative session. Partnering with Texas Association of Life and Health Insurers (TAHLI), we have met with multiple offices and other stakeholders to ensure clarity and support from those within the Texas Capitol. State Rep. Tom Oliverson, M.D. (R-Cypress), chair of the Texas House Insurance Committee is the bill's author.
On March 23, 2021, Jason Talley, NAIFA-Texas Past President, represented NAIFA-Texas by testifying in support of HB 1777 before the Texas House Insurance Committee. This bill passed unanimously out of committee and passed in the Texas House 144-1. Once it reached the Texas Senate, it was referred to the Senate Committee on Business & Commerce. Due to a time constraint before the first bill filing deadline of the session in early March, there was no Senate companion bill nor a Senate author. NAIFA-Texas and TALHI were able to get Chairman Kelly Hancock (R-Fort Worth) to carry this bill in his own committee. On May 13, 2021, this bill was heard in a formal hearing where NAIFA-Texas submitted written testimony in support. There was no opposition.
Topics: State Advocacy Standard of Care & Consumer Protection Annuity Best Interest Insurance & Financial Advisor Regulation Texas
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NAIFA Thanks Senators for Introducing Bipartisan Retirement Legislation
NAIFA CEO Kevin Mayeux, CAE, has sent a letter to three members of the U.S. Senate Finance Committee, Sen. Chuck Grassley (R-IA), Sen. Maggie Hassan (D-NH), and Sen. James Lankford (R-OK), thanking them for introducing the Improving Access to Retirement Savings Act of 2021, which contains some provisions found in a bill that has passed the House and is commonly known as the SECURE Act 2.0.
Topics: Retirement Planning Federal Advocacy Congress Supported Legislation SECURE 2.0
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NAIFA's Holzberg: Congress Needs to Hear From Financial Professionals About the PRO Act
NAIFA's Virtual Congressional Conference, May 25-26, is a great opportunity for NAIFA members to tell their Senators how being reclassified as "employees" rather than "independent contractors" by the PRO Act would hurt their businesses and ability to serve the best interests of their clients. NAIFA President Elect Lawrence Holzberg gives his take on why it's important to attend.
Topics: Federal Advocacy PRO Act DOL Insurance & Financial Advisor Regulation Producer Employment
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NAIFA Supports Federal Legislation on Remote Online Notarization
NAIFA joined with coalition partners to submit a letter to U.S. Senate co-sponsors of the Securing and Enabling Commerce Using Remote and Electronic Notarization Act (SECURE Notarization Act), signaling support for the legislative initiative moving forward. The Act increases access to remote transactions for consumers.
Topics: Legislation & Regulations Federal Advocacy Congress Supported Legislation Remote Notarization Producer Sales & Marketing
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State Advocacy in Action: NAIFA-OR Legislative Event a Success
NAIFA’s Oregon chapter has not missed a beat when it comes to fulfilling its political advocacy mission. NAIFA-OR’s most recent legislative update was a 100% virtual event attended by approximately 20% of NAIFA members in the state. It also attracted the attention of policymakers. State Rep. Christine Drazan (R-Canby) was among those who participated in the event.
Topics: State Advocacy Grassroots Legislative Day Oregon
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US Department of Labor Withdraws Independent Contractor Rule
The U.S. Department of Labor (DOL) has announced the withdrawal of the “Independent Contractor Rule," effective May 6, 2021.
Topics: Federal Advocacy DOL Insurance & Financial Advisor Regulation Producer Employment
2 min read
NAIFA’s Carsrud Contributes to Capitol Hill Briefing on Retirement Issues
Policy experts from industry associations, including NAIFA Assistant Vice President for Government Relations Judi Carsrud, provided congressional staff with a briefing on the defined contribution retirement system and how Congress can improve it. They explained some common challenges faced by employers providing plans and employees anxious about covering present-day expenses while saving for retirement.
