The U.S. Department of Labor (DOL) has announced the withdrawal of the “Independent Contractor Rule," effective May 6, 2021.
1 min read
US Department of Labor Withdraws Independent Contractor Rule
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.
Topics: Retirement Planning Federal Advocacy Congress
2 min read
NAIFA Supports SECURE Act 2.0 Introduced by Reps. Neal and Brady
House Ways and Means Committee Chairman Richard E. Neal (D-MA) and Ranking Member Kevin Brady (R-TX) have introduced the Securing a Strong Retirement Act of 2021, also known as the SECURE Act 2.0, and Neal has scheduled a markup session in the committee for Wednesday.
Topics: Retirement Planning Federal Advocacy Congress Supported Legislation SECURE 2.0
1 min read
The IRS Will Correct Confusing Guidance on Stretch IRAs and the SECURE Act
The SECURE Act, enacted in December 2019, changes the rules for certain inherited retirement accounts whose original owners died after Dec. 31, 2019. Under the new rule, many heirs to IRAs and 401(k) accounts will have to fully distribute the funds from their inherited accounts (and pay income tax on the distributions) within 10 years of the original owner’s death. The rule does not apply to surviving spouses, minor children, heirs who are disabled or chronically ill, and heirs who are within 10 years of the age of the decedent.
Topics: Retirement Planning Federal Advocacy Congress IRS Supported Legislation SECURE 2.0
2 min read
NAIFA Members Show Almost No Interest in Being Classified as “Employees”
More than 90% of NAIFA members have income reported to the government on IRS Form 1099, and very few of them show any appetite for giving up their status as independent contractors, according to a recent survey.
Topics: State Advocacy Federal Advocacy Insurance & Financial Advisor Regulation Producer Employment
1 min read
New NAIFA Survey: What Was Your Path Into the Financial Services Industry?
NAIFA’s advocacy educates and informs policymakers so they understand the important work insurance and financial professionals do to help American families and businesses achieve their financial goals and attain financial security. Well-informed officials make better decisions to serve NAIFA members and their clients as well as all Americans who seek financially secure futures.
Topics: State Advocacy Federal Advocacy Insurance & Financial Advisor Regulation Producer Employment
1 min read
NAIFA Looks to Work With Congress on Paid Family Medical Leave Solutions
NAIFA CEO Kevin Mayeux issued the following statement following a House Ways and Means Committee hearing on paid family medical leave:
Topics: Group & Employee Benefits Federal Advocacy Congress Paid Family Medical Leave
NAIFA Issues Statement on Confirmation of SEC Chair Gensler
NAIFA CEO Kevin Mayeux, CAE, issued the following statement on the confirmation of Gary Gensler as chair of the SEC:
Topics: SEC Federal Advocacy
2 min read
NAIFA Invites All Financial Services Professionals to Attend Virtual Congressional Fly-In May 25-26
NAIFA’s Congressional Congress, May 25-26, will be a virtual event featuring targeted advocacy training with briefings on legislative issues that affect members’ businesses, best practices for conducting congressional meetings, and tips for developing impactful long-term relationships with legislators.
Topics: Federal Advocacy Grassroots Congressional Conference
1 min read
NAIFA Urges DOL to Move Forward With Rule on Independent Contractor Status
NAIFA has joined with industry partners to submit a comment letter to the Department of Labor (DOL) on the proposed withdrawal of the Independent Contractor Status rule under the Fair Labor Standards Act (FLSA). The rule was published on January 7, 2021.
