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1 min read

Industry Groups Testify at Hearing on DOL Proposal

By NAIFA on Sep 3, 2020 6:11:36 PM

Bradford Campbell, a partner with the law firm Faegre, Drinker, Biddle & Reath, testified today on behalf of NAIFA and several other industry organizations at the U.S. Department of Labor’s Administrative Hearing on the Proposed Class Exemption Regulation “Improving Investment Advice for Workers & Retirees.”

Topics: Advocacy Legislative & Regulatory Standard of Care
2 min read

New Maryland Commissioner Looks to Work  with Industry on Annuity Suitability Revisions

By NAIFA on Aug 26, 2020 3:37:46 PM

Maryland’s new Insurance Commissioner, Kathleen Birrane, had an opportunity to introduce herself to the state’s insurance agents and financial advisers on August 25 during a townhall webinar with NAIFA-MD, the Maryland Association of Health Underwriters and Maryland Insurance Agents and Brokers.

Topics: Legislative & Regulatory State Advocacy
2 min read

NAIFA Sees DOL Proposal as a Step in the Right Direction, But Offers Improvements

By NAIFA on Aug 11, 2020 10:29:05 AM

NAIFA President Cammie Scott submitted a comment letter on behalf of NAIFA that generally supports the Department of Labor’s proposed class exemption for investment advice fiduciaries under ERISA and the Internal Revenue Code and makes several suggestions to improve the proposal.

Topics: Retirement Planning Legislative & Regulatory Standard of Care
1 min read

ALI Survey Finds Growing Concern Among Workers Planning for Retirement

By NAIFA on Jul 29, 2020 1:26:23 PM

A new survey by the Alliance for Lifetime Income (ALI) finds that 70% of older working Americans with at least $100,000 in assets are more pessimistic about their retirement plans because of the COVID-19 pandemic. One-in-five of these workers, or approximately 3.2 million Americans, now plans to retire later than they had anticipated. ALI notes that the number would likely be much higher had the survey also included older workers with less than $100,000 in assets.

Topics: Annuities Retirement Planning Legislative & Regulatory COVID-19
5 min read

Pandemic, PPP and Policy

By NAIFA on Jul 24, 2020 4:52:31 PM

This special NAIFA webinar provided Paycheck Protection Program updates and information on COVID-19 amendments to the Family Medica Leave Act that insurance and financial professionals need to know. NAIFA members may view the webinar on-demand. If you are not a NAIFA member, please join.

Topics: Legislative & Regulatory COVID-19
2 min read

Expert Panel to Provide New Insights on the Paycheck Protection Program to NAIFA Members

By NAIFA on Jul 17, 2020 3:58:47 PM

The federal Paycheck Protection Program (PPP) has provided more than $517 billion in COVID-19 relief loans to nearly 5 million employers across the United States. Nearly 170,000 loans have gone to companies in the finance and insurance sector, while many more have gone to small businesses served by NAIFA members and other financial professionals. As of July 7, more than $130 billion remained in PPP funding, according to the Small Business Administration.

Topics: Legislative & Regulatory COVID-19
2 min read

NAIFA’s Carsrud Briefs WIFS Members on Advocacy Issues

By NAIFA on Jul 9, 2020 1:51:01 PM

NAIFA Assistant Vice President of Government Relations Judi Carsrud provided members of Women in Insurance and Financial Services (WIFS) in Central Pennsylvania a briefing on the SECURE Act and the Security and Exchange Commission’s Regulation Best Interest (Reg BI) in a virtual meeting on Thursday.

Topics: Advocacy Retirement Legislative & Regulatory Standard of Care
1 min read

SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program

By NAIFA on Jun 17, 2020 5:27:02 PM

On June 17, the U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020.  In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:

Topics: Legislative & Regulatory COVID-19
1 min read

NAIFA Urges Congress to Bolster Retirement Savers in Next Phase of COVID-19 Legislation

By NAIFA on Jun 17, 2020 2:45:39 PM

NAIFA’s advocacy team and grassroots army have been engaged from the beginning of conronavirus-related shutdowns with Congress, state legislatures, and federal and state regulators on proposals to provide economic relief and recovery assistance to individuals, families, and small businesses. We provided input to Congress as they shaped the first three phases of COVID-19 legislation, including the Paycheck Protection Program.

Topics: Advocacy Retirement Legislative & Regulatory COVID-19
1 min read

NAIFA Supports Legislation to Boost Registered Index-Linked Annuities

By NAIFA on Jun 11, 2020 1:02:34 PM

Registered index-linked annuity (RILA) products offer a good option for some consumers who want to benefit from market growth while reducing their exposure to market losses. These are long-term, tax-deferred investments that are often well-suited for investors who are preparing for retirement, especially those who are retired or are nearing retirement and wish to reduce the impact of market downturns.

Topics: Advocacy Annuities Legislative & Regulatory

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