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2 min read

NAIFA Strongly Supports SECURE 2.0 Retirement Bill Passed by the House

By NAIFA on 3/29/22 9:41 PM

NAIFA commends the House of Representatives on passing the SECURE 2.0 (H.R.2954) retirement planning legislation in a 414-5 vote. The popular legislation simplifies the process and creates incentives for employers to create and enroll employees in workplace retirement plans. It also creates greater flexibility for workers who contribute to the plans.

Topics: Retirement Planning Legislative & Regulatory Press Release Federal Advocacy
2 min read

NCOIL Adopts NAIFA-Supported Resolution to Preserve Independent Contractor Status for Advisors

By NAIFA on 3/9/22 9:35 AM

The National Council of Insurance Legislators (NCOIL) unanimously approved a "Resolution Supporting Independent Contractor Status for Insurance Agents and Other Licensed Financial Professionals" at its Spring Meeting in Las Vegas. The resolution, sponsored by NCOIL President and California Assemblyman Ken Cooley states that "NCOIL will encourage states and federal entities that are debating worker classification policies and that are considering adopting a strict ABC Test and or other similarly worker classification laws to continue issuing exemptions for, or exempting out, licensed insurance agents and other financial professionals."

Topics: Legislative & Regulatory Interstate Advocacy Press Release
2 min read

South Dakota Law Strengthens Protections for Consumers Seeking Lifetime Income in Retirement

By NAIFA & ACLI on 3/8/22 4:34 PM

American Council of Life Insurers (ACLI) President and CEO Susan Neely and NAIFA-SD President Jennifer Soma issued the following joint statement on the best interest annuity law recently signed by South Dakota Governor Kristi Noem:

Topics: Legislative & Regulatory State Advocacy Press Release
2 min read

New Mexico Enhances Protections for Annuity Consumers

By NAIFA & ACLI on 3/1/22 2:46 PM

American Council of Life Insurers (ACLI) President and CEO Susan Neely and NAIFA-NM Vice President of Advocacy Kenneth Bottari issued the following joint statement on the best interest annuity rule adopted recently by the New Mexico Office of the Superintendent of Insurance:

Topics: Annuities Legislative & Regulatory State Advocacy Interstate Advocacy Press Release NAIC Model Regulation
1 min read

NAIFA-Iowa Members Meet With Lawmakers at State Legislative Day

By NAIFA on 2/28/22 10:12 AM

NAIFA's Iowa chapter held a state Legislative Day in Des Moines last week. The event featured a morning advocacy training session and afternoon meetings with state legislators at the Capitol. NAIFA-IA also hosted an ice cream social with lawmakers. 

Topics: Legislative & Regulatory State Advocacy
1 min read

New Laws In Washington Alter and Delay State-Run LTCI Program

By NAIFA on 1/31/22 5:25 PM

Washington Governor Jay Inslee on January 27 signed two bills passed by the Legislature that delay and make some improvements to the Washington Cares Fund, a state-run long-term care insurance program.

Topics: Long Term Care Legislative & Regulatory State Advocacy
2 min read

NAIFA-NJ Celebrates Legislative Victories

By Bianca Alonso Weiss on 1/27/22 9:19 AM

NAIFA's New Jersey chapter (NAIFA-NJ) has been hard at work on the advocacy front and has recent wins to show for its efforts.

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

NAIFA Supports Bipartisan Legislation to Protect Senior Investors

By NAIFA on 1/21/22 9:31 AM

U.S. Senators Chris Van Hollen (D-Md.), Tim Scott (R-S.C.), Raphael Warnock (D-Ga.), and Cynthia Lummis (R-Wyo.) introduced the Empowering States to Protect Seniors from Bad Actors Act, a bipartisan bill that would create a Securities and Exchange Commission program to work with state regulators to protect senior investors.

Topics: Legislative & Regulatory Seniors Federal Advocacy
2 min read

NAIFA-WA Urges State to Delay and Reassess State Long-Term Care Program

By NAIFA on 1/14/22 11:12 AM

NAIFA’s Washington state chapter strongly supports proposed legislation, HB 1732, that would delay the implementation of the Washington Cares long-term care insurance program. NAIFA-WA President Chris Wertenberger, loyal NAIFA member since 2002, asked legislators to fast-track the bill during a hearing before the Washington House of Representatives Appropriations Committee on January 11.

Topics: Long Term Care Legislative & Regulatory State Advocacy
2 min read

Broker Compensation Disclosure Requirements

By Michael Hedge, NAIFA's Director of Government Relations on 12/27/21 4:39 PM

Beginning on December 27, 2021, brokers and consultants will be held to new compensation  transparency obligations under the Consolidated Appropriations Act (CAA). The CAA is a spending  and coronavirus relief package that was signed into law on December 27, 2020 and expands ERISA’s existing disclosure requirements. It broadened the definition of a “covered plan” to include group health plans (previously it only included retirement plans).

Topics: Advocacy Legislative & Regulatory News industry news