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1 min read

NAIFA’s Maeghan Gale Speaks to LTCI Partners on Recent Trends in LTC Legislation

By LECP Center on 6/4/21 5:44 PM

NAIFA’s Policy Director Maeghan Gale joined LTCI Partners Managing Director, Tom Riekse, and Director Steve Cain for a panel discussion about recent Long Term Care Insurance legislation.  For many years, Long-Term Care Insurance took a backseat as it relates to legislative action on the state and federal level. However, 2021 has brought a wave of activity as lawmakers consider the best way to support their growing aging populations.

Topics: Advocacy Long Term Care Aging in Place Legislative & Regulatory
3 min read

Members of Congress Praise NAIFA Advocates at Virtual Congressional Conference

By NAIFA on 5/28/21 10:34 AM

NAIFA’s Virtual Congressional Conference, May 25-26, was an overwhelming success, with more than 1,300 registered participants. These insurance and financial advisors received advocacy training, benefited from policy briefings, and heard words of encouragement from Sen. Tim Scott (R-SC) and Reps. Stephanie Murphy (D-FL) and Darin LaHood (R-IL), as well as NAIFA CEO Kevin Mayeux and American Council of Life Insurers President and CEO Susan Neely.

Topics: Legislative & Regulatory Federal Advocacy

NAIFA President Michel: It's Not Too Late to Register for Congressional Conference

By NAIFA on 5/23/21 3:30 PM

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: Legislative & Regulatory Federal Advocacy
1 min read

NAIFA Supports Cardin, Portman Efforts to Move Retirement Reform Legislation

By NAIFA on 5/21/21 3:59 PM

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 Legislative & Regulatory Federal Advocacy
2 min read

Texas Legislature Passes NAIC Model for Annuity Transactions

By NAIFA on 5/20/21 4:17 PM

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: Annuities Legislative & Regulatory State Advocacy
1 min read

US Department of Labor Withdraws Independent Contractor Rule

By Mike Hedge on 5/6/21 8:36 AM

The U.S. Department of Labor (DOL) has announced the withdrawal of the “Independent Contractor Rule," effective May 6, 2021.

Topics: Legislative & Regulatory Federal Advocacy
2 min read

NAIFA’s Carsrud Contributes to Capitol Hill Briefing on Retirement Issues

By NAIFA on 5/5/21 3:19 PM

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: Advocacy Retirement Legislative & Regulatory
2 min read

NAIFA Supports SECURE Act 2.0 Introduced by Reps. Neal and Brady

By NAIFA on 5/3/21 4:24 PM

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 Legislative & Regulatory Press Release
1 min read

The IRS Will Correct Confusing Guidance on Stretch IRAs and the SECURE Act

By Judi Carsrud on 4/26/21 4:03 PM

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: Legislative & Regulatory Tax Retirement Plans
2 min read

NAIFA Members Show Almost No Interest in Being Classified as “Employees”

By Mark Briscoe on 4/23/21 6:38 PM

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: Advocacy Legislative & Regulatory

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