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.
2 min read
NAIFA Supports SECURE Act 2.0 Introduced by Reps. Neal and Brady
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
1 min read
NAIFA Supports the Improving Retirement Savings Act
Topics: Retirement Planning Federal Advocacy Congress Supported Legislation
1 min read
NAIFA Supports Legislation to Boost Registered Index-Linked Annuities
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: SEC Federal Advocacy Congress Insurance & Financial Advisor Regulation Supported Legislation
1 min read
NAIFA and Industry Partners Urge Congress to Support SECURE Notarization Act
On March 26, NAIFA joined industry partners in a letter to Congressional leadership urging support for the inclusion of the Securing and Enabling Commerce Using Remote and Electronic Notarization Act (SECURE Notarization Act), in the legislative package from Congress intended to address the economic fallout from COVID-19. The bipartisan legislation (S. 5355, H.R. 6364) was introduced by Sens. Cramer (R-ND) and Warner (D-VA), and Reps. Reschenthaler (R-PA) and Dean (D-PA).
Topics: Federal Advocacy Congress Insurance & Financial Advisor Regulation Supported Legislation Remote Notarization Producer Sales & Marketing
2 min read
Congress Enacts The SECURE Act As Part Of Year-End Spending Bill
The U.S. Senate today passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 as part of the fiscal 2020 spending bill, which the House passed on Tuesday. The SECURE Act will make it easier for small businesses to offer employee retirement plans. It will also give retirement savers greater flexibility to participate in plans and choose investment options and will encourage adequate savings amounts. The American Council of Life Insurers (ACLI) estimates that SECURE will result in 700,000 additional American workers saving for retirement.
