Advocacy in action blog

NAIFA members in Washington state and across the country have dedicated their careers to ensuring their clients are well-prepared for retirement. Financial professionals offer a robust variety of products and services, working with employers and employees, alike, to provide retirement security options.

American Council of Life Insurers (ACLI) President and CEO Susan Neely and NAIFA-Washington President Karl Kuntz issued the following joint statement on legislation signed into law in Washington that strengthens protections for annuity consumers:

“The new law sponsored by Representative Kristine Reeves, approved by the legislature, and signed by Governor Jay Inslee strengthens protections for consumers in Washington state seeking lifetime income through annuities.

NAIFA Policy Director Maeghan Gale testified to Washington state lawmakers that ample private-sector options are available for employers who want to set up retirement plans for their workers or for employees who want to prepare for retirement on their own. Washington lawmakers are considering a feasibility study for a potential state-facilitated Auto-IRA program.

Chris Bor, LUTCF, CLU, ChFC, a loyal NAIFA member since 1998 and Immediate Past President of NAIFA-WA, testified at a hearing of the Washington State Senate Business, Financial Services & Trade Committee on the use of life insurance, annuities, and policy riders in long-term care planning. He gave an overview of a wide variety of LTC planning options and discussed the value of agents and advisors to consumers. Bor also serves as Vice-Chair of NAIFA's National Membership Committee.

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.

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.

NAIFA-WA is urging changes to a long-term services bill, HB 1323, to protect employees who have purchased long-term care coverage.

The Washington State Office of the Insurance Commissioner recently announced that two NAIFA-WA members were selected to serve on the commissioner’s Life & Disability Producer Advisory Committee. The members, Robert Rockett and Mark Ingersoll, are both independent Life Insurance, Annuity, Disability Income, and LTCi wholesalers.

Rockett, of Rockett Financial Services, in Raymond, WA, is a New York Life Advisor and long-time active member of NAIFA. “He brings decades of rural financial planning experience as well as the relationship with New York Life,” said Wayne Lundy, NAIFA-WA’s immediate past president.

Ingersoll is President and CEO of Washington Brokerage in Seattle. “Mark also has decades of experience and brings the wholesaler side of the industry to the ear of the Commissioner’s office,” Lundy said. “NAIFA Washington is very pleased to have these two very knowledgeable members sitting on this committee.”

The Office of the Insurance Commissioner appoints members to act as consultants to the agency. One committee represents life and disability markets. Another committee represents property and casualty markets.

The commissioner and agency executives meet with committee members twice a year to discuss critical issues and developments within the industry.

Legislation now before the Washington Legislature in Olympia that would create a state-run retirement plan “misses the mark,” writes Ryan Jewell, a member of the Board of Trustees with NAIFA’s Washington Chapter, in a letter to the editors of the Seattle Times.