The National Association of Insurance and Financial Advisors (NAIFA) shares President Trump’s goal of helping more Americans achieve financial security and build stronger retirement savings.
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NAIFA Welcomes Focus on Financial Security in President's State of the Union Address
Topics: Press Release Retirement Plans Trump Accounts
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NAIFA Supports Bill That Would Offer Retirement Plan Rollover Clarity and Annuity Options
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NAIFA supports the bipartisan Retirement Simplification and Clarity Act reintroduced by Reps. Jimmy Panetta (D-Calif.) and Darin LaHood (R-Ill.), which would require the IRS to rewrite documentation that employers must provide exiting employees who request distributions from their 401(k) plans. The new notice would use “clear, straightforward language” to explain various options for 401(k) distributions and rollovers along with their tax implications. The bill would also allow people aged 50 and over to roll over employer-sponsored 401(k) accounts into annuities.
