Advocacy in action blog

Senate Majority Whip John Barrasso (R-WY) and Rep. Claudia Tenney (R-NY) have introduced the Simplifying Modern Access to Retirement Tools for Savings (SMART) Act of 2026 into their respective houses of Congress. Sen. Barrasso and Rep. Tenney both cited NAIFA’s strong support in their press releases announcing the legislation.

The grassroots involvement of two NAIFA members from Kansas reveals the power of advocacy in action. In March of this year, Brittany Williams and Cassie Johnson met with Sen. Roger Marshall (R-KS) during NAIFA’s Women’s Fly-In and sparked the senator’s interest in the Retirement Simplification and Clarity Act (H.R. 6324 and S. 5165). This bipartisan legislation, which was previously introduced in the House, would provide retirement savers with flexibility to convert 401(k) account funds to streams of guaranteed lifetime income. After hearing from his NAIFA constituents, Marshall along with Sen. Kirsten Gillibrand (D-NY) has introduced the RSCA in the Senate.

NAIFA CEO Kevin Mayeux, CAE, is among the industry leaders who signed a letter to Sens. Tim Scott (R-SC) and Elizabeth Warren (D-MA) of the Senate Committee on Banking, Housing, & Urban Affairs strongly supporting legislation to modernize federal securities regulation of 403(b) retirement plan investments by providing parity with 401(k) plans and other retirement savings arrangements.

The Planning for Long-term Aging Needs (PLAN) Act, sponsored by Reps. Tom Suozzi (D-NY) and Aaron Bean (R-FL), would direct the Department of Health and Human Services to create a public education initiative to encourage Americans to plan for their potential long-term care needs.

NAIFA President Christopher Gandy, LACP, sent letters to Senators Todd Young (R-IN) and Cory Booker (D-NJ) and Representatives Glen Thompson (R-PA) and Eugene Vindman (D-VA) expressing the association's support for the bipartisan Emergency Savings Enhancement Act. The legislation would modernize Pension-Linked Emergency Savings Accounts (PLESAs), established by the Secure 2.0 Act and supported by NAIFA, to encourage more Americans to use these accounts and remove complex regulatory barriers. 

The bipartisan INVEST Act has passed the House of Representatives in a 302-123 vote. NAIFA supports the legislation to expand retirement-planning options for teachers, employees of nonprofit organizations, and others.

"NAIFA is pleased to see the House take bipartisan action to bolster the ability of more Americans to better prepare for retirement," said NAIFA CEO Kevin Mayeux, CAE. "The INVEST Act would give teachers, hospital workers, nonprofit employees, and others who have 403(b) plans access to expanded investment options, including annuity-linked products that provide guaranteed lifetime income. It would also take steps toward addressing elder financial exploitation and would remove unfair impediments that prevent expert investors who don't meet net-worth thresholds from taking advantage of some sophisticated investments."

Four sections of the bill are particularly noteworthy to financial professionals and their clients.

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.

NAIFA CEO Kevin Mayeux, CAE, issued the following statement on the bipartisan INVEST Act:

NAIFA is pleased the House Ways and Means Budget Reconciliation Title recognizes the need for American families and businesses to plan for their financial futures with access to knowledgeable professionals, affordable insurance products, and certainty in policy. 

A stable tax system that continues to encourage Americans to plan and save for their future is more important than ever. Families are able to protect themselves through the current tax treatment of cash value life insurance, incentives to participate in individual and employer-sponsored retirement plans, savings vehicles for education and emergencies, paid leave, long-term care insurance, and disability insurance, and employer-provided health insurance. These measures reflect sound tax policy, established over decades, that gives Americans of all backgrounds the opportunity to attain a secure financial future.  

NAIFA applauds the measure to permanently extend and increase the Section 199A deduction, which many of our members utilize to provide products and services that millions of Americans rely on to improve their financial security. The Section 199A deduction allows small- and medium-sized businesses, which are the backbone of the American economy, to remain competitive and to retain parity in corporate and passthrough income taxation. In addition:

NAIFA has joined industry partners in urging congressional support for the SECURE Notarization Act, which would allow businesses and consumers to work remotely with notaries to execute critical documents. Often, signers must currently be in the physical presence of a notary to complete many transactions, including the signing of insurance and financial documents. These may include insurance claim forms, beneficiary request forms, change of ownership documents, affidavits, powers of attorney, living trusts, advance health care directives, and contracts, to name a few.