Wins & Accomplishments

NAIFA 2017 Advocacy Victories and Accomplishments


  • 3/16/17 – NAIFA member Matt Tassey testified before Congress on Section 125 Cafeteria Plans. His testimony focused on allowing sponsors of cafeteria plans to participate in their own plans and allowing plans to pay for long-term care insurance premiums.
  • 3/30/17 – The SEC approved FINRA Rule 2165, which is designed to protect seniors from financial exploitation. The rule permits brokers to place holds on disbursements from the accounts of consumers 65 and older or those 18 and older who the broker "reasonably believes has a mental or physical impairment that renders that individual unable to protect his or her own interests." The rule also amended FINRA Rule 4512 to require brokers to make reasonable efforts to obtain the name of and contact information for a trusted contact person for a customer’s account.  Both changes are effective February 5, 2018.
  • 4/13/17 – Congress passed and the president signed H.J. RES 67 invalidating the Dept. of Labor’s rule which would have facilitated city and municipality-run retirement plans by exempting such plans from coverage under ERISA. 
  • 5/3/17 – Congress passed H.J. RES 66 invalidating the Dept. of Labor’s rule which would have facilitated state-run retirement plans by exempting such plans from coverage under ERISA. The president is expected to sign the joint resolution.


  • 3/22/17 – NAIFA-Montana played a leading role in the passage of legislation to protect seniors from financial exploitation by ensuring advisors and firms can voluntarily report suspicious financial transactions involving senior clients to state authorities. 
  • 4/4/17 – Legislation which NAIFA-Tennessee strongly supported and advocated for was enacted permitting advisors to charge fees to clients in connection with a health insurance plan if the advisor will not receive a commission as part of the transaction, provided that the advisor discloses in writing the amount of the fee and the services for which the fee is to be charged.  In Arizona, NAIFA-Arizona supported and advocated for similar legislation which is expected to be signed into law in the near future. 
  • 4/26/17 – NAIFA-Colorado played a key role in defeating state-sponsored retirement plan legislation. This proposal would have required many employers to participate in a state-run retirement plan for employees that would have needlessly competed with the broad range of private-market retirement solutions available, and would have cost the state significant sums to develop, implement and operate.

Download 114th Congress (2015-2016) GR Wins PDF
Download Advocacy Brief PDF
Download Advocacy Adds Up PDF
Download Working with Regulators PDF