National Association of Insurance and Financial Advisors

GovUpdate: DOL Proposes Rule That Would Exempt State Run Retirement Plans from Coverage Under ERISA

November 18, 2015

Issue: Should the DOL Adopt Regulations that Ease ERISA Concerns for State Programs that Unnecessarily Compete with Private Market Retirement Plans Action Taken: On November 17, 2015, the U.S. Department of Labor (DOL) published for comment a proposed rule that would create a “safe harbor” against ERISA preemption to help ensure that state lawmaker’s efforts to create state-run/sponsored retirement programs do not violate key provisions of the Employee Retirement Income Security Act of 1...

2016 Congressional Conference Registration Now Open!

November 16, 2015

REGISTER NOW NAIFA’s Congressional Conference will bring together hundreds of agents and advisors to Washington, D.C., to learn about the legislative issues that matter to people in our industry and how these issues impact our business and our clients’ financial well-being. As a Conference participant, you will be educating your Members of Congress on issues of concern and helping to shape national public policy. NAIFA will provide Conference participants with issues education and advoca...

NAIFA Influence Grows: Speaker of the House Compliments NAIFA Leader

November 16, 2015

The personal relationships that NAIFA members share with elected officials are an important facet of NAIFA’s successful political advocacy strategy. While mass mobilization campaigns play a role in an effective advocacy program, nothing can replace the power of a personal relationship between a NAIFA member and a key elected official.   NAIFA member Ken Specht participates in countless district meetings in Wisconsin and numerous days on the Hill in DC including testifying before the House...

Fiduciary Issue Boiling Over in the Government Funding Bill

November 16, 2015

The enactment of the budget/debt limit bill (H.R.1314) last month averted the risk of a government default on existing debt and set the “topline” government funding levels. However, lawmakers must still enact, by December 11, the appropriations bill(s) that will implement the budget agreement. Failure to do so means a government shut-down. But it won’t be smooth sailing, despite the budget agreement. Controversy surrounding whether to include policy riders—including the fiduciary issue—is alr...

House Members Offer Legislative Alternatives to DOL Fiduciary Proposal

November 16, 2015

Three separate legislative alternatives to the Department of Labor (DOL) fiduciary proposal have emerged in the House of Representatives. One bill, H.R.1090, would halt DOL work on the fiduciary issue until after the Securities and Exchange Commission (SEC) acts. It passed the House on a partisan vote. Another bill, H.R.3922, would codify a best interest standard subject to “workable rules.” H.R.3922 is also partisan. The third initiative is still in development, but is bipartisan. Its author...