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The Race Is On: NAIFA, Others Push for State Approval of NAIC “Best Interest” Model

State insurance regulators finally have hammered out their "best interest" model regulation for annuities, and now NAIFA and other industry players are pushing states around the country, both liberal and conservative, to pass the new standard.  The goal, according to Diane Boyle, NAIFA's Senior Vice President for Government Relations, is to quickly establish a consistent approach throughout the U.S., "and then [...]

By | February 20th, 2020|Categories: News Alerts|0 Comments

Social Security “Blind Spots”: the Facts that Few People Know

According to a new survey from SimplyWise, there are five common blind spots in people's understanding of Social Security benefits and requirements--and that, of course, highlights the critical need for consumers to rely on a financial advisor.  According to SimplyWise, only 42 percent of survey respondents knew at what age they should begin claiming Social Security in order to receive [...]

By | February 13th, 2020|Categories: News Alerts|0 Comments

With Clock Ticking, Will DOL Propose New Fiduciary Rule?

Industry observers have been wondering when the Department of Labor (DOL) will issue its new fiduciary rule--a replacement for the Obama-era rule that the 5th Circuit Court of Appeals struck down in March 2018--ever since the SEC passed its Regulation Best Interest last year. The time clock became even more of an issue when Congress passed the SECURE Act late [...]

By | February 7th, 2020|Categories: News Alerts|0 Comments

Legislative Breakfast Comes to Rochester

NAIFA-Rochester hosted Day 2 of this year's Western New York legislative breakfast tour, featuring association leaders and members, state lawmakers and staff, and senior members of the NAIFA-NYS government relations team.  On the agenda were discussion of next steps for the NAIFA-NYS continuing education (CE) credit bill, Regulation 187 "best interest" implementation issues, rebating reform, and NAIFA's Life & [...]

By | February 7th, 2020|Categories: Member News|0 Comments

Buffalo Legislative Breakfast Kicks Off 2020 Tour

The 2020 NAIFA-NYS legislative breakfast tour began, as it has traditionally, in Buffalo - one of the state's strongest local associations.  State and regional leadership, including NAIFA-NYS President and NAIFA-Buffalo past president Phil Held, spoke to the importance of NAIFA membership and advocacy.  Senior NAIFA-NYS government relations staff briefed members, non-members, and state legislators and staff on critical public [...]

By | February 6th, 2020|Categories: Member News|0 Comments

79 Percent of Employers Say Their Workers Struggle Financially

A new report finds that 79 percent of employers believe their workers face "persistent" financial problems, including high credit card, childcare, and other consumer debt; medical expenses; and problems saving for retirement.   The 2019 MassMutual Workplace Financial Wellness Study found that larger employees were more likely to express concern about their workers' financial health. According to employers who responded to the [...]

By | December 5th, 2019|Categories: News Alerts|0 Comments