Today marks a big step toward making sure that consumers nationwide receive strong, harmonized protections when they receive financial guidance. The National Association of Insurance Commissioners (NAIC)—made up of each state’s head insurance regulator—virtually unanimously adopted a model regulation that puts consumers’ interests first. The NAIC’s Suitability in Annuity Transactions Model Regulation makes sure that … Continue reading "A Big Win for Retirement Savers at the NAIC"
Due to public health concerns caused by the COVID-19 outbreak, the 2020 ACLI Capital Challenge was cancelled. ACLI has started planning for next year’s race, tentatively scheduled for May 19, 2021. Three months from tomorrow, the 2020 election will take a backseat to another political race – one that is more crowded, but also more … Continue reading "ACLI Capital Challenge: A Fierce Race With Many Winners, Especially Financial Literacy"
Today, the American Council of Life Insurers (ACLI) was proud to host the Council for Economic Education (CEE) as the group released its biennial Survey of the States report on financial education. Fortunately, this year’s report shows that after years of stalled progress, more high schools across America are requiring economics and personal finance classes to graduate. … Continue reading "Lifting All Boats Through Financial Education"
This op-ed originally appeared in the South Florida Sun Sentinel. Much more is at stake than advertised in a bill — HB 1189/SB 1564 — titled, “Genetic Information for Insurance Purposes,” sponsored by Florida House Speaker-designate Chris Sprowls and state Senator Kelli Stargel. It is not just about people being able to keep private genetic information gained from an … Continue reading "Consumers’ Own Interest at Stake with Genetic Privacy Bill"
Last month President Trump signed a spending bill that included the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The SECURE Act will provide a huge boost for America’s retirement savers. Among other benefits, the bill will enable more small businesses to offer retirement plans, allow older workers to contribute more to their retirement … Continue reading "ACLI Supports Junior Achievement, Financial Literacy"
Massachusetts is about to impose an elitist, fiduciary-only standard for those seeking financial services. Sadly, as the industry that helps small- and moderate-savers to plan their financial futures, we know this would hurt the very people it claims to protect. I offered testimony at a related hearing today, as did Paul Quaranto of Boston Mutual … Continue reading "Elitist Proposal Denies Choices to Bay State Retirement Savers"
Earlier today President Trump signed the 2020 spending package, which wisely included the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. This is a huge win for millions of retirement savers, groups like Gold Star families, and bipartisanship. With the SECURE Act now the law of the land, our nation has taken … Continue reading "Retirement Savers Win Thanks to SECURE Act Becoming Law"