Win the Game for Everyday Americans, Pass the SECURE Act

Last Sunday, college football fans nationwide learned which bowl game their team would play in. After weeks of speculation, they gained the certainty they need to plan. Iowa Hawkeye fans like me learned they can book flights to San Diego. They’ll be playing in the Holiday Bowl on December 27. Penn State boosters like my daughter learned they’ll play in the Cotton Bowl on December 28 in Dallas. And University of Texas supporters learned the Longhorns will play in the Alamo Bowl on December 31 in San Antonio. Now it’s time to get certainty from Capitol Hill. Everyday Americans stand … Continue reading "Win the Game for Everyday Americans, Pass the SECURE Act"

Don’t Criticize Good Ideas to Ensure Retirement Security!

InvestmentNews labeled Sen. Pat Toomey’s proposal to allow American consumers limited access to retirement savings to cover long-term care as one (among other) “ideas to raid retirement savings.”  I don’t see it that way. Long-term care insurance covers caregiving costs due to an inability to perform activities of daily living or cognitive loss. Most Americans who experience such a loss first need care during their golden years. Without long-term care coverage, the cost of that care can wipe out a lifetime of retirement savings in short order.  Long-term care insurance provides funds for caregiving that typically aren’t covered by Medicaid … Continue reading "Don’t Criticize Good Ideas to Ensure Retirement Security!"

NAIC Annuity Initiative Aligns with SEC Reg BI to Protect Consumers

When consumers are considering what to do to save for their future, they should take comfort in knowing that financial professionals have the consumers’ best interests first and foremost in mind when making recommendations. Thanks to recent actions by the National Association of Insurance Commissioners (NAIC), consumers across America are one step closer. Last weekend at the NAIC’s meeting in Austin, Texas, the NAIC’s Life Insurance and Annuities Committee unanimously approved a proposal to enhance the NAIC’s Suitability in Annuity Transactions Model Regulation. In a nutshell, the revised regulation would crystallize and strengthen the strong framework of consumer laws and regulations … Continue reading "NAIC Annuity Initiative Aligns with SEC Reg BI to Protect Consumers"

Now’s the Time for the SECURE Act

Many have urged passage of the SECURE Act this year. A bipartisan victory here would benefit millions of everyday Americans. Here’s what leaders and stakeholders are saying: “Passage of this legislation will strengthen retirement savings and offers an opportunity for lawmakers to help workers, families, and small businesses.” – Alexander Hendrie, ATR “The SECURE Act as a whole is a big net winner for the overwhelming majority of Americans. The sooner Congress passes it, the better.” – Ryan Ellis, Center for a Free Economy “As an organization dedicated to serving veterans, we applaud members of Congress who have supported the SECURE Act. It overwhelmingly … Continue reading "Now’s the Time for the SECURE Act"

E-Delivery for Retirement Plans is a Winner

If you’re reading this, you have the ability to receive information through electronic media. You may be reading this on your smartphone or tablet. Have you checked your bank account or retirement account online this week? How many “apps” have you used today? According to the Pew Research Center, in 2019, 90% of U.S. adults use the internet. That includes 88% of adults ages 50-64 and 73% of adults over age 65. And more and more Americans are using electronic media for financial transactions. A Federal Reserve report found that 82% of smartphone users with a bank account used online banking.  So, it’s … Continue reading "E-Delivery for Retirement Plans is a Winner"

Senate Can Support Volunteer First Responders by Passing SECURE Act

I bet you didn’t know the United States is protected by 80% more volunteer firefighters than career firefighters. I bet you also didn’t know that the number of volunteer firefighters has been dropping precipitously. Don’t feel bad – I didn’t know these facts either. But I do know this: there is legislation awaiting U.S. Senate approval that will help attract and retain these and other brave volunteers. That legislation is the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The SECURE Act exempts certain volunteer recruitment and retention incentives from being subject to federal income tax. Across the nation … Continue reading "Senate Can Support Volunteer First Responders by Passing SECURE Act"

SECURE Act Benefits the Many, Not the Few

Low and middle-income Americans struggling to save for retirement are counting on the U.S. Senate to pass the SECURE Act. There’s no time to wait. Millions of Americans would benefit. One provision alone will get 700,000 Americans who work for small businesses to begin saving for retirement. SECURE is essential to help address America’s retirement savings gaps. There is overwhelming, bipartisan support for SECURE. In fact, 417 members of the U.S. House voted for the bill. Only three members voted against SECURE.  That’s less than 1 percent of the legislative body. It should be noted that a few have expressed … Continue reading "SECURE Act Benefits the Many, Not the Few"