Delaware Does it Right

Retirement security has been an elusive goal for many Americans. The economic slowdown prompted by COVID-19 hasn’t made things any easier. Fortunately, there is support for Americans on the horizon. And it’s emerging from states like Delaware. This week, Delaware Insurance Commissioner Trinidad Navarro proposed a rule that would ensure that American savers retain access … Continue reading "Delaware Does it Right"

Rhode Island Moving to Protect its Citizens’ Financial Security

For many Americans, concerns about their retirement security have intensified in 2020 due to the economic disruption and market volatility triggered by COVID-19.  Their concerns can be lessened through financial security products offered by life insurers, including annuities. Annuities are the only financial product in the marketplace that can guarantee lifetime income.  Americans receive valuable information … Continue reading "Rhode Island Moving to Protect its Citizens’ Financial Security"

Department of Labor Should Protect Retirement Savers’ Access, Choices

The economic slowdown caused by the COVID-19 pandemic has pushed more older workers out of work. Many of those affected are increasingly anxious about their retirement security. The last thing policymakers should do now is to create more anxiety for those needing some retirement certainty. Unfortunately, that’s exactly what the Department of Labor has done with its … Continue reading "Department of Labor Should Protect Retirement Savers’ Access, Choices"

It’s the Rule of Law: Protecting Consumers’ Best Interest

Earlier this year, Iowa’s Insurance Department approved a best interest annuity rule that closely follows the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transactions Model Regulation. A few weeks later, Arizona Governor Doug Ducey signed a bill into law that also mirrors the NAIC model. Iowa and Arizona demonstrated how states can provide people purchasing annuities … Continue reading "It’s the Rule of Law: Protecting Consumers’ Best Interest"

Department of Labor Should Retain Access, Choices for Retirement Savers

Retirement savers have different needs when it comes to advice and guidance. So, it’s important that consumers have access and choice. Some people practice a buy-and-hold strategy, engaging financial professionals who earn  transaction-based commissions. Others seek and pay for ongoing advice and management services from fiduciary advisers. Retirement savers also seek to be treated fairly. … Continue reading "Department of Labor Should Retain Access, Choices for Retirement Savers"

Fiduciary-Only Shuts Out Some Americans Saving for Retirement

The “fiduciary-only” voices are at it again – this time attacking the Labor Department for attempting to follow the law, and by doing so safeguard access for lower- and middle-income savers. With its 2016 fiduciary rule vacated by the Fifth Circuit Court of Appeals, Labor recently restored its original investment advice rule.  The Department’s goal … Continue reading "Fiduciary-Only Shuts Out Some Americans Saving for Retirement"