NAIFA Grassroots Advocacy: August In-District Meetings 2022
Elevate your advocacy game with NAIFA's August in-district meetings, a vital part of grassroots strategy. Learn about meeting types, pledges by state, and key issues. Stay #NAIFAProud!
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Presentation Transcript
Chapter Challenge! August In-District Meetings 2022 Issue Briefing @NAIFAAdvocacy #NAIFAProud
A Note from Mike Peters After an incredible return to an in-person Congressional Conference, the first since 2019, it s important that NAIFA Grassroots does not take their foot off the advocacy pedal! The NAIFA Grassroots Committee has created an August in- district meeting pledge form that requires states to decide what they believe is an achievable number of in-person meetings with legislators and their staff during the August recess. @NAIFAAdvocacy #NAIFAProud
Importance of in-district meetings In-district meetings are a crucial part of NAIFA s grassroots strategy meetings throughout the year at Congressional Conference, during the recess, and at the National Leadership Conference in the fall. It s a continuing drumbeat of grassroots advocacy. In-district meetings build on the momentum created by Congressional Conference. Especially in an election year, it s important to keep our issues front-of-mind for lawmakers. @NAIFAAdvocacy #NAIFAProud
Types of Meetings Congressional & Senate district office Campaign events Townhalls Candidate forums Zoom Fundraisers Speak with Joe Minardi to discuss IFAPAC contributions to attend @NAIFAAdvocacy #NAIFAProud
August In-District Pledges by State @NAIFAAdvocacy #NAIFAProud
Introduction by Facilitator We are members of NAIFA the nation s oldest and largest insurance and financial services association with members in every Congressional district. Visiting DC in May, NAIFA members experienced the industry s impact throughout history (show DC Passport and share how you re continuing the tradition of advocating for Main Street Americans). Ninety percent of NAIFA members serve middle-income individuals and families, and 69 percent of our typical client s annual household income falls below $150,000. We believe our profession is more than a job. We are committed to putting our clients needs first when helping to protect against financial risks associated with death, disability, illness, and long-term care; and protect against longevity risk with guaranteed lifetime income options. @NAIFAAdvocacy #NAIFAProud
Background on SECURE 2.0 Background:Three bills making their way through this Congress are likely to provide the building blocks for bipartisan retirement reform legislation. 1. They are the Securing a Strong Retirement Act of 2021 (SECURE 2.0), sponsored by House Ways and Means Committee Chair Richard Neal (D-MA) and Ranking Member Kevin Brady (R-TX). 2. The RISE and SHINE Act, sponsored by Senate Health, Education, Labor and Pensions (HELP) Committee Chair Patty Murray (D-WA) and Ranking Member Richard Burr (R-NC). 3. The EARN Act, sponsored by Senate Finance Committee Chair Ron Wyden (D-OR) and Ranking Member Mike Crapo (R-ID). Among other benefits, these bills would increase the ability of older employees to make "catch-up" contributions to retirement plans, provide more opportunities and incentives for small employers to offer retirement plans, and offer plan owners more flexibility in their retirement planning. @NAIFAAdvocacy #NAIFAProud
Financial Protection The pandemic has taken a toll on families and businesses. Our industry has been challenged, too. There s been a 15 percent increase in death claims, but the industry was positioned to meet this challenge without asking for assistance from the government. Tax policy should encourage Americans to plan for financial and retirement security for themselves, their families, and employees. The independent contractor/statutory employee model is the distribution model most insurance companies and producers adhere to within the insurance industry. We are small business owners, not misclassified workers but would fail an ABC test. New rule to record all enrollment conversations puts many Medicare beneficiaries in danger of not being able to receive advice from licensed, certified insurance professionals during this year s annual enrollment period. Creating additional taxes or a new standard that does not exempt financial service professionals from an ABC test severely limits the scope of insurance products consumers would have access to as well as the general distribution of insurance products and professional advice, thereby limiting consumers ability to protect themselves and their loved ones. @NAIFAAdvocacy #NAIFAProud
Standard of Care NAIFA members agree to abide by the NAIFA Code of Ethics, which requires us to work in the best interests of our clients. The National Association of Insurance Commissioners (NAIC) revised model regulation on annuity transactions (adopted by 27 states so far) together with the Securities and Exchange Commission s (SEC) Regulation Best Interest (Reg BI) and the new DOL PTE 2020-02 provide a robust framework that protects Americans planning and saving for the future and managing their retirement savings. NAIFA supports these new rules that provide protections while preserving access to products and guidance. The DOL has expressed interest in additional rulemaking. Now is not the time to resurrect failed policies like a fiduciary-only approach that has been proven to eliminate access to financial guidance for those with smaller retirement accounts and widen the racial wealth gap. @NAIFAAdvocacy #NAIFAProud
Retirement Security Congress should continue its excellent work to make it easier for employers to sponsor retirement plans, increase employee participation and improve overall retirement readiness. Bipartisan, bicameral efforts are commonly called SECURE 2.0. The House recently passed retirement legislation with substantial bipartisan support, and the Senate Committees of jurisdiction have approved two bipartisan bills to make meaningful enhancements to overall retirement readiness. House and Senate versions of these bills are expected to be combined for inclusion in a must-pass bill, such as year-end government funding. Some enhancements already included in these bills are the employer matching of student loan repayments, tax credits for start-up plans, and an increase in the Required Minimum Distribution age to 75. Aggregation of plans for Required Minimum Distribution purposes would also be a simplifying enhancement worthy of inclusion in a combined bill. If there is an opportunity, we ask you to support its inclusion. @NAIFAAdvocacy #NAIFAProud
Questions? If you have any additional questions between now and September 9th, please reach out to Andrew Holt at (Aholt@NAIFA.org) @NAIFAAdvocacy #NAIFAProud
Quick Links Congressional Staff Directory GOTV Website Andrew Holt s email Pledge Form @NAIFAAdvocacy #NAIFAProud
