FOR IMMEDIATE RELEASE Contact: Katherine Knight Patterson
March 27, 2020 (703) 641-8142
Applauds legislation now signed into law that will provide emergency relief to businesses, families, and workers affected by COVID-19 epidemic
WASHINGTON, D.C.—AALU/GAMA CEO Marc Cadin today applauded passage of the Coronavirus Aid Relief and Economic Security (CARES) Act, which was signed into law this afternoon. The CARES Act passed the House Friday, after the Senate approved the legislation unanimously earlier this week.
“The resilience of this nation is being tested,” said Marc Cadin, AALU/GAMA CEO. “We have a tough challenge before us, but with the CARES Act signed into law, Americans will receive critical relief to put the pieces back together. The COVID-19 pandemic has impacted the health of the global economy, how businesses operate, and the lives of our loved ones, and we all have to do our part to navigate this crisis together.”
The $2 trillion package provides loans and assistance for businesses of all sizes, direct payments to low- and middle- income individuals, and expanded benefits to the unemployed through July. In addition, people can access their employer-sponsored retirement funds without penalty up to $100,000, among other provisions.
Cadin continued, “We all have to do our part to ensure Americans have the necessary tools to restore their financial security, and we are here to help not only our members but every person in this profession and all the people they serve.”
In response to the pandemic, AALU/GAMA launched the COVID-19 Action Center for the financial security professionals to receive the resources they need to serve their business and clients. The portal features weekly webinars, podcasts, news updates, and exclusive content surrounding the global health crisis.
AALU, the Association for Advanced Life Underwriting, is the leading organization of financial professionals who provide life insurance and retirement planning solutions for individuals, families, and businesses. AALU has a rich history of success with a single focus on the issues impacting life and annuity products, and the clients its members serve. Headquartered in Washington, D.C., AALU is committed to providing its members with the essential tools and services required to help grow their businesses, serve their clients, and protect the financial and retirement security of the American people.
About GAMA International
GAMA International is an independent national nonprofit organization 501(c) (6), founded more than 85 years ago. GAMA International is the only association dedicated to promoting the professional development needs and leadership skills of first-line and front-line leaders in the insurance, investment, and financial services industry.
AALU and GAMA International announced in July 2019 that they will be joining forces to create a new organization representing the financial security profession later this year.
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