At the luncheon, the conversation stretched from the recently passed SECURE Act, the invaluable role that companies can have in helping their employees save for retirement, and how the business uses of life insurance can help companies recruit and retain key employees in cities like Birmingham. The Congresswoman asked questions about tax reform and its…
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The first Democratic debate is limited to 20 candidates. Thus far 19 have qualified. Each candidate has two paths to inclusion in the upcoming debate. Any candidate who has at least 65,000 individual donors and a minimum of 200 donors across 20 States will make the cut. Alternatively, any candidate who receives one percentage point…
Congressman Schweikert, who serves on the Ways and Means Committee, visited with Jeff and the team in Phoenix. Representative Schweikert’s day began with a tour of the facility, which included a history of the company and an overview of the profession’s footprint in Arizona. He saw firsthand the team that works to provide value for…
During the dinner, Congressman Schneider discussed a variety of topics with the group including health care, the 2020 election, and tax reform. The Congressman wants to use his new position on the House Ways and Means committee to get things done in Washington, and he intends to work with his fellow committee members to pass…
The Details – Courtesy of Ken Kies, Federal Policy Group The Code generally excludes death benefits from being treated as taxable income.1 However, there is a general exception to this exclusion for death benefits paid on contracts that were transferred for “valuable consideration.”2 This “transfer for value” rule (“TFV Rule”) generally applies to any “transfer”…
IRS Guidance In 2018, the IRS addressed matching contributions for student loan repayments when it issued a Private Letter Ruling (PLR) in response to such a program set up by Abbott Labs. The IRS concluded that the program would not violate the regulations covering 401(k) plans. Earlier this week, Stephen Tackney, Deputy Associate Chief Counsel…
Ambassadors in Action with Senator Tim Scott (R-SC) Over the last few years, John Watson has developed a close relationship with Senator Scott. On April 28, John and Penn Mutual hosted the senator for dinner, where the friendship and mutual respect they have developed was evident as the pair entertained guests over dinner. The senator…
M Financial has built a long-standing relationship with Senator Wyden. Under Wes Thompson’s leadership, that relationship will continue to strengthen moving forward. Over 25 M Financial members attended the event during the final day of AALU’s Capitol Hill Club day. Senator Wyden feels incredibly strongly that AALU members, especially M Financial members, are a critical…
AALU and its Ambassadors have worked tirelessly over the years to develop a strong relationship with Senate Democratic Leader Schumer and are excited for the prospects of doing the same with Senator Peters. Over the course of the dinner, Senator Peters was very supportive of AALU, expressing how during his long career at Merrill Lynch…
Executive Summary More than 75% of Americans believe there is currently a retirement crisis in this country[1]. Members of Congress in both political parties share the ambition to tackle the problem. AALU has been active in advocating to increase access to the retirement system alongside our industry partners and will continue to do so in…