DD.C.

Retirement Security in the 116th Congress

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…

Back in-District – AALU Members host Rep. Josh Gottheimer (D-NJ)

Chet and Chris began developing their relationship with Congressman Gottheimer in 2017, first meeting with his staff in D.C. and gradually getting to know the Congressman himself. As Chet said at the breakfast: “I’ve been a long-time member of AALU, and at first I was really intimidated by getting to know a member of Congress.…

Impact of proposed regulations on reportable policy sales on COLI/BOLI marketplace

April 19, 2019 Disclaimer This memorandum is not intended to constitute tax or legal advice. The Regulation https://www.govinfo.gov/content/pkg/FR-2019-03-25/pdf/2019-05400.pdf Comments are due May 9, 2019. Background The Tax Cuts and Jobs Act of 2017 included language that modified the Transfer for Value rules related to certain life insurance contracts by subjecting them to new reportable policy…

Impact of proposed regulations on reportable policy sales on COLI/BOLI marketplace

Disclaimer This memorandum is not intended to constitute tax or legal advice. The Regulation https://www.govinfo.gov/content/pkg/FR-2019-03-25/pdf/2019-05400.pdf Comments are due May 9, 2019. Background The Tax Cuts and Jobs Act of 2017 included language that modified the Transfer for Value rules pertaining to certain life insurance contracts by subjecting them to new reportable policy sale requirements. This…

A Running Start to the Year – What We’ve Accomplished:

Since the beginning of the year, AALU’s Ambassadors have worked coast to coast to advocate on behalf of the issues that matter most to the financial security profession. Covering a range of topics from the estate tax to retirement security, AALU Ambassadors stepped up to build trusted relationships, with our initial efforts focused on the…

From Producer to Member of Congress!

Representative Brad Schneider (D-IL) is a former AALU member! He served as the managing principal of the life insurance firm Davis Dann Adler and Schneider from 1997 – 2003. Today, he serves on the Ways and Means Committee and represents Chicago’s northern suburbs. Representative Al Lawson (D-FL) built a successful Northwestern Mutual practice in Tallahassee,…

Retirement Bills on the Move

The SECURE Act was considered by the Ways and Means Committee on Tuesday and reported favorably by a unanimous voice vote. Chairman Grassley said on Wednesday that passage of RESA is one of his top priorities. Both of these important bills will help our membership empower more Americans with enhanced savings for retirement. You can…

Just like your clients, Congress needs to prepare for retirement(s) too

Five members have already announced their retirements. Senator Tom Udall (D-NM) announced he will not seek a third term; he is the first Democratic incumbent Senator to retire in the last two election cycles. New Mexico’s federal delegation is currently comprised of all Democrats after defeating the last Republican candidate in 2018 when Democrat Xochitl…

Rep. Suozzi’s Support for Financial Security

Over the last two years, Bob has developed a great working relationship with Rep. Suozzi. When engaging with lawmakers, establishing a connection with the Member of Congress is crucial– especially for new lawmakers who may be unfamiliar with the life insurance profession. During the lunch, Bob shared a personal story to highlight the meaningful impact…

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