Decoding D.C.

AALU’s weekly Government Affairs product covering essential policy and politics for the advisor.


SECURE Act Floor Action / Ambassadors in Action with Sens. Scott and Cornyn / DOL Rule

Topics: Advisor Standard of Care, Congress, DOL, IRS, Regulation, Retirement security, SEC, Treasury Department

May 17, 2019 This Week in Washington We learned yesterday that the full House of Representatives will vote on the SECURE Act (H.R. 1994) next week. AALU’s Capitol Hill Club Day during TRANSFORM 2019 played a key role in driving this legislation forward. Ambassador in Action During TRANFORM 2019, Ambassadors met with Sens. Tim Scott...

Retirement Help for Individuals with Student Loan Debt

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

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…

Ambassadors in Action with Senator Ron Wyden (D-OR)

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…

COLI/BOLI Alert; Amb Action w/ Rep. Gottheimer (D-NJ); NJ fiduciary proposal; How SECURE Act and RESA could help your business?

Topics: Advisor standard of conduct, COLI/BOLI, Congress, Regulation, Retirement security

April 19, 2019 This Week in Washington COLI/BOLI Alert: Proposed Regulation Responsive to Life Insurance Concerns 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 sale requirements. This new provision has a narrow, but…

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…

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…

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…