Regulation

Impact of Final Treasury Department Section 199A Regulations on Availability of Passthrough Deduction for Life Insurance Professionals

Topics: 199A, Regulation, Tax reform, Treasury Department

WRNewswire: The 199A Deduction Series Impact of Final Treasury Department Section 199A Regulations on Availability of Passthrough Deduction for Life Insurance Professionals Favorable results for commission-based life insurance sales This WRNewswire was created exclusively for AALU members by Ken Kies, Managing Director, Federal Policy Group and AALU outside tax counsel. January 30, 2019 …

Final Pass-Thru Guidance Issued (199A), Shutdown Update, and More

Topics: 199A, Capital gains, Congress, Regulation

January 25, 2019 Beyond the Headlines The shutdown continues. The State of the Union is postponed, as is Republican lawmakers’ annual planning retreat. Affected government employees will miss their second paychecks of the shutdown today. AALU joined with the U.S. Chamber of Commerce and 384 organizations calling on Congress and the President to end the…

IRS Blesses Employer’s 401(k) Plan Designed to Provide Retirement Benefits Tied to Student Loan Repayments

Topics: 401(k), IRS, Regulation

In an IRS Private Letter Ruling (“PLR”) issued last year, PLR 201833012, the IRS blessed a 401(k) plan design in which employees who repay student loan debt instead of making 401(k) employee contributions can receive employer retirement contributions to make up for missed 401(k) matching contributions. Incorporating a student loan repayment (“SLR”) feature into a…

What You Need to Read

Topics: IRS, Life insurance products, Regulation, Tax reform

January 17, 2019 Wealth Transfer Modern Divorce Settlements Are About to Look A Lot Different Due to a provision in last year’s tax bill, the income tax ramifications of alimony payments will likely cause divorce settlements to look differently going forward. In response to the change, instead of requiring the wealthier spouse to pay alimony...

Introducing Pulse, by AALU

Topics: 162(m), Estate planning, IRS, Qualified Plans, Regulation

Welcome Members! We are excited to introduce Pulse, AALU’s new e-newsletter. Curated by AALU, with input from the best and brightest in our membership, Pulse aims to save you time while keeping you on top of the most significant developments. We welcome and appreciate your feedback on this, as we look to continue to evolve…

The SEC Standard of Care Proposal and Best Interest Regulation: Where Do We Go from Here?

Topics: Advisor Standard of Care, Best interest, Regulation, SEC

Join us as Bridget McNamara-Fenesy, CEO & President of M Holdings Securities, and Jim Lundy, Partner at Drinker Biddle discuss the SEC’s Standard of Care Proposal and AALU’s engagement to date, as well as the Proposal’s intersection with best interest efforts at the state level. Bridget and Jim will review the key tenets of the…

New York State Releases Final Best Interest Regulation

Topics: Advisor/Producer Standard of Conduct, Best interest, Regulation

Yesterday afternoon, the New York Department of Financial Services issued a final best interest rule. As expected, the final rule applies to both life insurance and annuity products, including in-force life insurance policies. While there were positive changes to the rule—for example, it limits the scope on in-force policies to transactions generating new sales compensation—it…

DONE DEAL: The DOL Fiduciary Rule is Officially Dead

Topics: DOL, Regulation

It’s finally official—the DOL Fiduciary Rule is dead. On June 21st, roughly a week after all opportunities for DOL to appeal had passed, the 5th Circuit Court of Appeals officially issued the decision it reached in March, vacating the DOL Rule in its entirety. This marks the end of a controversial regulation first proposed in…

New York State Best Interest Re-Proposal for Annuity and Life Insurance Products – Second Comment Period Closes

Topics: Advisor/Producer Standard of Conduct, Best interest, Regulation

New York State Best Interest Re-Proposal for Annuity and Life Insurance Products – Second Comment Period Closes Thursday, 21 June 2018 WRN 18.06.21 On April 27, the New York Department of Financial Services (DFS) re-proposed its best interest standard for life insurance and annuity products. The deadline for comments was June 15, and AALU…

New DOL Rules on Disability Claims May Impact Retirement and Deferred Compensation Plans.

Topics: DOL, Qualified Plans, Regulation

New DOL rules became effective on April 1, 2018 regarding claims procedures for disability benefits offered in employee benefit plans. The rules apply not only to long-term and short-term disability plans, but may also apply to 401(k) and other qualified retirement plans, as well as non-qualified deferred compensation plans and SERPs. The new rules provide…