Looking Forward to NAIFA’s Congressional Conference

By Kevin Mayeux, CAE

NAIFA’s annual Congressional Conference is always a special event for those who attend and for our association as a whole. It is our best chance to exert NAIFA’s influence and show members of Congress and our industry partners why NAIFA continues to be the voice of our industry and the leading advocate for advisors and their clients.

This year’s Congressional Conference, May 22-23, is certain to be even more impactful than ever. Our goal is to bring 1,000 advisors to Washington, D.C., to network with their politically savvy peers, benefit from workshops and main stage presentations by NAIFA’s advocacy experts, and meet with representatives, senators and staff from every congressional office. During our day on the Hill, NAIFA members build relationships with their elected officials and provide legislators with real-world examples of how insurance and financial advisors bolster our nation’s economic health and provide crucial products and services to American workers, small businesses and families.

Do not miss out! Registration opens soon; so, keep an eye on your email in-box and our home page at www. NAIFA.org for the official announcement.

NAIFA’s multi-faceted advocacy approach

While the Congressional Conference, the industry’s largest Capitol Hill fly-in, is certainly NAIFA’s most visible advocacy effort, it is not the full extent of our work. I would like to thank all of the NAIFA members who meet with their representatives and senators in their home districts, contribute to IFAPAC, attend fundraisers or town halls, and write, email, or call their legislators to advocate on behalf of their businesses, colleagues and clients. You are a major reason for our success. NAIFA’s professional staff is also constantly working to support our members and industry in Washington. Together, we have an impact that makes those in seats of power take notice, and a survey by professional researchers at the National Journal bears this out.

Tax reform: An advocacy success

Perhaps NAIFA’s influence was never more evident than during the recent federal tax-reform debate. The final law passed by Congress and signed by the president remains controversial in some quarters, but the efforts of NAIFA, our members and our coalition partners minimized the harmful impacts on advisors and clients. Consider what we were able to achieve:

• “Rothification” was not included in the House or Senate bills.

• There are NO changes to how life insurance and annuity products are taxed!

• If you encourage businesses and individuals to save for retirement, the bill does not limit the amount of pre-tax contributions to retirement plans or Individual Retirement Accounts (IRAs).

• If you work with long-term-care clients and prospects, or those with large health expenditures, the bill does not repeal the medical expense deduction and lowers the threshold for two years from 10 percent of AGI to 7.5 percent of AGI.

• If you help employers offering workplace benefits, the bill does not limit the tax treatment of employer-sponsored benefits.

• If you offer other employee benefits, the bill does not change current tax rules for non-qualified deferred compensation or corporate owned life insurance.

• If you offer securities, the bill does not include the first in first out (FIFO rule) provision.

A valuable return on your membership investment

Our advocacy influence and success is a leading benefit of NAIFA membership. It ensures that you and your colleagues thrive in your businesses and are able to continue helping your friends, neighbors and all Americans manage risk, prepare for retirement and meet their financial goals. It also allows you to get involved, connect with your industry, and show your professional dedication to your peers and clients.

More than 1,000 of us will be doing all of that in Washington, D.C., in just a few months at the Congressional Conference. I look forward to seeing you there.