Join   |   Renew   |   Volunteer   |   Print Page   |   Contact Us   |   Sign In
News & Press: CalAdvisor Newsletter

February President's Message

Friday, February 3, 2017   (0 Comments)
Posted by: Shane Westhoelter, AEP, CLU, LUTCF
Share |

NAIFA-California Members,

DOL-DOL-DOL–have we heard enough about the DOL yet?  Well, not really.  The fact is that we are just about to begin the road of conversations, debates, statements from media to confuse everyone and carriers pushing out more and more information.  Some have asked: CNBC said the DOL regulations have been frozen by one of Trumps executive orders, is this true or false?  Others have stated, they are being told the DOL is now dead. One carrier told me, they are excited because now that DOL has been canceled, they are positioned to write a lot of fixed business in qualified plans. 

The truth is that these statements are not 100 percent accurate, and we need to be careful what we share and react to.  The media likes to make “headlines.”  NAIFA is not about making “headlines,” it is about fighting for what is best for the industry and sharing information as we learn it that is factual based.

The recent statement by CNBC has not been confirmed as of the time of me writing this article. If it is confirmed by the time we publish this article, we still need to understand the process. An executive order doesn't necessarily halt the Department of Labor's order. The issue is that the new director, Andy Puzder's, appointment has been delayed until February 2 by democrats due to 'paperwork issues.' This should delay any freezing of the ruling until after Puzder is placed. Right now NAIFA and other association groups of the financial services industry are requesting a 60-day stay, but they can't do so until after Puzder is in place.

Thus, I encourage each of you as NAIFA members to read news briefs from NAIFA as they come out, stay informed, and when requested to take action, respond. 

In just a few weeks we will gather together in Sacramento for Day on the Hill.  We need to be there to meet with our congressional leaders, express our views and encourage them to vote on issues that support our positions. We need every member to attend. The larger the number, the more impressive we become on Capitol Hill both in California and in D.C. later this year in May. If you have not attended a DOH with NAIFA-California, then make this your first. It is an experience that will help you understand the importance of being a NAIFA member.

As we enter 2017, we need to be diligent, be involved in NAIFA more than ever, and help others understand that NAIFA is the insurance to keeping them in the business. Let’s focus on driving membership for 2017, increasing PAC contributions, and making 2017 a year we can all stand proud as NAIFA members.

See you in Sacramento!


Membership Software Powered by YourMembership  ::  Legal