advocacy

Report on Spring 2021 NAIC meeting

Topics: advocacy, Compliance, NAIC, Regulation

This memorandum was prepared by Greg Serio of Park Strategies, LLC, Association Management for FinsecaNY. May 4, 2021 As expected, the issues of race and insurance and of COVID-19 were two prominent themes throughout the NAIC Spring Meeting, and conversations frequently returned to racial disparities, discriminatory practices, and industry responses to the pandemic. The activities…

Report on Spring 2021 NCOIL meeting

Topics: advocacy, Compliance, NCOIL, Regulation

This memorandum was prepared by Greg Serio, Candace Thorson, and Tom Buchan of Park Strategies, LLC, Association Management for FinsecaNY. May 4, 2021 The National Council of Insurance Legislators (NCOIL) ran a hybrid in-person/virtual meeting immediately after the NAIC meeting this month. NCOIL has been conducting its meetings this way for the past number of…

IRS Issues Surprising Guidance on IRA RMD’s

Topics: advocacy, Estate planning, Estate tax, individual tax, IRAs, Retirement planning, RMDs, SECURE Act

Josh Caron Finseca VP Legislative Affairs 4.20.21 On March 25th, the IRS issued Publication 590, an annual release of the tax rules on withdrawing funds from individual retirement accounts. Contained in the publication is guidance that has been interpreted to state that eligible beneficiaries who inherited an IRA after SECURE went into effect would be…

Budget Chairman Bernie Sanders holds hearing on “rigged” tax code – preview of infrastructure offsets?

Topics: advocacy, Estate planning, Estate tax, individual tax, wealth tax

Josh Caron Finseca VP Legislative Affairs 4.6.21 The Senate Banking Committee, chaired by Independent Senator Bernie Sanders (I-VT), convened a hearing on March 25th to hear from witnesses concerning the “rigged tax code and making the wealthiest people and largest corporations pay their fair share of taxes”. Speaking at the hearing were Abigail Disney (Level…