Cash balance plans are an underutilized tool that can help business owners accelerate their retirement savings and realize tax benefits, writes Ross Brown, vice president of business development at Payden & Rygel. Setting up a cash balance plan is a way for advisors to show their worth and strengthen the advisor-client relationship, Brown writes.

Full Story: Financial Planning (4/13) 

Underwriting, risk mitigation, claims handling and pricing methodologies can be improved as artificial intelligence technologies continue to advance, according to experts. "It's not changing the business model, but it makes our current insurance business a lot more efficient," said Ericson Chan of Zurich Insurance. Separately, however, a report from Team8 notes that appropriate guardrails are needed to ensure that AI doesn't allow for the exposure of confidential information.

Full Story: Business Insurance (4/18),  Bloomberg (4/18) 

A House subcommittee challenged the Department of Labor on its proposed independent contractor rule, with Chair Kevin Kiley, R-Calif., saying, "We believe independent contractors are critical to the 21st century economy." The hearing came a day before the beginning of the confirmation hearing for Julie Su, President Joe Biden's selection to serve as Labor secretary.

Full Story: Financial Advisor (4/19),  ThinkAdvisor (free registration) (4/19) 

Some long-term-care trends have emerged as the coronavirus pandemic has receded, Fred Anderson of the Minnesota Department of Commerce told the National Association of Insurance Commissioners' Long Term Care Insurance Task Force. They include a rise in home-based care and an increase in the incidence and length of claims.

Full Story: InsuranceNewsNet Magazine (3/14) 

NAIFA plans to launch a new Life Underwriter Training Council Fellow program this year, CEO Kevin Mayeux announced during the quarterly State of NAIFA webinar. The program will be "a solely NAIFA governed and administered program with an overhauled curriculum," Mayeux said.

Full Story: InsuranceNewsNet Magazine (1/11) 

NAIFA has been successful in gaining the attention of Capitol Hill lawmakers thanks to the influence of its 50,000 members and its "very robust program of engagement for our members," said Diane Boyle, NAIFA senior vice president for government relations. Additionally, five current Congress members are former NAIFA members including Sen. Tim Scott, R-S.C., who is set to become the highest-ranking Republican on the Senate Banking Committee.

Full Story: InvestmentNews (tiered subscription model) (1/11) 

Clients considering a Roth conversion need to act now because the deadline is Dec. 31, not in April as many people believe, write tax experts Robert Bloink and William Byrnes. They also warn about employee retention credit scams and advise contractors and those who have provided services to watch out for 1099-K forms.

Full Story: ThinkAdvisor (free registration) (11/9) 

The pandemic has served as a wake-up call for many people on the need for estate planning, and long-term-care planning has also become part of the conversation, writes Brett Stein of Northwestern Mutual. "Millennial clients want to know they can protect their retirement savings while maintaining their lifestyle and understanding exactly what long-term care costs is an important first step," Stein writes.

Full Story: ThinkAdvisor (free registration) (11/14) 

A Nationwide Retirement survey found that 40% of workers plan to postpone their retirement, twice as many as a year ago. The survey also found that fewer people are confident in their retirement plans, with 58% saying they feel confident, down from 72% last year.

Full Story: InsuranceNewsNet Magazine (11/15) 

During a recent conference, LIMRA President and CEO David Levenson shared survey results illustrating trends in the life insurance sector, including declining post-pandemic sales and the rising average age of insurance producers. "One of the challenges that we continue to have as an industry, and I think it's really acute right now, is how do we get younger folks just out of college to join, especially on the distribution side," Levenson noted.

Full Story: InsuranceNewsNet Magazine (11/16)