Log in


NAIFA Oregon News

  • 14 Jun 2020 5:27 PM | Kathy Countryman (Administrator)

    Life insurance application activity was up 5.2% in May compared with a year earlier, according to a report from MIB. The increase was driven by younger age groups, where application activity rose roughly 7%, while application activity among those 60 and older declined nearly 2%.

    Full Story: ThinkAdvisor (free registration) (6/10) 

    LinkedIn Twitter Facebook Email

  • 14 Jun 2020 5:22 PM | Kathy Countryman (Administrator)

    Economists predict Q3 start for US recovery

    More than two-thirds of economists surveyed by The Wall Street Journal say US economic recovery from the coronavirus pandemic will get underway in the third quarter. Respondents expect an unemployment rate of 9.6% by December, lower than an estimate of 11.4% in a previous survey.

    Full Story: The Wall Street Journal (tiered subscription model) (6/11) 

  • 14 Jun 2020 5:11 PM | Kathy Countryman (Administrator)

    Experts: Caution clients about coronavirus withdrawals

    Advisors should warn clients about the dangers of obtaining coronavirus hardship withdrawals from their retirement plans if they don't meet the requirements stated in the Coronavirus Aid, Relief and Economic Security Act, industry experts say. "Down the line, if IRS discovers the issue on audit, the participant can be subject to substantial penalties," one lawyer said.

    Full Story: PlanAdviser online (6/11) 

  • 17 May 2020 8:53 PM | Kathy Countryman (Administrator)

    Most savers are not making large-scale changes to retirement plans in response to the coronavirus pandemic, according to a YouGov survey commissioned by Forbes Advisor. The survey shows 11% of respondents plan to work longer, while 5% of respondents have adjusted asset allocation.

    Full Story: Forbes (5/11) 

  • 17 May 2020 8:52 PM | Kathy Countryman (Administrator)

    "What if?" is the question you need to be asking

    Businesses are entering the second phase of post-pandemic life -- what William Bridges called the "neutral zone" -- where they must ask "what if?" questions in preparation for whatever is next, writes Scott Eblin. "Collecting lessons learned and getting your team (however large or small) involved in that process will bring the beginning of Phase 3 -- the beginning of the new normal -- into focus a little faster and with more clarity," he writes.

    Full Story: Eblin Group (5/12) 

  • 17 May 2020 8:42 PM | Kathy Countryman (Administrator)

    3 things for advisors to discuss with laid-off clients

    Financial advisors who get calls from clients who have lost jobs need to listen carefully and offer solid advice, writes Kimberly Foss of Empyrion Wealth Management. She offers three tips for advisors on what information to provide these clients.

    Full Story: Financial Planning online (5/10) 

  • 05 Apr 2020 6:00 PM | Kathy Countryman (Administrator)

    How advisors can help clients get through this crisis

    Psychologist Dr. Rick Jensen explains how advisors can help clients cope with current market volatility and avoid emotion-driven investment mistakes. It starts with empathizing with clients, taking as much time as necessary and asking them what's keeping them up at night, he says.

    Full Story: InsuranceNewsNet Magazine online (3/27) 

  • 05 Apr 2020 5:56 PM | Kathy Countryman (Administrator)

    Tax filing extension: Time to make IRA, HSA contributions

    When the IRS extended the federal tax filing date to July 15 due to the coronavirus, it also allowed people to make 2019 contributions to an individual retirement account or health savings account up to the new deadline. The deadline for employers to make contributions to a workplace-based retirement plan also was extended to July 15.

    Full Story: PlanSponsor online (3/25) 

  • 05 Apr 2020 5:55 PM | Kathy Countryman (Administrator)

    Retirement plans disrupted by coronavirus

    The coronavirus pandemic is upending retirement plans and eroding investment value for Americans, particularly for older baby boomers who rely on 401(k) plans.

    Full Story: Bloomberg Businessweek (tiered subscription model) (3/26) 

  • 26 Jan 2020 12:47 AM | Kathy Countryman (Administrator)

    It finally happened! On December 19, Congress wrapped up 2019 by passing legislation (H.R.1865) that enacted the SECURE Act, repealed the Health Insurance and Cadillac taxes, extended the National Flood Insurance Program (NFIP) and the Terrorism Risk Insurance Act (TRIA), and funded the government for the rest of FY 2020. President Trump signed the measure into law on December 20.
    Long a top priority for NAIFA, the SECURE Act, among other things, removes impediments to multiple employer plans (MEP), requires employers to illustrate estimates of monthly income for life, based on current account balances, eases rules governing use of annuities in qualified plans, adds new discrimination rule safe harbors to allow more retirement saving, delays imposition of required minimum distribution (RMD) rules to age 72, allows contributions to traditional IRAs by people still working after normal retirement age, and modifies rules for “stretch IRAs” that is restrictive and will require review of current financial plans that include stretch IRA techniques. Details are in the GovUpdate sent to NAIFA members on December 22, 2019.
    H.R.1865 also repealed three Affordable Care Act (ACA) taxes—the health insurance tax (HIT), a tax on health insurers that has been described as a kind of sales tax that would increase the cost of health insurance; the Cadillac tax, a levy on health insurance plans with premiums that exceed a statutory maximum—the tax would have been 40 percent of the premium amount that exceeded the maximums allowed; and the Medical Device Tax. Also in H.R.1865 were rules that extend for one year the above-the-line deduction for unreimbursed medical expenses to the extent they exceed 7.5 percent of adjusted gross income (AGI); a one-year extension of the tax credit for paid family leave; an extension through September 30, 2020, of the NFIP; and a seven-year extension of the Terrorism Risk Insurance Act (TRIA).
    H.R.1865 did not include a solution to the surprise billing issue or any rules aimed at controlling the cost of prescription drugs. However, the new law does include a May 22 expiration date (for funding certain government health programs) that was designed to create a deadline for action on surprise billing and prescription drug cost control issues.
    Prospects: Enactment of H.R.1865 sets up several issues for 2020. First, financial advisors must learn and then implement the new retirement savings rules—which will create substantial new opportunities for NAIFA members and their employer clients. NAIFA plans a webinar to provide education on the details of these new rules, including addressing concerns about the new stretch IRA rules, and the implementation challenges of the 1-1-2020 effective date of most of the provisions. In addition, Congress will have to act later this year to extend –and perhaps reform – the NFIP. The medical expense deduction expires again on September 30, 2020, so Congress must address that issue again this year.
    NAIFA Staff Contacts: Diane Boyle, Senior Vice President – Government Relations at DBoyle@naifa.org; Judi Carsrud, Assistant Vice President – Government Relations at jcarsrud@naifa.org; or Michael Hedge, Director – Government Relations at mhedge@naifa.org.

Address: 7420 SW Garden Home RD - Portland, OR 97223 ● Email: execdirector@naifaoregon.org

Powered by Wild Apricot Membership Software