AALU/GAMA and NAILBA, appreciate the opportunity to submit comments on the Department of Labor’s (“Department”) notice of proposed class exemption (“Proposed Exemption”) regarding the provision of non-discretionary investment advice to Employee Retirement Income Security Act (“ERISA”) retirement plans and participants, Individual Retirement Accounts or Individual Retirement Annuities (“IRA”) and other types of tax-preferred accounts subject to IRC Sec. 4975.
Category: Comment Letter
STATEMENT ON BEHALF OF THE LIFE INSURANCE COMMUNITY
Susan Neely – President and CEO, American Council of Life Insurers
George Nichols III – President and CEO, American College of Financial Services
Marc Cadin – CEO, AALU/GAMA
Kevin Mayeux – CEO, National Association of Insurance and Financial Advisors
David Levenson – President and CEO, LIMRA, LOMA and LL Global
Life Insurance Community Denounces Racial Injustice
The life insurance community grieves with the nation over the racial injustice, brutality and bigotry that took the life of George Floyd and the lives of so many others. Too often, the justice system has failed, bringing devastating consequences such as destroyed hope, fear and division.
Overcoming today’s agonizing rupture and advancing promise for all will require engagement by each of us – a resolve to face the pain, anxiety and frustration experienced by Black Americans and others subjected to prejudice. We must move forward with moral purpose, making contributions with our own abilities and sustained commitment.
For our part – on behalf of life insurance companies, producers and financial educators – when we say we’re committed to providing financial security to all Americans, we mean it.
We stand committed to helping all people take care of those they love – our most critical mission. Financial well-being is not just a state of mind, and we must focus our collective knowledge on empowering prosperity and opening avenues for collective growth. We are committed to identifying new policies that will provide greater financial security to more people – particularly for the most vulnerable among us.
We stand committed to sustained partnership in the community to drive solutions to address systemic inequality. And we stand committed to fostering diversity and inclusion for our employees and the workforce.
Building a diverse and inclusive profession for those we serve and those we employ is a journey. And we’re in it for the long term.
The tumult, hurt and anger we see today must be addressed for every person seeking to heal, find peace, experience equality, achieve unity, believe in the present, and have faith in the future for themselves and their families. As Dr. King said, “The time is always right to do what is right.”
We do it together.