The Department of Labor remains amenable to allowing commissionson lifetime income annuities, as well as the marketing ofproprietary annuity products, according to theleadership of the Insured Retirement Institute, which representsthe interests of insurance companies, among others.
In a press conference laying out the trade association’s 2016agenda, Cathy Weatherford, president and CEO of the IRI, and LeeCovington, IRI’s general counsel, said they remain confident theDOL is taking seriously the insurance industry’s concerns with theDOL’s proposed fiduciary rule, and therestrictions it would place on the sale of annuity products.
The rule is expected to be finalized in a matter of months.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
