The Gathering Storm
In Washington, we face the possibility of attack on the tax preferences for our industry's products.
"Pay As You Go" budget rules, now in effect in both houses of Congress, require that revenue must be found for every dollar of expense Congress authorizes.
The tax benefits of life, health, disability income and long-term care insurance, as well as annuities and qualified and nonqualified retirement plans, will most assuredly be under scrutiny by the tax-writing committees of Congress, since they represent one third of the tax preferences in the US Tax Code and therefore a substantial amount of potential revenue loss for the government.
In Austin, the Texas Legislature considers banning the sale of Corporate Owned Life Insurance (COLI), ending the protection of life insurance and annuities from seizure by creditors and adopting unreasonable disclosures in the sale of insurance and financial planning products.
Additionally, revisions to the Business Activity Tax, passed during the 79th 3rd Special Session could end the exemption of agents and financial advisors who operate as sole proprietors or general partnerships.
Our products and our businesses are under increasing scrutiny by legislative authorities seeking more tax revenue and greater regulation of the insurance industry and its sales practices.
Where is our safe harbor?
The National Association of Insurance and Financial Advisors - Texas is providing protection on a daily basis for all professional agents and financial advisors in the state of Texas. For 83 years,
NAIFA-Texas has been fighting on the front lines to keep the agent in insurance and to protect the products that so greatly serve the needs of our clients.
NAIFA-Texas' ability to protect agents and financial advisors from the legislative and regulatory storms will remain only as strong as its membership. We need to maintain the force that comes with membership, grassroots political efforts and political contributions. Renew or join today and help protect our industry from the gathering storm that threatens our livelihood.
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NAIFA-Texas Thanks
 Michael E. Myers, President
2008 Sponsors of the TLRT Roundup & NAIFA-TX Annual Meeting
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| Congratulations to:
NAIFA-Wichita Falls
NAIFA-El Paso
Winners of the 2008 Wrangler Award!
Stephanie Perez of NAIFA-Central Texas
Winner of a free year of NAIFA membership in the sponsor a new member contest!
NAIFA-Wichita Falls
Recipient of the IFAPAC Tribute to Excellence Award
NAIFA-Dallas
NAIFA-Houston
Recipients of the IFAPAC Leadership Citation
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NAIFA-Texas Annual Meeting
Thompson Takes Reins of Texas Leadership
 Earl A. Thompson, RFC, LUTCF, of NAIFA-Houston officially ascended to the office of NAIFA-Texas President for the year 2008-2009, following Alan Carl, RHU, REBC, of NAIFA-El Paso. In his remarks to the NAIFA-Texas Delegate Council, Thompson promised "not to reinvent the wheel," but to "keep it running smoothly." Thompson praised the leaders of the past and stated his desire to make NAIFA-Texas an even stronger force for "keeping the agent in insurance."
Thompson is a State Farm agent and Past President of NAIFA-Houston and Houston GAMA. Additionally, he is a past recipient of the John N. Neighbors Award, NAIFA-Houston's highest honor.
In his tenure on the NAIFA-Texas Board, Thompson served as the Director of Region 10 and chaired several committees and taskforces.
Delegates Adopt New Governance Model
The NAIFA-Texas Delegate Council approved several bylaws amendments at its annual meeting, held July 26 in Kerrville.
Most prominently, the Council approved the transition of NAIFA-Texas from a Regional Director to Trustee model of governance. Under the new governance model, the NAIFA-Texas Board will consist of five officers and seven trustees, down from the ten regional directors who currently occupy the Board. Trustees, to be elected from the membership at large beginning in 2009, will serve two-year terms on the Board and will be limited to two-consecutive terms of service.
Additionally, the Delegate Council reduced the term of the NAIFA-Texas National Committeeman from three years to two years.
In anticipation of the first Trustee election, to be held in July of 2009 at the Austin Airport Hilton Hotel, the NAIFA-Texas Board is developing election rules and procedures to be considered at the Fall Board meeting in October.
Clark Elected Secretary/Treasurer
Cylinda A. Clark of NAIFA-Dallas was sworn in as NAIFA-Texas' new Secretary/Treasurer on Saturday, July 26, following her uncontested election to the position. Clark, a past president of NAIFA-Dallas, previously served as NAIFA-Texas Regional Director and State Membership Chair. She is also an alumnus of the Leadership in Life Institute.
With her election, Clark is placed in line to become NAIFA-Texas' second female President, following in the footsteps of Rosalie Kuntz, LUTCF, in 1984-1985. In addition to her service with NAIFA-Texas, Clark has been a top producer for A&H Benefits, a division of Ayers Financial in Dallas.
Addressing NAIFA-Texas' Delegate Council, Clark called upon her passion for membership and the many "worthwhile activities [NAIFA members] lead and participate in."
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Stenholm Offers Insight into Looming Federal Issues
Former Texas Congressman Charles Stenholm addressed an enthusiastic group of more than 150 members at the NAIFA-Texas Legislative Luncheon, held Saturday, July 26, 2008, in Kerrville, TX. The event, held to honor those members of NAIFA-Texas serving in the Texas Legislature, occurs annually in conjunction with the NAIFA-Texas Annual Meeting.
With 2008 being a non-legislative year in Texas and a federal election looming on the horizon, Stenholm was selected as the luncheon speaker to provide an "inside the beltway" perspective on the goings-on in Washington, D.C. and what they mean for the NAIFA federation. A 26-year veteran of the Congress, Stenholm now serves as Senior Policy Advisor to top lobbying firm Olson Frank Weeda.
Stenholm predicted Democratic party gains in the fall for House and Senate races, and spoke of the "tightening race" between John McCain and Barack Obama. Covering a variety of issues, Stenholm pointed to the energy crisis, federal debt, funding for social security and the call for universal health care to underscore the importance of bipartisan solutions in challenging times.
NAIFA Secretary Tom Currey, CLU, LUTCF, followed Stenholm, stating that Pay-Go rules, which require that revenues be found for every dollar of expense that Congress authorizes, make the insurance industry an easy target for lawmakers looking for solutions to major federal issues.
Photo: Congressman Charles Stenholm (top right) with NAIFA-Texas CEO/CLO Des M. Taylor, NAIFA Secretary Tom Currey, John Ruckel, Michael E. Myers and Dianne Myers.
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Awards and Achievements
Ruckel Receives NAIFA-Texas' Highest Honor
On Saturday, July 26, John M. Ruckel, LUTCF, of NAIFA-Pineywoods was presented with the NAIFA-Texas Lifetime Achievement Award. The award, which stands as NAIFA-Texas' highest honor, was presented by the 2007 recipient John N. Neighbors, LUTCF. Both Neighbors and Ruckel served as President of NALU/NAIFA in 1990-1991 and 1999-2000, respectively, and are past presidents of TALU/NAIFA-Texas.
Ruckel is a 30 year member of the Texas Leaders Round Table and a contributor to NAIFA-Texas PAC at the Diplomat Level. He was joined by family members including his sons, Grant and Damon, and wife, Deborah.
In receiving the Lifetime Achievement Award, Ruckel joined a group of select few, including past-recipients Oscar Newton, Charlie Flowers, Tyson Payne, Ken Tooley, C. Dean Davis, Robert Ehlers, O.C. Jackson and John Neighbors.
PHOTO: John Neighbors, LUTCF (right) presents the 2008 Lifetime Achievement Award to John Ruckel, LUTCF.
NAIFA-Texas Tops Large States in MembershipWith the ink still fresh on NAIFA's final membership numbers, NAIFA-Texas has been declared #1 among large states in the NAIFA federation in percentage of membership goal met. NAIFA-Texas finished the year with 3,402 members, achieving over 90% of its membership goal. "Local associations are where the rubber meets the road in the quest for a great membership year," said NAIFA-Texas President Earl A. Thompson, RFC, LUTCF. "The state membership team, led by Cylinda Clark, was incredibly effective in motivating local leaders to get the job done and produce great results," he added. At the NAIFA-Texas Annual Meeting, 2007-2008 Membership Chair Cylinda Clark introduced Alyson J. Guest, LUTCF, of NAIFA-Houston as the Chair for 2008-2009. Guest spoke of her "hands on" approach she hopes to bring to the position and promised another great membership year for NAIFA-Texas.
NAIFA-Great Southwest Honors "Tall Texan"
H. Dan Smith, CLU, LUTCF, of NAIFA-Dallas was honored with NAIFA-Great Southwest's Bruce Murray "Tall Texan" Award at the NAIFA-Texas PAC Reception on Saturday, July 26.
The award, honoring those who follow in the proud tradition of Bruce Murray by excelling in the areas of political, association and community involvement, is given annually at the NAIFA-Texas Annual Meeting.
"Dan Smith is a modern day Bruce Murray," said Lesley Pinckard, CLU, in her presentation of the award, "and he has kept Murray's legacy alive with his tireless commitment to preserving and growing NAIFA-Texas PAC."
PHOTO: H. Dan Smith, CLU, LUTCF and Lesley Pinckard, CLU.
Massey, Ehlers Elected to Executive Committee
Doug Massey, CLU, ChFC, FSS, of NAIFA-San Angelo and Steve Ehlers, LUTCF, CEP, of NAIFA-Houston were elected to the NAIFA-Texas Executive Committee at the Post-Convention Board Meeting, held Sunday, July 27 in Kerrville.
The Executive Committee is comprised of the five officers of NAIFA-Texas, two Regional Directors and the NAIFA-Texas CEO/CLO as an ex officio member. The committee is responsible for acting on behalf of the board between regularly scheduled meetings.
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