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 NAIFA-Texas/IIAT
Joint Legislative Day
January 27, 2009
Hotel Reservations must be made by January 4, 2009. Please call the Holiday Inn Town Lake at 1-888-615-0509 to make a reservation. Please specify, "NAIFA Legislative Day to receive a special room rate.
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SEC Moves to Securitize Indexed Annuities
The US Securities and Exchange Commission voted December 17 to regulate many kinds of indexed annuities. The Commission's Board voted 4-1 to treat indexed annuities as securities when the contracts are set up in such a way that the amounts payable by the insurer "are more likely than not" to exceed the amount guaranteed under the contract. In light of strong opposition to the decision, the SEC voted to impose the rule only for contracts sold after January 12, 2011.
SEC staffers said the rule would be "principles-based," meaning that the insurer's determination at the time it issues a contract would be conclusive, "if, among other things, both the insurer's methodology and the insurer's economic, actuarial and other assumptions are reasonable."
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Critical Issues to Top 2009 Legislative Agenda
Against the backdrop of a nationwide recession and a natural disaster, Texas lawmakers convene Jan. 13 for the start of the 81st legislative session and will be called upon to address issues like health care, education, budget, taxes, aging infrastructure and transportation systems and "sunset" bills to continue the Texas Department of Insurance.
Texas ranks first in the country in uninsureds, with more than 5.5 million Texans including 1.4 million children lacking health insurance, according to the Texas Medical Association.
Hurricane Ike has created a deficit for the Texas windstorm pool and has wiped out any anticipated budget surplus. A new business activity/"margin" tax, passed in 2006 in a special called session, has raised a billion dollars less than expected and may be tweaked by lawmakers in an attempt to raise revenues. The law exempts agents and financial advisors who operate as sole proprietors or general partnerships.
NAIFA-Texas will be working to insure that the best interests of the consumers of insurance products and services are protected during the session and will be issuing legislative alerts, as appropriate, to call upon members to contact lawmakers on specific issues impacting the industry.
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Join the Ranks of Texas Leaders Today!
Texas Leaders Round Table (TLRT) is now accepting applications for membership in 2009. TLRT is Texas' own honor organization, recognizing top producers in the state and offering a great opportunity to network with other leaders.
As a member of TLRT, you'll receive a plaque recognizing your production achievement in 2008 and $100 off the registration to the Texas Leaders Round Table Roundup, an annual event held each July featuring sales ideas and MDRT-level educational and motivational speakers from across the country.
Become a member of TLRT today and join the ranks of Texas Leaders!
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Photo: Chris Hatton, Jeff Potter and Lane Boozer (top, left to right) join Susan Hatton, Attorney General Greg Abbott and Rep. Tan Parker (bottom, left to right) at a NAIFA-Texas PAC co-hosted event near Denton.
Political Advocacy: The Foundation of a Federation
December 13 marked the official end of the 2007-2008 election cycle, closing the window of opportunity for campaign contributions to be made to officeholders and candidates in races for the Texas House, Senate and statewide offices. The election cycle, which began in July of 2007 following the conclusion of the 80th Session of the Texas legislature, was one of the busiest on record for the NAIFA-Texas Political Action Committee, which contributed almost $50,000 to candidates and officeholders. The requests for contributions came in from all corners of the state, with Political Involvement Committee members in each local association requesting and/or recommending that candidates in their local districts receive support from the NAIFA-Texas PAC.
"Leaders in our local associations were engaged and mobilized in this election cycle more than in any I can recall in," said T. Les Littleton, NAIFA-Texas PAC Chair. He added, "Our involvement has sent a message to the members of the legislature that NAIFA-Texas has a strong grassroots network for political activity and involvement that is able to raise funds and connect with lawmakers across the state."
Although it is said that, "money is the mother's milk of politics," personal connections with lawmakers are a cornerstone of NAIFA-Texas' grassroots efforts. "While political contributions are important," said Des Taylor, NAIFA-Texas' Chief Legislative Officer, "they are always made more potent when delivered by a member who knows the legislator, or is willing to develop a relationship with him or her, and therefore gives a face to the organization."
With the beginning of the legislative session now less than thirty days away, NAIFA-Texas is working to strengthen its political network and promote its legislative agenda. Throughout the session, members will be called upon to make contact with their lawmakers when critical issues arise in Austin.
PHOTO: Marion Hampton (left) and Wes McKnight (right) of NAIFA-Pineywoods with State Representative Wayne Christian.
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LILI Summit Scheduled for January 27-28
Are you an alumnus of the Leadership in Life Institute and looking to refresh the concepts that inspired you to go on and do great things?
Well, you've been asking for it for 8 years and it is finally here. The first Alumni Summit for Texas' Leadership In Life Institute is scheduled for January 27, immediately following our Legislative Luncheon in Austin, through Wednesday January 28. Alumni will revisit their business plans, see where the plans have taken them, and tweak them as needed. They also will discuss a couple of new books, as well as have a little fun in Austin and participate in NAIFA-Texas Legislative Day.
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 National IFAPAC to Hold Annual Training in Austin on January 30-31 Representatives from across the NAIFA federation will gather in Austin on January 30-31, 2009 to receive training in political action and involvement. NAIFA-Texas member and State Representative David Farabee of Wichita Falls will provide welcoming remarks to attendees of the event on Friday afternoon.
In addition to political action and grassroots political involvement training, the members of the National Membership Committee will also meet in Austin on the same days.
PHOTO: NAIFA-Texas member and State Representative David Farabee of Wichita Falls.
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Special Board Meeting Called for January 26
The NAIFA-Texas Board of Directors will meet in Austin on Monday, January 26, 2009. Among the issues the board will be considering are:
- NAIFA-Texas legislative agenda, including possible changes in the Texas Guaranty law;
- Receipt of a report from the investment committee; and
- Approval of changes to the administrative office policies
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Spotlight on the NAIFA-Dallas Annual Gala
On November 20, NAIFA-Dallas hosted its annual gala honoring state and federal lawmakers from Dallas and its surrounding areas. The evening featured a silent auction, musical entertainment and a keynote address from Pamela Villarreal, an expert on retirement, social security, economic growth and tax issues with the National Center for Policy Analysis.
Additionally, NAIFA-Dallas recognized James W. Rutledge, CLU, ChFC with its highest member honor, and the NAIFA-Dallas foundation recognized the community service contributions of the Salvation Army.
PHOTO: Keynote Speaker Pamela Villarreal addresses attendees of the NAIFA-Dallas gala, with Gala Chair James Garner, CLU, ChFC seated at the dais.
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