For ‘commitment to commonsense policies’ and closing the income-gapInaugural Awards Ceremony Held in Washington, DC
WASHINGTON (June 18, 2019) — In an effort to highlight the tremendous work being done to protect and promote fixed annuity products and advocate for the value of annuities as part of a comprehensive retirement plan, NAFA, the National Association for Fixed Annuities, presented awards of recognition to two legislators and a number of industry leaders during its ninth annual Annuity Leadership Forum. The Forum was held at The Watergate Hotel in Washington, DC, June 11-13, 2019.
NAFA took to Capitol Hill to present its Legislator of the Year Awards to Sen. Tim Scott (R-SC) and Rep. Richard Neal (D-MA). Chuck DiVencenzo, NAFA’s president and CEO, presented the Senate Legislator of the Year Award to Sen. Scott in recognition of his commitment to commonsense retirement policies and working to address the retirement income gap many Americans are facing. The Senator also recently introduced legislation that would designate a state insurance commissioner as a voting member of the Financial Stability Oversight Council (FSOC), ensuring the insurance community has not only a seat at the table but also a vote when federal regulators consider rules that impact the entire financial industry. DiVencenzo then presented the House Legislator of the Year Award to Rep. Neal, Chairman of the House Ways & Means Committee, for leading bipartisan efforts to craft and pass the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, which recently passed the House 417-3. This legislation will increase retirement saver access to annuities through defined benefit plans, among many other provisions that stand to improve the future of retirement for all Americans.
Addressing The Longevity Risk
“At a time when Americans are living longer and pension plans are disappearing, the need for closing the retirement income gap has never been greater. On behalf of NAFA, I’d like to thank Sen. Scott and Chairman Neal for their willingness to educate their Congressional peers and the American public about ways to address retirement challenges and for their tireless efforts to enact legislation that enhances access to fixed annuities as insurance against living too long,” said DiVencenzo. “I appreciate their willingness to accept the awards we presented as a ‘thank you’ for their hard work and dedication.”
To close out the Forum, the association distributed Pillar Awards to three of its members. The Pillar Awards were established to recognize volunteers on NAFA’s Education, Government and Legal Affairs, and Membership Committees who have gone above and beyond to help the organization fulfill its mission to Educate, Advocate, and Integrate the fixed annuity industry and those it serves. Recipients included Jack Aiken, president of LTA Marketing, Educate Pillar Award; Paul McGillivray, business development director at M&O Marketing, Advocate Pillar Award; and Paul Kruth, VP and national sales manager at Western and Southern Financial Group Distributors, Integrate Pillar Award.
Finally, DiVencenzo presented NAFA’s Nex-Gen Annuity Leadership Award to five professionals under age 40 who are making a significant impact on the industry. Recipients were nominated by fellow NAFA members for their unique contributions to distribution operations, sales, marketing, and advocacy. Those recognized were Ayanna Burns, vice president of marketing operations at National Western Life Insurance Company; Andrew Payne, vice president and general counsel of CreativeOne; Kristin Shea, senior advisor consultant of Highland Capital Brokerage; Tiya Stanley, sales vice president of North American Company for Life and Health; and David Wolfe, general counsel of Advisors Excel.
“Our Annuity Leadership Forum celebrated the continued leadership and advocacy efforts enabling the record-setting growth fixed and indexed annuity products are currently seeing. It provided a perfect setting for recognizing the contributions of tenured and up-and-coming leaders alike who are integral to the continued success of both NAFA and the industry as a whole. Our organization is privileged to benefit from the time and talent of these professionals, and we’re thrilled to honor these members throughout our organization and the entire fixed annuity marketplace,” said DiVencenzo.
NAFA, the National Association for Fixed Annuities, is the premier trade association exclusively dedicated to fixed annuities. Our mission is to promote the awareness and understanding of fixed annuities. We educate annuity salespeople, regulators, legislators, journalists, and industry personnel about the value of fixed annuities and their benefits to consumers. NAFA’s membership represents every aspect of the fixed annuity marketplace covering 85% of fixed annuities sold by independent agents, advisors and brokers. NAFA was founded in 1998. For more information, visit www.nafa.com.