Voya to Exit Most of Its Annuity Business
5 Big Questions About Life Insurance for 2018
5 Big Questions About Annuities for 2018
Members of the Senate confirmed Preston Rutledge as the head of the Employee Benefits Security Administration Thursday, by a voice vote.
Rutledge, who will be an assistant secretary of Labor, succeeds Phyllis Borzi.
Rutledge has been the senior tax and benefits counsel for Sen. Orrin Hatch, R-Utah, the chairman of the Senate Finance Committee.
(Related: Trump Names New EBSA Chief to Replace Borzi)
Before going to work for Hatch, Rutledge was a tax law specialist at the Internal Revenue Service. He has also worked as a benefits lawyer in private practice.
He has a bachelor’s degree from the University of Idaho, a law degree from George Washington University, and an L.L.M. in taxation from Georgetown University.
As the head of EBSA, Rutledge will oversee a low-profile division of the U.S. Department of Labor that shapes and administers group benefits regulation.
EBSA is the DOL division that drafted the DOL’s fiduciary rule, as well as the regulations implementing the group benefits plan provisions of the Affordable Care Act and of the Mental Health Parity and Addiction Equity Act.
EBSA has also been working on an overhaul of group disability plan claim administration standards. EBSA recently announced a short delay in efforts to implement the group disability standards.
The American Council of Life Insurers and the Insured Retirement Institute put out statements welcoming the Rutledge confirmation.
Dirk Kempthorne, the president of the ACLI, said Rutledge has shown a strong understanding of the financial and retirement security challenges Americans are facing.
Lee Covington, IRI’s general counselor, said IRI hopes to work with EBSA on proposals that could increase retirement savings and boost use of lifetime income products.
—Read Feds Officially Delay Obama-Era Group Disability Regs, a Little on ThinkAdvisor.
— Connect with ThinkAdvisor Life/Health on Facebook and Twitter.
DOL issues final rule to delay compliance date by 60 days; asks for comments on Trump memorandum.
You are signed up!
ThinkAdvisor’s TechCenter is an educational resource designed to give you a competitive edge by keeping you abreast of new tech innovations and need-to-know information that can be applied to your business. padding: 0px;width: inherit; ETF & Smart Beta Research
A survey of advisors nationwide reveals how the use of ETFs is expanding and what factors are likely to further support this trend. padding: 0px 81px;width: inherit; Retirement Wire
Your resource for news, research and analysis to help you deliver more effective outcomes to your clients. Resources Client Guide: How to Tackle Hard Conversations About Alzheimer’s and LTC
Use the information in this guide to help your clients understand Alzheimer’s and the value of planning ahead
3 Differences Between Life Insurance and Roth IRAs
Are you still submitting paper applications on behalf of your insurance clients? It‘s time to go digital or risk going extinct.
Join this webcast to see how Trisha Qualy, Director of Wealth Management at AdvisorNet Financial, took client assets from $100 million to $1.3 billion in…
Join this complimentary webcast to learn innovative strategies that have proven effective in containing rising health costs.
Join this conversation as a panel of experts provides tips and best practices to optimize your tech resources for business growth.