Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
Milwaukee, WI - November 1, 2012 - Wendy Waugaman, the late President & CEO of American Equity Investment Life Holding Company, was announced as the inaugural recipient of the National Association for Fixed Annuities' (NAFA) lifetime achievement award. NAFA’s Insurance Marketing Advisory Council’s (IMAC) presented the Bo Johnson Spirit Award for Lifetime Achievement at its IMO Summit. The award recognizes courage, spirit and determination that challenges the status quo, inspires others to achieve, contributes unselfishly to others, and works ethically and conscientiously to improve the fixed annuity marketplace.
Marla Lacey, the Chief Compliance Officer and Associate General Counsel of American Equity, was also a close friend and colleague of Waugaman. She accepted the award on Waugaman's behalf and stated, ”Wendy was a true visionary and dedicated her corporate career to the advancement of fixed annuity products. Without her courage, leadership and strategic direction in the battle to repeal SEC Rule 151A, our industry would have been forever changed. Wendy worked tirelessly to establish best practices and believed deeply in the value of our products for consumers. Her untimely death has left a great void in our business and she is and will continue to be greatly missed. “
NAFA's IMAC committee named the award in honor of Bo Johnson. Johnson was well known for his energy, enthusiasm and love of the fixed annuity industry. He was a proud member of NAFA and served as a board member for several years and was the original chair of IMAC. His life was cut much too short when he died in 2009 after a courageous fight with cancer. He exhibited the attributes outlined in the award created in his name and left a very positive and lasting imprint on the annuity industry.
NAFA, the National Association for Fixed Annuities, is a national trade association exclusively dedicated to promoting the awareness and understanding of fixed annuities – including income, declared rate, market value adjusted and indexed. NAFA is the only association whose sole purpose is advocating for the fixed annuity product and educating regulators, legislators, consumers, members of the media, industry personnel, and distributors about fixed annuities and their benefits to retirees and those planning retirement. Learn more at www.nafa.com.
W. Scott Hinds - Education & Training Director