Milwaukee, WI (December 12, 2013) - NAFA, the National Association for Fixed Annuities, has celebrated fifteen years of being a driving force in the fixed annuity industry and ensuring their success and importance in the retirement planning marketplace.
Originally founded in 1998, NAFA is a trade association exclusively dedicated to educating 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 arena, covering 84% of fixed annuities sold by independent agents, advisors and brokers.
Since its inception, the association has expanded its reach significantly and has proudly established itself as the authority on fixed annuities. NAFA has celebrated many milestones, particularly this past year, that have helped shape, strengthen and diversify the industry and businesses of annuity professionals.
The association's 2013 accomplishments include:
- Testifying at the National Association of Insurance Commissioners (NAIC) on the potential negative impact of the Department of Labor's proposed Fiduciary Standards rule.
- Assisting Senator Orrin Hatch's office with research related to the creation of the Secure Annuities for Employee Retirement Act of 2013.
- Securing a decision in Illinois, that indexed annuity products sold in that state are not subject to securities registration under Illinois law.
- Informing the amicus brief and assisting with annuity information which played a key role leading up the California Court of Appeals reversal of the Glenn Neasham conviction.
- Taking an active role in the NAIC's development and adoption of an updated annuity buyer's guide to help consumers understand fixed annuities.
- Helping move product complaints to record lows due to increased producer and consumer education efforts.
- Joining the SecureFamily.org coalition, an organization dedicated to educating policymakers about the critical role life insurance products play in the financial lives of 75 million American families.
- Creating the Annuity Education Toolbox for NAFA members.
- Participating in the continued progress of NAFA Annuity Outlook Magazine, which continues to inform and educate annuity professionals.
- Providing key support in the establishment of SAFE, The Society for Annuity Facts and Education, a national nonprofit focused on providing reliable annuity information resources.