Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
MINOT, N.D. - U.S. Senator Heidi Heitkamp today met with Ward County leaders to discuss rising flood insurance rates and the impact they are having on families in the region.
Heitkamp talked about how she is working to pass the bipartisan Homeowner Flood Insurance Affordability Act, which would stop the steep rate increases, and make flood insurance affordable for families.
On October 1, more than four million home and business owners in the United States, including many in North Dakota, saw their flood insurance rates significantly increase because of reforms to the National Flood Insurance Program (NFIP). Heitkamp is working address this by lowering the rates so they work better for North Dakotans.
"Folks in Minot and Ward County are rightly concerned that wrongheaded flood insurance policies are having a devastating impact on North Dakota families," said Heitkamp. "Not only are these hikes hurting the bottom lines of many North Dakotans, they may force many to go without flood insurance. Making flood insurance affordable just makes sense. I'm working with a bipartisan group of Senators to reverse these hikes, and am committed to coming up with a long-term, affordable solution that will enable North Dakotans to protect their homes from flooding."
The Heitkamp-backed Homeowner Flood Insurance Affordability Act would delay rate increases until the Federal Emergency Management Agency (FEMA) completes a study examining flood insurance affordability. After the study, the bill would mandate that FEMA propose rules to address affordability and give Congress adequate time to review the proposals.
Read this original document at: http://www.heitkamp.senate.gov/public/index.cfm/press-releases?ID=c9144f44-6bc0-4ab6-8ff5-f0c1c9914291