AALU to Congress: Don’t touch our products
May 7, 2014 by Warren S. Hersch
Tax law changes proposed in a discussion draft of the U.S. House Ways and Means Committee could prove devastating to the industry, notably in respect to sales of permanent life insurance products used to fund non-qualified deferred compensation plans for business executives.
So warned the AALU executive leadership team during the opening general session of the association’s 2014 annual meeting, held in Washington, D.C., May 4-6. The gathering touched on tax policy issues of most concern to the industry, talking points that AALU members will be expected to take up when they meet with lawmakers on closing day of the conference, and on association-building efforts underway to make AALU a more powerful force on Capitol Hill.