Lobbyists race to make best interest a blanket standard in final few states
January 23, 2024 by John Hilton
Forty-one states operate under new best-interest annuity sales standards based off a model put forth by the National Association of Insurance Commissioners.
It is a standard favored and pushed by industry lobbyists who say it will cause the least disruption to business models. Meanwhile, the Department of Labor is behind closed doors putting the finishing touches on its fourth attempt to establish a fiduciary standard for all retirement plan rollovers transactions.