IRI Members to Take Message directly to Deputy Assistant Secretary

WASHINGTON, D.C. - The Insured Retirement Institute (IRI) today will meet with leadership of the U.S. Department of the Treasury to discuss IRI's recent response to the Request for Information (RFI) on guaranteed lifetime income by the Obama Administration. IRI President and CEO Cathy Weatherford will be joined by members of IRI in a meeting with Senior Adviser to the Secretary and Deputy Assistant Treasury Secretary for Retirement and Health Policy Mark Iwry.

In April, IRI sent a "broad, comprehensive" response to the RFI, outlining four major conceptual requests of the administration. This request came after the administration made it clear it would "promote" annuities and other guaranteed lifetime income strategies through its Middle Class Task Force.

"We are pleased that the administration is moving forward in its efforts to explore and promote annuities as means to help provide retirees dependable, trusted sources of guaranteed retirement income," Weatherford said. "Throughout the recent economic crisis, not one annuity provider ever missed a payment to a consumer, underscoring the stability and peace of mind guaranteed income strategies offer. And given the unsure footing of Social Security, the value of a guarantee has never been greater. We are pleased to have the opportunity to meet with Secretary Iwry and look forward to continuing the discussion in the weeks and months to come."

IRI has long been engaged with the Department of the Treasury regarding the value of guaranteed lifetime income. Deputy Assistant Secretary Iwry spoke directly to IRI's membership at IRI's 2009 Annual Meeting last September regarding various options for annuitization within defined contribution retirement plans. Last December, IRI sent a follow-up letter to Iwry, asking to continue the dialogue regarding the integral role annuities can play in achieving a financially sound retirement.

To read IRI's full response to the RFI, CLICK HERE or go to:

http://www.irionline.org/pdfs/20100429_RFI_IRI_Response.pdf

About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is a not-for-profit organization and is the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. IRI exists to vigorously promote consumer confidence in the value and viability of insured retirement strategies, bringing together the interests of the industry, financial advisors and consumers under one umbrella. IRI's mission is to: encourage industry adherence to highest ethical principles; promote better understanding of the insured retirement value proposition; develop and promote best practice standards to improve value delivery; and to advocate before public policy makers on critical issues affecting insured retirement strategies. Visit www.IRIonline.org to experience the new, vast resources of the new Insured Retirement Institute for yourself.

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