The Insured Retirement Institute (IRI) is a member-driven association. Our advocacy and compliance agenda is developed and implemented through a broad-based, inclusive, and multi-layered committee structure to ensure alignment and consistency with our members’ needs, goals, and priorities.

IRI’s legislative and regulatory affairs committees and working groups lead and manage IRI’s efforts with respect to legislation and regulations that impact annuities and other retirement income products manufactured, distributed, and managed by IRI member companies. Committees and working groups evaluate and develop consensus policy positions and advocacy strategies on legislative and regulatory proposals, and provide a forum for member companies to discuss compliance and implementation efforts regarding new or revised legal and regulatory requirements.

Visit your IRI account to manage committee and working group participation.

IRI Legislative and Regulatory Affairs Committees

Advocacy Steering Committee

The Advocacy Steering Committee is responsible for setting IRI’s advocacy and compliance priorities and positions, and for overseeing IRI’s efforts with respect to the adoption and implementation of federal and state laws and rules on an ongoing basis. The Committee also provides input to IRI’s advocacy and compliance committees and working groups on the strategies and tactics employed to advance IRI’s policy positions and achieve IRI’s compliance objectives.

Meeting Schedule: Monthly calls, with extended calls every three months, including at least one in-person meeting every year

Criteria: Invitation only. All IRI Insurer, Distributor, Asset Manager, IMO, and Partner-tier Law Firm member companies are eligible to serve as voting members, and Counsel-tier Law Firm members are eligible to serve as non-voting members. Eligible companies may appoint one primary member and one alternate member, each of whom must be a senior-level legal, compliance, and/or government affairs professional who is authorized to speak on behalf of their organization with respect to legislative and regulatory matters at the federal and state levels.

IRI Staff Liaisons: Jason Berkowitz, Paul Richman

Compliance and Implementation Committee

The Compliance and Implementation Committee focuses on issues, challenges, and opportunities related to compliance with and implementation of state and federal rules and regulations. This Committee provides a forum for IRI members to work through complex requirements and to discuss best practices and experiences related to compliance and implementation. This Committee also discusses opportunities to enhance rules and regulations and provides feedback to other IRI committees to help guide current and future advocacy efforts.

Meeting Schedule: Monthly calls

Criteria: Open to all IRI member company representatives, but most appropriate for compliance and legal professionals.

IRI Staff Liaison: Rebecca Plowman

Government Affairs Committee

The Government Affairs Committee provides a forum for IRI members to share information about policies, laws, and regulations produced by Congress, the White House, and federal agencies that may affect IRI membership. The Committee is charged with assessing critical issues; evaluating and monitoring legislation and regulatory or potential regulatory issues; and developing consensus policy positions to guide IRI’s advocacy efforts, including promulgating IRI’s annual Federal Retirement Security Blueprint. The Committee also assists IRI staff in building bipartisan relationships with lawmakers and administration officials to whom IRI advocates for the enactment and adoption of policy positions and proposals.

Meeting Schedule: Monthly calls

Criteria: Open for sign-up to representatives from member companies who engage in government affairs for their companies.

IRI Staff Liaisons: John Jennings, Paul Richman

Retirement Plans and Tax Committee

The Retirement Plans and Tax Committee is responsible for all legislative and regulatory activity arising under or relating to the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code, including, but not limited to, rulemaking by the U.S. Department of Labor, the U.S. Department of the Treasury, and the U.S. Internal Revenue Service. The Committee assists IRI in developing policy positions and advocacy strategies on priority issues including drafting comment letters and testimony.

Meeting Schedule: Monthly calls

Criteria: Open to all IRI member company representatives, but most appropriate for legal, compliance, and government affairs professionals focused on defined contribution plans and individual retirement accounts.

IRI Staff Liaison: Emily Micale

Securities Committee

The Securities Committee is responsible for all legislative and regulatory activity arising under, or relating to, federal or state securities law, including, but not limited to, rulemaking by the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the North American Securities Administrators Association (NASAA), and individual state securities agencies. The Committee assists IRI in developing policy positions and advocacy strategies on priority issues including drafting comment letters and testimony.

Meeting Schedule: Monthly calls

Criteria: Open to all IRI member company representatives, but most appropriate for legal, compliance, and government affairs professionals focused on manufacturing and distribution of securities products.

IRI Staff Liaison: Emily Micale

State Affairs Committee

State Affairs Committee

The State Affairs Committee is responsible for state activity that would impact the sale of retirement income products proposed by the National Association of Insurance Commissioners (NAIC), National Conference of State Legislatures (NCSL), National Conference of Insurance Legislatures (NCOIL), North American Securities Administrators Association (NASAA), and state legislative and regulatory bodies. The Committee assists IRI in developing policy positions and advocacy strategies on priority issues including drafting comment letters and testimony.

Meeting Schedule: Monthly calls

Criteria: Open to all IRI member company representatives, but most appropriate for legal, compliance, and government affairs professionals focused on manufacturing and distribution of insurance products.

IRI Staff Liaison: Sarah Wood

Legislative and Regulatory Affairs Working Groups

DOL Standard of Care Implementation Working Group

The DOL Standard of Conduct Implementation Working Group is responsible for leading, developing, and providing feedback on IRI’s compliance and implementation efforts related to the DOL’s standard of conduct rules. This Working Group is leading IRI’s DOL Fiduciary Rule Implementation Program and various workstreams focused on the 2024 Retirement Security Rule, which includes changes to the definition of an investment advice fiduciary, PTE 2020-02, and PTE 84-24.

Meeting Schedule: Weekly calls

Criteria: Open to all IRI member company representatives, but most appropriate for legal, compliance, government affairs, and operations and technology professionals who are involved in compliance with and implementation of the DOL’s standard of conduct rules.

IRI Staff Liaisons: Jason Berkowitz, Rebecca Plowman

Consumer Protection Working Group

The Consumer Protection Working Group provides guidance on federal and state legislative and regulatory actions on cybersecurity and data privacy as well as initiatives aimed at safeguarding retirement savers from other illicit activities, including fraud, exploitation, and financial abuse. The Working Group is responsible for developing consensus positions and engagement strategies to help ensure policymakers approach this rapidly evolving policy area with workable solutions that continue to provide the protections consumers need.

Meeting Schedule: As needed

Criteria: Open to all IRI member company representatives, but most appropriate for legal, compliance, and government affairs professionals who are involved in federal or state consumer protection issues.

IRI Staff Liaisons: John Jennings, Sarah Wood

e-Commerce Issues Working Group

The e-Commerce Issues Working Group guides IRI’s engagement with the NAIC and state and federal regulators on issues pertaining to the regulation of e-commerce, including potential modifications to the Uniform Electronic Transactions Act (UETA), e-Delivery, and other e-Commerce laws and regulations, as well as potential regulatory guidance related thereto. The Working Group also provides a forum for IRI members to discuss the use of emerging technologies in the annuity industry.

Meeting Schedule: Monthly calls

Criteria: Open to all IRI member company representatives, but most appropriate for legal, compliance, and government affairs professionals who are involved in federal or state e-Commerce issues.

IRI Staff Liaisons: Emily Micale, Sarah Wood

ESG Issues Working Group

IRI’s ESG Issues Working Group is charged with identifying, addressing, and responding to any proposed environmental, social, or governance (ESG) investment-related legislation, regulation, or guidance at the federal and state levels of government. The Working Group is responsible for developing advocacy strategies to ensure IRI’s perspectives are effectively communicated to legislators and other policymakers. The Working Group's scope includes proposals and guidance related to climate-based financial risk and other climate change financial issues.

Meeting Schedule: As needed

Criteria: Open to all IRI member company representatives, but most appropriate for legal, compliance, and government affairs professionals who are involved in federal or state ESG issues.

IRI Staff Liaisons: John Jennings, Emily Micale

Grassroots Advocacy Working Group

The Grassroots Advocacy Working Group provides IRI members with a forum for sharing information and developing coordinated efforts relating to grassroots advocacy campaigns before Congress, the Executive Branch, and the states. The Working Group also drives grassroots efforts undertaken by IRI and provides IRI members with guidance on best practices and campaign construction.

Meeting Schedule: As needed

Criteria: Open to IRI member company representatives who are involved in coordinating their company's participation in federal and state grassroots campaigns.

IRI Staff Liaison: John Jennings

Replacements Issues Working Group

The Replacements Issues Working Group is charged with making recommendations and advising on strategy relating to annuity replacements, including whether, when, and how IRI should pursue guidance and/or revisions with respect to the NAIC Life Insurance and Annuities Replacement Model Regulation (MDL #613).

Meeting Schedule: As needed

Criteria: Open to all IRI member company representatives, but most appropriate for legal, compliance, and government affairs professionals who are involved in implementation of regulations governing annuity replacement transactions.

IRI Staff LiaisonSarah Wood

RILA Issues Working Group

The RILA Issues Working Group guides IRI’s engagement on advocacy to develop both state and federal rules to aid in the sale and distribution of registered index-linked annuities (RILAs). On the state level, this includes engagement with the Interstate Insurance Product Regulation Commission, which is working on the development of its uniform product filing standards for RILAs, and the NAIC’s Index-Linked Variable Annuity (A) Subgroup’s work relating to interim value requirements. On the federal level, IRI continues to engage with the Securities and Exchange Commission (SEC) and Congress pursuing rulemaking or statute for development of a RILA-specific registration form to provide investors with the most accurate information on the risks and benefits of this innovative product.

Meeting Schedule: Monthly calls

Criteria: Open to all IRI member company representatives, but most appropriate for legal, compliance, and government affairs professionals who are involved in federal or state issues relating to the manufacturing and distribution of RILAs.

IRI Staff Liaisons: Emily Micale, Sarah Wood

SECURE 2.0 Implementation Working Group

The SECURE 2.0 Implementation Working Group focuses on issues, challenges, and opportunities related to implementation of the SECURE 2.0 Act of 2022 (“SECURE 2.0”) signed into law on December 29, 2022. Members are encouraged to submit questions and discussion topics regarding any aspect of SECURE 2.0 for discussion with the Working Group.

Meeting Schedule: Bi-monthly calls

Criteria: Open to all IRI member company representatives, but most appropriate for legal, compliance, and government affairs professionals who are involved in implementation of the provisions of SECURE 2.0 or other federal retirement reforms.

IRI Staff Liaisons: Emily Micale, Rebecca Plowman

Standard of Conduct Working Group

The Standard of Conduct Working Group is responsible for all federal and state activity (legislative, regulatory, and judicial) relating to the standard of conduct applicable to financial professionals who provide advice or recommendations to retail consumers. During regular Working Group calls, IRI staff provides updates on new developments, seeks feedback from members, and facilitates dialogue amongst members on pending proposals.

Meeting Schedule: Monthly calls

Criteria: Open to all IRI member company representatives, but most appropriate for legal, compliance, and government affairs professionals who are involved in the implementation of any changes to the standards of conduct applicable to financial professionals.

IRI Staff Liaisons: Jason Berkowitz, Emily Micale, Rebecca Plowman, Sarah Wood