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
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 Liaison: Sarah 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