SHARMILA SWENSON

Outreach related to congressional consideration of tax reform legislation, specifically, HR 1 (One Big Beautiful Bill Act) and HR2547 (Secure Family Futures Act). The One Big Beautiful Bill Act reduces taxes, reduces or increases spending for various federal programs, increases the statutory debt limit, and otherwise addresses agencies and programs throughout the federal government. The introduction of the Secure Family Futures Act pertains to ordinary income treatment and incentives to support economic activity.

One Big Beautiful Bill Act (H.R. 1, Representative Arrington), lobbied in support of 2025 tax reform.

Outreach related to congressional consideration of tax reform legislation, specifically, HR 1 (One Big Beautiful Bill Act) and HR2547 (Secure Family Futures Act). The One Big Beautiful Bill Act reduces taxes, reduces or increases spending for various federal programs, increases the statutory debt limit, and otherwise addresses agencies and programs throughout the federal government. The introduction of the Secure Family Futures Act pertains to ordinary income treatment and incentives to support economic activity.

Outreach related to congressional consideration of tax reform legislation, specifically, HR 1 (One Big Beautiful Bill Act) and HR2547 (Secure Family Futures Act). The One Big Beautiful Bill Act reduces taxes, reduces or increases spending for various federal programs, increases the statutory debt limit, and otherwise addresses agencies and programs throughout the federal government. The introduction of the Secure Family Futures Act pertains to ordinary income treatment and incentives to support economic activity.

INVEST ACT (HR 3383, Representative Wagner), lobbied in support of The Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013, Representative Lucas), which allows 403(b) plan participants access to the same investment options available to other employer sponsored retirement plan participants better serving teachers, hospital workers, clergy, and nonprofits; also lobbied in support of The Improving Disclosure for Investors Act (H.R. 2441, Representative Huizenga), which directs the SEC to issue a rule permitting e-delivery and access to documents, while also preserving individual investors to receive information by paper if preferred. Automatic IRA Act of 2025 (H.R. 6722, Representative Neal), lobbied in support of increasing American's access to financial security in retirement.

INVEST ACT (HR 3383, Representative Wagner), lobbied in support of The Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013, Representative Lucas), which allows 403(b) plan participants access to the same investment options available to other employer sponsored retirement plan participants better serving teachers, hospital workers, clergy, and nonprofits; also lobbied in support of The Improving Disclosure for Investors Act (H.R. 2441, Representative Huizenga), which directs the SEC to issue a rule permitting e-delivery and access to documents, while also preserving individual investors to receive information by paper if preferred. Automatic IRA Act of 2025 (H.R. 6722, Representative Neal), lobbied in support of increasing American's access to financial security in retirement.

Outreach related to congressional consideration of tax reform legislation, specifically, HR 1 (One Big Beautiful Bill Act) and HR2547 (Secure Family Futures Act). The One Big Beautiful Bill Act reduces taxes, reduces or increases spending for various federal programs, increases the statutory debt limit, and otherwise addresses agencies and programs throughout the federal government. The introduction of the Secure Family Futures Act pertains to ordinary income treatment and incentives to support economic activity.

Outreach related to congressional consideration of tax reform legislation, specifically, HR 1 (One Big Beautiful Bill Act) and HR2547 (Secure Family Futures Act). The One Big Beautiful Bill Act reduces taxes, reduces or increases spending for various federal programs, increases the statutory debt limit, and otherwise addresses agencies and programs throughout the federal government. The introduction of the Secure Family Futures Act pertains to ordinary income treatment and incentives to support economic activity.

Outreach related to congressional consideration of tax reform legislation, specifically, HR 1 (One Big Beautiful Bill Act) and HR2547 (Secure Family Futures Act). The One Big Beautiful Bill Act reduces taxes, reduces or increases spending for various federal programs, increases the statutory debt limit, and otherwise addresses agencies and programs throughout the federal government. The introduction of the Secure Family Futures Act pertains to ordinary income treatment and incentives to support economic activity.

The Secure Family Futures Act (HR 2547, Representative Feenstra), lobbied in support of providing ordinary tax treatment for life insurance investments and strengthening financial returns for Americans.

INVEST ACT (HR 3383, Representative Wagner), lobbied in support of The Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013, Representative Lucas), which allows 403(b) plan participants access to the same investment options available to other employer sponsored retirement plan participants better serving teachers, hospital workers, clergy, and nonprofits; also lobbied in support of The Improving Disclosure for Investors Act (H.R. 2441, Representative Huizenga), which directs the SEC to issue a rule permitting e-delivery and access to documents, while also preserving individual investors to receive information by paper if preferred. Automatic IRA Act of 2025 (H.R. 6722, Representative Neal), lobbied in support of increasing American's access to financial security in retirement.

INVEST ACT (HR 3383, Representative Wagner), lobbied in support of The Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013, Representative Lucas), which allows 403(b) plan participants access to the same investment options available to other employer sponsored retirement plan participants better serving teachers, hospital workers, clergy, and nonprofits; also lobbied in support of The Improving Disclosure for Investors Act (H.R. 2441, Representative Huizenga), which directs the SEC to issue a rule permitting e-delivery and access to documents, while also preserving individual investors to receive information by paper if preferred. Automatic IRA Act of 2025 (H.R. 6722, Representative Neal), lobbied in support of increasing American's access to financial security in retirement.

H.J.Res. 142 (Congressional Review Act). Outreach on the proposed vote on the Congressional Review Act resolution to disapprove the US Department of Labor Fiduciary Rule; urging Congress to review and then disapprove of the rule. Judicial Stay of Effective Rule date. Outreach on the decision to issue a stay halting the DOL Fiduciary Rule by the US District Court for the Northern District of Texas.

Jobs Act S.161 and Workforce Pell H.R.793. Support for establishing Pell Grant eligibility for short-term programs. Increase Pell maximum award amount in FY budget requests. SNAP E&T Enlacement Act H.R.5362. Support for streamlining applications and increasing SNAP benefit access by college students via the Farm Bill.

Jobs Act S.161 and Workforce Pell H.R.793. Support for establishing Pell Grant eligibility for short-term programs. Increase Pell maximum award amount in FY budget requests. SNAP E&T Enlacement Act H.R.5362. Support for streamlining applications and increasing SNAP benefit access by college students via the Farm Bill.

Jobs Act S.161 and Workforce Pell H.R.793. Support for establishing Pell Grant eligibility for short-term programs. Increase Pell maximum award amount in FY budget requests. SNAP E&T Enlacement Act H.R.5362. Support for streamlining applications and increasing SNAP benefit access by college students via the Farm Bill.

Consolidated Appropriations Act of 2023: H.R.2617, the Consolidated Appropriations Act, 2023 (Rep. Connolly-VA 11); provides appropriations to federal agencies for the remainder of Fiscal Year 2023, including SECURE 2.0.

H.R. 513, Foreign Adversary Risk Management Act (FARM Bill) [Rep. Ronny Jackson (R-TX)]. Specifically, engaged members on provisions that provide SNAP and food programs for college students.

H.R. 2617, Consolidated Appropriations Act, 2023 [Rep. Gerald Connolly (D-VA)]. Specifically, thanking MoC for their support of the bill and two provisions that were included; SECURE 2.0 (enhancing retirement options and access for more workers), and RILA (directing the SEC to devise a new form for annuity issuers to use when filing registered index-linked annuities).

Paid Family Medical Leave: HR.2589 sponsored by C. Maloney (NY) and S.1185 sponsored by R. Durbin (IL). Highlighted industry's engagement in the conversation and reiterated our interest in support of the continued preservation of a private option.

HR.2954 "SECURE 2.0" sponsored by R. Neal (MA). The bill makes various changes with respect to retirement and employer-sponsored retirement plans. Fiduciary Rule: Outreach focused on general education around the Best Interest and Fiduciary Rule, as well as concerns and impact on access by communities of color. This issue is not specific to a bill. Registered Indexed Linked Annuities: H.R. 4865 sponsored by A. Adams (D-NC) and S. 3198, the Registration for Index Linked Annuities, sponsored by T. Smith (D-MX). Update and education around the impact and need for a RILA-specific form from the SEC.

SECURE 2.0 Retirement Package consisting of: (i) H.R. 2954 (the Securing a Strong Retirement Act (SECURE 2.0)(Rep. Richard Neal, D-MA); (ii) S. 4808 (the Enhancing American Retirement Now (EARN) Act (Sen. Ron Wyden, D-OR); and (iii) S. 4353 (the Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act (Sen. Patty Murray, D-WA) in each case addressing the importance of addressing gaps and barriers to retirement saving. H.R. 4865/S. 3198, the Registration for Index Linked Annuities Act (Rep. Alma Adams, D-NC, Sen. Tina Smith, D-MN) addressing that Congress should enact legislation directing the SEC to remove a barrier inhibiting the use of an innovative retirement income product by developing a new registration form better suited for insurance products, rather than the current form for corporate stock offerings. U.S. Department of Labor fiduciary regulation. Outreach focused on general education and the Best Interest and Fiduciary Rule, as well as concerns and impacts on access by communities of color.

H.R. 2954, the Securing a Strong Retirement Act (SECURE 2.0) [Rep. Richard Neal (D-MA)] - Specifically about the importance of addressing gaps and barriers to retirement saving such as by allowing student loan borrowers to redirect 401(k) contributions to their loan repayment, while still receiving an employer match in their retirement plan; increasing the required minimum distribution (RMD) age to 75; removing the penalty for victims of domestic violence to withdraw early from their retirement accounts and; offering incentives to small business to start retirement accounts for their employees.

HR.2954 "SECURE 2.0" sponsored by Richard Neal (MA-1), and "Earn Enhancing American Retirement Now," which is in committee, but doesn't have a bill number yet, makes various changes with respect to retirement and employer-sponsored retirement plans. S.1770 the Retirement Security and Savings Act of 2021 sponsored by Benjamin Cardin (MA) modifies various tax policies, credits, and requirements that apply to employer-provided retirement plans and Individual Retirement Accounts.

HR.2954 "SECURE 2.0" sponsored by R. Neal (MA). The bill makes various changes with respect to retirement and employer-sponsored retirement plans. Fiduciary Rule: Outreach focused on general education around the Best Interest and Fiduciary Rule, as well as concerns and impact on access by communities of color. This issue is not specific to a bill. Registered Indexed Linked Annuities: H.R. 4865 sponsored by A. Adams (D-NC) and S. 3198, the Registration for Index Linked Annuities, sponsored by T. Smith (D-MX). Update and education around the impact and need for a RILA-specific form from the SEC.

SECURE 2.0 Retirement Package consisting of: (i) H.R. 2954 (the Securing a Strong Retirement Act (SECURE 2.0)(Rep. Richard Neal, D-MA); (ii) S. 4808 (the Enhancing American Retirement Now (EARN) Act (Sen. Ron Wyden, D-OR); and (iii) S. 4353 (the Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act (Sen. Patty Murray, D-WA) in each case addressing the importance of addressing gaps and barriers to retirement saving. H.R. 4865/S. 3198, the Registration for Index Linked Annuities Act (Rep. Alma Adams, D-NC, Sen. Tina Smith, D-MN) addressing that Congress should enact legislation directing the SEC to remove a barrier inhibiting the use of an innovative retirement income product by developing a new registration form better suited for insurance products, rather than the current form for corporate stock offerings. U.S. Department of Labor fiduciary regulation. Outreach focused on general education and the Best Interest and Fiduciary Rule, as well as concerns and impacts on access by communities of color.

HR.5 the "Equality Act" sponsored by David Cicilline (RI-1) prohibits discrimination based on sex, sexual orientation, and gender identity in areas including public accommodations and facilities, education, federal funding, employment, housing, credit, and the jury system. Specifically, the bill defines and includes sex, sexual orientation, and gender identity among the prohibited categories of discrimination or segregation.

H.R. 5376, the Build Back Better Act [Rep. John Yarmuth (D-KY)] - Specifically with respect to Paid Family Medical Leave (PFML) in support of efforts to expand much-needed access to paid leave, while also working to find a long-term solution that maintains the existing private support programs and tax stabilization in support of language bringing the life insurance industry pay-fors into alignment with any increase adjustment to the corporate tax rate be incorporated into any final package. U.S. Department of Labor fiduciary regulation - Specifically that a wholesale reenactment of the 2016 rule would be detrimental to the people it is meant to help the most, and that the Securities and Exchange Commissions (SEC) Regulation Best Interest (Reg BI) rule and the DOLs proposed impartial conduct standard will provide guidance for those advisers already held to their clients best interest standards.

Paid Family Medical Leave: HR.2589 sponsored by C. Maloney (NY) and S.1185 sponsored by R. Durbin (IL). Highlighted industry's engagement in the conversation and reiterated our interest in support of the continued preservation of a private option.

HR.2954 "SECURE 2.0" sponsored by Richard Neal (MA-1), and "Earn Enhancing American Retirement Now," which is in committee, but doesn't have a bill number yet, makes various changes with respect to retirement and employer-sponsored retirement plans. S.1770 the Retirement Security and Savings Act of 2021 sponsored by Benjamin Cardin (MA) modifies various tax policies, credits, and requirements that apply to employer-provided retirement plans and Individual Retirement Accounts.

HR.2954 "SECURE 2.0" sponsored by R. Neal (MA). The bill makes various changes with respect to retirement and employer-sponsored retirement plans. Fiduciary Rule: Outreach focused on general education around the Best Interest and Fiduciary Rule, as well as concerns and impact on access by communities of color. This issue is not specific to a bill. Registered Indexed Linked Annuities: H.R. 4865 sponsored by A. Adams (D-NC) and S. 3198, the Registration for Index Linked Annuities, sponsored by T. Smith (D-MX). Update and education around the impact and need for a RILA-specific form from the SEC.

SECURE 2.0 Retirement Package consisting of: (i) H.R. 2954 (the Securing a Strong Retirement Act (SECURE 2.0)(Rep. Richard Neal, D-MA); (ii) S. 4808 (the Enhancing American Retirement Now (EARN) Act (Sen. Ron Wyden, D-OR); and (iii) S. 4353 (the Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act (Sen. Patty Murray, D-WA) in each case addressing the importance of addressing gaps and barriers to retirement saving. H.R. 4865/S. 3198, the Registration for Index Linked Annuities Act (Rep. Alma Adams, D-NC, Sen. Tina Smith, D-MN) addressing that Congress should enact legislation directing the SEC to remove a barrier inhibiting the use of an innovative retirement income product by developing a new registration form better suited for insurance products, rather than the current form for corporate stock offerings. U.S. Department of Labor fiduciary regulation. Outreach focused on general education and the Best Interest and Fiduciary Rule, as well as concerns and impacts on access by communities of color.

SECURE 2.0 Retirement Package consisting of: (i) H.R. 2954 (the Securing a Strong Retirement Act (SECURE 2.0)(Rep. Richard Neal, D-MA); (ii) S. 4808 (the Enhancing American Retirement Now (EARN) Act (Sen. Ron Wyden, D-OR); and (iii) S. 4353 (the Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act (Sen. Patty Murray, D-WA) in each case addressing the importance of addressing gaps and barriers to retirement saving. H.R. 4865/S. 3198, the Registration for Index Linked Annuities Act (Rep. Alma Adams, D-NC, Sen. Tina Smith, D-MN) addressing that Congress should enact legislation directing the SEC to remove a barrier inhibiting the use of an innovative retirement income product by developing a new registration form better suited for insurance products, rather than the current form for corporate stock offerings. U.S. Department of Labor fiduciary regulation. Outreach focused on general education and the Best Interest and Fiduciary Rule, as well as concerns and impacts on access by communities of color.

SECURE 2.0 Retirement Package consisting of: (i) H.R. 2954 (the Securing a Strong Retirement Act (SECURE 2.0)(Rep. Richard Neal, D-MA); (ii) S. 4808 (the Enhancing American Retirement Now (EARN) Act (Sen. Ron Wyden, D-OR); and (iii) S. 4353 (the Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act (Sen. Patty Murray, D-WA) in each case addressing the importance of addressing gaps and barriers to retirement saving. H.R. 4865/S. 3198, the Registration for Index Linked Annuities Act (Rep. Alma Adams, D-NC, Sen. Tina Smith, D-MN) addressing that Congress should enact legislation directing the SEC to remove a barrier inhibiting the use of an innovative retirement income product by developing a new registration form better suited for insurance products, rather than the current form for corporate stock offerings. U.S. Department of Labor fiduciary regulation. Outreach focused on general education and the Best Interest and Fiduciary Rule, as well as concerns and impacts on access by communities of color.

H.R. 5376, the Build Back Better Act: Paid Family Medical Leave (PFML) support for efforts to expand much needed access to paid leave, while also working to find a long-term solution that maintains the existing private support programs. DOL Fiduciary Rule (no bill attached): Request for update on Administration plans and communication on the potential impacts of restoring the vacated rule particularly on underserved communities.

H.R. 5376, the Build Back Better Act [Rep. John Yarmuth (D-KY)] Within the Build Back Better Act, the specific lobbying issue was with respect to Tax Stabilization to address some technical corrections that would ensure that an increase in the corporate tax rate does not have a disproportionately negative impact on life insurance companies and the consumers who rely on them for financial protection and security.

H.R. 5376, the Build Back Better Act [Rep. John Yarmuth (D-KY)] Within the Build Back Better Act, the specific lobbying issue was with respect to Paid Family Medical Leave (PFML) and support for efforts to expand much-needed access to paid leave, while also working to find a long-term solution that maintains the existing private support programs utilized by millions of American workers including employer-provided disability insurance. This lobbying effort is in support of building upon existing disability insurance and PFML framework, while also implementing supports for employers as they stand up these new and important benefits for their employees.

H.R. 5376, the Build Back Better Act: Paid Family Medical Leave (PFML) support for efforts to expand much needed access to paid leave, while also working to find a long-term solution that maintains the existing private support programs.