Washington, D.C. – April 12, 2013 -
The Insured Retirement Institute (IRI) today released the following statement from IRI President and CEO Cathy Weatherford after Mary Jo White was sworn in as the next Chair of the Securities and Exchange Commission (SEC) earlier today:
“On behalf of the members of IRI, we congratulate Mary Jo White—now Chairman White—and we are eager to work with her on a number of initiatives to help consumers receive simple and easy-to-understand information regarding their retirement savings options. One such effort that is ready for completion is the development of a summary prospectus for variable annuity products. After first being publicly supported by former Chairman Mary Schapiro in late 2009, we believe that all the work necessary has been completed to move forward a proposed rule for a variable annuity summary prospectus, and IRI’s research shows that there is overwhelming public support for doing so. We are hopeful to work with Chairman White and her staff to move this project forward within the next few months so consumers can access a shorter paper summary prospectus that will help facilitate more informed decision making regarding retirement savings products.”About the Insured Retirement Institute:
The Insured Retirement Institute (IRI) is a not-for-profit organization that for twenty years has been a mainstay of service, commitment and collaboration within the insured retirement industry. Today, IRI is considered to be the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. IRI proudly leads a national consumer education coalition of nearly twenty organizations and is the only association that represents the entire supply chain of insured retirement strategies: Our members are the major insurers, asset managers, broker-dealers/distributors, and 150,000 financial professionals. 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 advocate before public policy makers on critical issues affecting insured retirement strategies and the consumers that rely on their guarantees. Visit www.IRIonline.org
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