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CONGRESSIONAL RECORD—SENATE, Vol. 159, Pt. 8 July 11, 2013

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CONGRESSIONAL RECORD—SENATE, Vol. 159, Pt. 8 July 11, 2013 11302 CONGRESSIONAL RECORD—SENATE, Vol. 159, Pt. 8 July 11, 2013 greater retirement savings opportunities for ments like yours so that America’s workers ator from Illinois, Mr. KIRK, in submit- American workers. With very best regards. can look forward to the retirement of their ting a resolution celebrating the 50th Sincerely, dreams with a guaranteed and steady in- anniversary of Loyola University of PAUL SCHOTT STEVENS, come. Chicago’s historic season as National President & CEO. Providing state and local governments a 1 See Investment Company Institute, ‘‘The fixed annuity option issued by an insurance Collegiate Athletics Association men’s U.S. Retirement Market, First Quarter 2013’’ company not only guarantees lifetime in- basketball champions. The season is (June 2013), available at www.ici.org/info/ come, but the industry’s record of strength also remembered for the historic retl13lq1ldata.xls. and solvency also insures that pensions are matchup with Mississippi State Uni- 2 See Holden and Schrass, ‘‘The Role of protected from market crises and cannot be versity in the NCAA Tournament, IRAs in U.S. Households’ Saving for Retire- underfunded. In addition, the effective and which helped end racial segregation in ment, 2012,’’ ICI Research Pespective 18, no 8 vigorous regulation of the annuity industry college athletics. (December 2012), Figure 1, p. 3, available at by the state insurance departments has been The Mississippi State and Loyola www.ici.org/pdf/per18-08.pdf. demonstrated day after day and year after 3 See Brady, Burham, and Holden, The Suc- year by high consumer satisfaction and the teams, along with their coaches and cess of the U.S. Retirement System, Invest- ever increasing purchase of fixed annuities. school administrators, led with cour- ment Company Institute (December 2012), pp. The fixed annuity industry already secures age and sportsmanship and a love of 10–14, available at www.ici.org/pdf/ the future for millions of American’s and the game of basketball. That contest a pprl12lsuccesslretirement.pdf. continues to be one of the most reliable and half century ago helped to move my steady financial services sector throughout State and our Nation forward in ad- METLIFE, this country’s history. dressing the inequalities of our society. Washington, DC, July 8, 2013. NAFA looks forward to continue working I appreciate the legacy and inspiring Hon. ORRIN HATCH, with your office as the bill progresses. NAFA example of these teams, and am U.S. Senate, members represent over 84% of the fixed an- Washington, DC. nuities sold through independent distribu- pleased to cosponsor the resolution in- DEAR SENATOR HATCH: MetLife applauds tion and its Board of Directors is pleased to troduced today by Senators KIRK, DUR- your introduction of the Secure Annuities support retirement income security for all BIN, and WICKER. for Employee (SAFE) Retirement Act of 2013. Americans. I ask unanimous consent to have In introducing this bill, you have highlighted Sincerely, printed in the RECORD a copy of the the importance of guaranteed income KIM O’BRIEN, Clarion Ledger newspaper article from throughout retirement for millions of Amer- President & CEO. March 18, 2013, titled, ‘‘As March Mad- icans. We agree this is of critical impor- ness nears, so does 50th anniversary of tance. NATIONAL ASSOCIATION OF MSU’s ‘Game of Change’.’’ The SAFER Pension Act also serves to in- INSURANCE AND FINANCIAL ADVISORS, crease attention to a number of key chal- Falls Church, VA, July 2, 2013. AS MARCH MADNESS NEARS, SO DOES 50TH lenges, including the importance of stable Re SAFER Pension Act of 2013. ANNIVERSARY OF MSU’S ‘‘GAME OF CHANGE’’ pension benefit funding, the importance of Hon. ORRIN HATCH, (By Jerry Mitchell) lifetime income to retirement security, and Hart Office Building, Loyola captain Jerry Harkness shakes the importance of regulatory simplification Washington, DC. hands with MSU captain Joe Dan Gold before for plan sponsors, all of which strengthen the DEAR SENATOR HATCH: The National Asso- the historic 1963 game. foundation of our overall retirement system. ciation of Insurance and Financial Advisors As March Madness nears, so does the 50th For many Americans, worries about their (NAIFA) applauds your continued leadership anniversary of the ‘‘Game of Change,’’ where financial future are intensified by weakening to encourage retirement savings. We look the all-white Mississippi State University employer-based and public safety nets—and forward to working with you on the ‘‘Secure basketball team dodged a judge’s injunction by inadequate levels of personal savings and Annuities for Employee Retirement Pension and the governor’s wrath to play the inte- retirement income protection. MetLife be- Act of 2013’’ and other initiatives to improve grated Loyola University of Chicago. lieves that policymakers, insurers and em- the savings programs available, for both pub- Those across the nation know more about ployers all play an important role in revital- lic and private employee participants. Texas Western’s 1966 defeat of Kentucky, be- izing and establishing programs that can Founded in 1890 as The National Associa- coming the first champion with five African- provide certainty in today’s uncertain world. tion of Life Underwriters (NALU), NAIFA is American starters (depicted in the 2006 film, In 1921, MetLife became the first life insur- one of the nation’s oldest and largest asso- Glory Road). ance company to develop and offer a group ciations representing the interests of insur- While that game, once and for all, settled annuity contract to fund defined benefit ance professionals from every Congressional the question of race on the court, MSU’s plans and provide guaranteed income to em- district in the United States. NAIFA and its game against Loyola also played a critical ployees at retirement. We have continued members recognize the importance of indi- role. The blog, The ’60s at 50, quotes from the this tradition of innovation more recently viduals and families planning and saving for March 25 edition of Sports Illustrated: with group annuity contracts designed to retirement and the significance of employer ‘‘Literally out of hiding to play Loyola the provide guaranteed income for defined con- sponsored plans as a necessary component of night before had come Mississippi State, the tribution plans. We appreciate that the that planning, along with life insurance and team that saddened the hearts of seg- SAFER Pension Act has helped to highlight annuity products. We also are supportive of regationists everywhere by agreeing—ea- the positive role annuities can play, and look efforts to assure that middle market inves- gerly—to participate in a tournament open forward to working together in this retire- tors continue to have access to professional to Negroes. On the eve of his team’s depar- ment security reform effort. services and advice and they have a choice of ture from Starkville, Coach Babe McCarthy Sincerely, financial products that will meet their finan- got word that a sheriff was out with a court PETER R. PASTRE, cial needs and objectives. order that could keep the team in Mis- Vice President. NAIFA looks forward to maintaining a sissippi. Like Little Eva skipping across the continued dialogue with you, and members ice ahead of the bloodhounds, McCarthy NATIONAL ASSOCIATION of Congress on both sides of the aisle, to as- skipped into Tennessee. University President FOR FIXED ANNUITIES, sure employees, employers, and our members Dr. D.W. Colvard vanished, too. Early Thurs- Milwaukee, WI, July 5, 2013. who provide services to them can effectively day morning an assistant coach verified that Re Secure Annuities for Employee (SAFE) and affordably save for their retirement the coast was clear at the airport, hustled Retirement Act of 2013. needs. the team into a plane and away it flew on a Senator ORRIN HATCH, Thank you again for your leadership. modern underground railroad in reverse.’’ Hart Office Building, Sincerely, McCarthy had faced a series of frustrations Washington, DC. ROBERT O. SMITH, J.D., as MSU’s basketball coach. His teams had DEAR SENATOR: NAFA, the National Asso- CLU, CHFC, LIC, dominated nationally, winning the SEC ciation for Fixed Annuities, applauds your President. championship in 1959, 1961 and 1962—only to efforts to provide a safe and reliable pension watch Kentucky represent the league in the plan for employees and supports the goals of f postseason because Mississippi authorities the ‘‘Secure Annuities for Employee (SAFE) 50TH ANNIVERSARY OF THE prevented them from playing any integrated Retirement Act of 2013.’’ Thank you, too, for ‘‘GAME OF CHANGE’’ teams. recognizing the valuable role fixed annuities Former Clarion-Ledger sportswriter Kyle play to insure retirement. Our nation’s re- Mr. COCHRAN. Mr. President, I am Veazey (currently with The Commercial Ap- tirement security depends upon commit- pleased to join the distinguished Sen- peal) has penned a new book on the subject, VerDate Sep 11 2014 10:59 Dec 27, 2017 Jkt 029102 PO 00000 Frm 00041 Fmt 0686 Sfmt 0634 E:\BR13\S11JY3.001 S11JY3 nshattuck on DSKBBV9HB2PROD with BOUND RECORD July 11, 2013 CONGRESSIONAL RECORD—SENATE, Vol. 159, Pt. 8 11303 Champions for Change: How the Mississippi touched every member of that close- 1973, and has served as a leader at the State Bulldogs and Their Bold Coach Defied knit community. My heart goes out to local, State, regional, and national lev- Segregation. the family and friends of the victims of els. Mrs. McIntyre has an impressive He was stunned to find out no one had this tragedy, and my thoughts and written the story and decided to write it professional resume that includes di- himself. prayers are with the residents of Lac- rector of Human Resources for the Jef- When the question of playing an integrated Megantic during this time of mourn- ferson Parish Public School System in team arose in 1959, MSU’s president at the ing.
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