Sen. Johnny Isakson (R-GA) and Rep. John Larson (D-CT) were presented with the 2017 Financial Security & Life Insurance Caucus Freedom & Dignity Awards by the American Council of Life Insurers (ACLI) last week.
Isakson co-chairs the Senate Financial Security & Life Insurance Caucus, while Larson is a member of the House caucus and is a former insurance agent. Founded in 2015, the House and Senate caucus is dedicated to raising awareness of the need for public policies that promote lifetime financial security. The caucus comprises 111 members of Congress.
“Senator Isakson and Representative Larson understand the importance of planning financially for the long term,” Dirk Kempthorne, president and CEO of the ACLI, said. “Their leadership and dedication to public policies that help individuals and families maintain financial independence throughout their lives have earned them the Financial Security & Life Insurance Caucus Freedom & Dignity Awards.”
Isakson has long been an advocate for helping Americans save for their own retirement.
“The recent swings in our economy are a reminder of how important this is for American families,” Isakson said. “Congress has a responsibility to ensure that accessibility to retirement options and incentives are in place to protect the American dream. I look forward to continuing to work with leaders like my friend Representative John Larson on these important issues. It is critical that we find bipartisan solutions that encourage greater retirement security.”
With a retirement crisis looming, Larson said it is more important than ever that Congress advance public policies that promote economic security, Larson said.
“As a member of the Ways & Means Committee and the Ranking Member on the Social Security Subcommittee, I look forward to working with bipartisan leaders like Senator Isakson on this critical issue,” Larson said. “Congress must prioritize policies to help people prepare financially for retirement and to safeguard their loved ones because nobody should have to retire into poverty or worry about leaving their loved ones with the burden of debts.”
Kempthorne said policymakers face a daunting demographic challenge.
“Every day between now and the year 2030, 10,000 people will reach age 65. And half of those who reach age 65 will live 20 more years. This increased longevity is placing financial strains on public safety nets. Policymakers need to work with the private sector to find ways to reduce those stresses,” Kempthorne said. “Working with life insurers, the caucus seeks public policy solutions that address these challenges by encouraging Americans to save more, plan ahead and protect their financial and retirement security.”