PACIFIC LIFE INSURANCE COMPANY for PACIFIC LIFE INSURANCE COMPANY
What was lobbied
5 issue areas, each in the filer's own words, with who lobbied on it and where.
Taxation/Internal Revenue Code TAX
Issue: Ordinary treatment of bonds. Issue: Implementation of corporate minimum tax in Inflation Reduction Act of 2022. Issue: Ordinary treatment bill - Secure Family Futures Act of 2023, or H.R. 5707 Issue: Life Insurance Tax Stabilization Proposal (no bill introduced yet) Issue: S. 3367, Billionaires Income Tax Act, Sen. Wyden (D-OR) Issue: Private Placement Life Insurance (no bill introduced yet)
| Lobbyist | Covered position, as disclosed |
|---|---|
| SEAVER SOWERS | — |
| SANDY SUSSMAN New | — |
Insurance INS
Issue: Private equitys growing role in the insurance industry. Issue: Chairman Wydens investigation of Private Placement Life Insurance (PPLI). Issue: H.R. 1807, E-delivery legislation. Issue: Request for information from Congress regarding the diversity and inclusion information in the insurance industry. Issue: BASEL III. Issue: Insurance Capital Standards (no bill introduced)
| Lobbyist | Covered position, as disclosed |
|---|---|
| SEAVER SOWERS | — |
| SANDY SUSSMAN New | — |
Retirement RET
Issue: 403(b) parity Issue: Reforming DOLs pension risk transfer bulletin, 95-1. American Worker Savings & Wealth Creation Plan Act: Would create a federally run retirement plan, similar to the TSP, that would be available to all private sector workers whose employer signs up for the plan. No bill yet. Issue: Technical corrections on catch up contributions under SECURE 2.0 Issue: SEC market conduct rulemakings Issue: Fiduciary rulemaking. Issue: H.R. 3942, Lifetime Income for Employees (LIFE) Act of 2022: Amends the current rules for qualified default investment alternatives to facilitate the use of an annuity component will expand the availability of guaranteed returns and guaranteed lifetime income that help savers secure their retirement futures. Issue: H.R. 4237, Ensuring Sound Guidance Act: Would require investment advisers and ERISA retirement plan sponsors to prioritize financial returns over non-pecuniary factors when making investment decisions on behalf of their clients. Issue: S. 2517, H.R. 4924, The Auto Reenroll Act of 2023: The bill allows plan sponsors to re-enroll non-participants at least once every three years, unless the individual affirmatively opts-out again. The bill also permits plans to sweep all eligible employees as a group for re-enrollment and does not change the automatic enrollment safe harbors Issue: H.R. 6065, Retirement Savings for Americans Act, authorizes a federally run TSP. Issue: S. 2415, H.R. 7107, the Long-Term Care Affordability Act. The bill allows plan tax free distributions on retirement accounts to fund LTC contracts Issue: Tri-Agency rule on supplemental health benefits Issue: SECURE 2.0 Technical Corrections Discussion Draft: Legislative language that will amend SECURE 2.0 to make technical changes to a variety of provisions. Issue: S. 3305 Helping Young Americans Save for Retirement Act: The legislation would lower the minimum participation age in ERISA-covered defined contribution plans from age 21 to age 18.
| Lobbyist | Covered position, as disclosed |
|---|---|
| SEAVER SOWERS | — |
| SANDY SUSSMAN New | — |
Consumer Issues/Safety/Products CSP
H.R. 1165 Data Privacy Act of 2023 - The bill amends Title V of the Gramm-Leach-Bliley Act (GLBA) to include a number of new consumer protections, establishing requirements for covered entities to disclose the types and uses for data being collected, along with an opt-out function. The legislation, which would preempt state law, also mandates more transparent and easily understandable privacy terms and conditions. Issue: Data Privacy Issue: Draft legislation that would require notice of data security breaches. Issue: Cybersecurity and Privacy. Issue: H.R. 5628/s.2892, Algorithmic Accountability Act. Authorizes FTC rulemaking. Issue: Draft data privacy legislation.
| Lobbyist | Covered position, as disclosed |
|---|---|
| SEAVER SOWERS | — |
| SANDY SUSSMAN New | — |
Financial Institutions/Investments/Securities FIN
Issue: Cannabis legislation Issue: FHLBank System Issue: Environmental, Social, and Corporate Governance (ESG). No bill number assigned. Issue: Oversight of credit rating agencies Issue: Regulation Best Interest Issue: H.R.1059/S. 1212 - Securing and Enabling Commerce Using Remote and Electronic Notarization Act. Issue: BASEL III Issue: Covered agreement on prudential measures with respect to business of insurance and reinsurance. Issue: Independent contractor status. Issue: H.R. 3335 - IRS Income Verification Express Service Act - This bill ensures the successful development of the electronic Income Verification Express Service of the Internal Revenue Service by amending the Taxpayer First Act to clarify that taxpayer identity verification is the responsibility of users of the system rather than the taxpayer. Issue: Electronic disclosure.
| Lobbyist | Covered position, as disclosed |
|---|---|
| SEAVER SOWERS | — |
| SANDY SUSSMAN New | — |
Shown as published by the Senate Office of Public Records and the House Clerk under the Lobbying Disclosure Act. The official filing is the record; open it for the full form.