The Pennsylvania House Commerce Committee reported out the "Keystone Saves" bill, HB 577, by a 12-9 vote this week. The bill would establish an automatic payroll deduction IRA, administered by the Commonwealth of Pennsylvania through payroll deductions by employers. NAIFA-PA has been working to defeat the bill, with State President Tracy Russo-Keesey, writing to committee members asking them to consider improvements to  retirement options made by the U.S. Congress in the SECURE 2.0 Act and pointing out the questionable track record of other states in offering similar programs. NAIFA-PA will continue to work against the legislation, which may be considered by the full house as early as the week of May 22.

NAIFA-GREATER PHILADELPHIA recently honored its Rising Stars for 2023. These up-and-comers are selected by a committee intent on recognizing the best characteristics of advisors in the industry. The honorees are from left, Greg Dexter, New York Life, moderator, Dawn Grandstrom, New York Life, Adam Bykowski, Mass Mutual Eastern PA, Tim Price, Mass Mutual Greater Philadelphia, Brian Walls, Northwestern Mutual, Anthony Correra, MBA, CLTC, and Natalie Petrongola, New York Life. Congratulations to all of the Rising Stars for 2023.