Changes to Internal Revenue Code 7702 — What Does It Actually Mean?

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Maureen Shaughnessy, FSA, MAAA

Maureen Shaughnessy joined LIMRA in 2017 and is responsible for the array of industry-wide experience studies done in conjunction with the Society of Actuaries (SOA) Research Institute. Studies focus on a broad range of life, health, and retirement products and analyze key product metrics including mortality, morbidity, and policyowner behavior experience. Prior to joining LIMRA, Maureen spent 14 years in various insurance company actuarial roles where she most recently directed the life and annuity experience analytics team.

Maureen earned her bachelor’s degree in Applied Mathematics from the University of Evansville. She is a member of the Society of Actuaries and the American Academy of Actuaries, and earned a certificate in Predictive Analytics through the SOA.

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Kim Lunn, JD

Kim Lunn is one of the product tax attorneys at Northwestern Mutual. She received her JD from George Washington University and an LLM in taxation from Chicago Kent.  Her legal career started in small suburban Chicago law firms that combined divorce litigation with trust and estate tax planning, but she soon realized that the tax code is far more interesting than divorce.  Kim left the litigation world to join Allstate’s corporate tax department, where she was one of the product tax attorneys for many years.  She joined Northwestern Mutual’s law department in 2014.

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Mark C. Rush, JD

Mark C. Rush is Head of Product Tax Legal at Massachusetts Mutual Life Insurance Company. He has been with MassMutual for 20 years and currently manages the product tax group of the law department. Mark’s group is responsible for all legal matters relating to the taxation of MassMutual’s insurance products, including life insurance, annuities, disability income, long-term care, and qualified products. Mark advises on tax compliance in regards to product design, administration, information reporting and tax withholding, and sales and marketing. He also supports and advises on legislative and regulatory matters that may affect the taxation of MassMutual’s products. Prior to joining MassMutual, Mark was senior tax counsel for Allmerica Financial Corporation. Mark received his J.D. from the Western New England University School of Law in 1993. He received his L.L.M. in tax law from Boston University in 1994.

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Amanda Young, FSA, CPA, MAAA

Amanda Young is currently vice president of tax and tax policy at Northwestern Mutual. She just celebrated 20 years at the company, many of which were spent as an actuary focused on valuation topics and PBR. Since tax reform in 2017, Amanda’s role has changed to focus solely on tax and now she heads up the company’s tax operations and tax policy work.

Amanda is originally from Iowa and has a BS in accounting from Iowa State University. She received my CPA in 2001 and FSA in 2008.