[Congressional Record Volume 141, Number 197 (Tuesday, December 12, 1995)]
[Senate]
[Page S18447]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    JOHN TURNER, CHAIRMAN OF THE AMERICAN COUNCIL OF LIFE INSURANCE

 Mr. GRAMS. Mr. President, on Tuesday, November 14, 1995, Mr. 
John Turner, chairman and CEO of ReliaStar Financial Corp., a financial 
services holding company in Minneapolis, MN, became the new chairman of 
the board of directors of the American Council of Life Insurance 
[ACLI].
  The ACLI represents over 600 companies that write 92 percent of the 
life insurance and 95 percent of the pension business in the United 
States. As chairman, Mr. Turner will guide the ACLI as it works with 
Federal and State legislators, regulators and agencies to ensure the 
laws and regulations we enact serve the best interest of our Nation's 
business and individual policyholders and consumers, as well as 
insurance companies.
  I want to take this opportunity to congratulate John on this high 
honor and also to recognize the many years of community service he and 
his wife Leslie have played in the Twin Cities. From Leslie's 
involvement with the Girl Scouts of America and her service on the city 
council of Edina, MN to John's work on issues dealing with youth and 
education, they have made a positive difference in Minnesota.
  Professionally, Mr. Turner has been an active member of the ACLI's 
board of directors for 3 years, and in that capacity, he has given 
tremendous service to an industry that, in turn, serves this Nation so 
well.
  Life insurance companies provide a necessary service by helping to 
deliver financial security and peace of mind to millions of American 
families and individuals. Insurance industry products allow people to 
keep their homes and businesses, enable children to continue their 
education, and help support aging parents. The industry's retirement 
products provide the means by which this Nation's present and future 
retirees can achieve their financial independence and help fulfill 
their financial dreams.
  Mr. President, this Congress is in the process of returning power and 
responsibility to States, localities and, most importantly, to 
individuals. This unprecedented shift in power from Washington to the 
rest of America was summed up by John Turner in his inaugural speech as 
Chairman of the ACLI when he said: ``Neither Washington nor corporate 
America will much longer assume the financial burden of underwriting 
people's retirement security; that responsibility is being transferred 
to individuals.''
  As this process continues, a broad range of issues from financial 
services modernization to tax reform to retirement income security will 
take center stage. From my seat on the Senate Banking Committee, I look 
forward to working closely with John on these and many other important 
issues.
  As it provides for fully one-third of this Nation's long-term 
savings, the life insurance industry is the foundation of financial 
security for millions of Americans and for our country. I am pleased to 
see that John Turner will be leading this effort from his new position 
as chairman of the ACLI.
  Again, Mr. President, I would like to congratulate John Turner and 
the ACLI. I am confident that he will bring to his new post the same 
dedication, honesty, and integrity he has demonstrated to ReliaStar 
Financial Corp. and the people of Minnesota. I wish John all the best 
and look forward to working with him the year ahead.

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