A group for financial services professionals has suspended a scheduled increase in production qualification requirements.
The Million Dollar Round Table, Park Ridge, Ill., an association that has about 31,000 members in 80 nations, shelved an annual production standards increase that was slated to take effect for the 2010 membership year, MDRT President Walton Rogers writes in a letter sent to the organization’s members.
In 2010, MDRT will retain the standards applied in 2009.
The U.S. production requirements structure will be based on a minimum of $87,900, in U.S. currency, in eligible commissions, or $175,800 in eligible paid premium.