“The Ultimate Ponzi Scheme”
In the third of three excerpts from "Guaranteed to Fail," the authors explain how off-budget housing guarantees through Fannie Mae and Freddie Mac have enabled a succession of presidents...
Republican budget manifesto released
The top individual and corporate tax rate would drop to 25% from 35% under the "Path to Prosperity" proposal written by House budget committee chairman Paul Ryan (R-WI).
Hedge fund managers bearish on U.S. equities and Treasuries
“While hedge fund managers remain bearish, hedge fund investors are showering them with fresh cash,” said Sol Waksman, founder and President of BarclayHedge.
Retirement confidence low, survey shows
The percentage of workers not at all confident about having enough money for a comfortable retirement has grown to 27%, the highest level measured in the 21 years of...
How to solve Social Security’s solvency problem
Alicia H. Munnell, director of the Center for Retirement Research at Boston College, made her recommendations in an op-ed piece in the New York Times this week.
One Reason the Crisis Got So Bad
Banks needed to reserve 4% for mortgage loans, but only 1.60% for mortgage-backed securities issued by Fannie Mae or Freddie Mac. So banks loaded up on MBSs. A second...
Events that may interest you
The Retirement Industry Conference is coming up soon, to be followed by several other events that RIJ readers might want to attend.
Corporate pension funded status improved by $12.4 billion in 2011: Milliman
Last August, falling interest rates drove up the projected benefit obligation and resulted in a record deficit for the 11-year history of the Milliman Pension Funding Study.
Morningstar gives just six fund families an “A” for stewardship
The results of Morningstar's 2011 Mutual Fund Stewardship Grade Research Study are in.
Vanguard announces active, multi-manager emerging markets equity fund
The Vanguard Emerging Markets Select Stock Fund is expected to have an expense ratio of 0.95%, a $3,000 minimum and a 2% redemption fee on shares held less than...
State pension reform may undermine Britain’s DB plans
Britain's plan to simplify the state pension to a single-tier plan could hurt private DB plans by ending "contracting-out," the practice of substituting contributions to a private plan for...
Did Income Inequality Cause the Crisis?
Those with surplus money naturally lend to those who need money. But, as two IMF experts show, disaster can occur when too much money is lent for consumption and...
When Herds Get Overconfident, Run for Cover
Steve Utkus of the Vanguard Retirement Research Center proposes a four-part model to explain the psychological dynamics behind the most recent financial bubble, and similar bubbles.
RIIA Marks a Few Milestones
The Retirement Income Industry Association, led by Francois Gadenne, has published the third edition of the text for its RMA certification program, and the first issue of The Retirement...
IRIC offers guidance on selecting in-plan GMWB
ERISA experts Fred Reish and Bruce Ashton offer guidelines for fiduciaries who consider offering a guaranteed lifetime income option within employer-sponsored retirement plan.
CIO who timed real estate market for MetLife becomes its CEO
MetLife named Steven Kandarian as its new president and CEO. In 2006, as CIO, he divested MetLife's aging Manhattan apartment complexes for $5.4 billion. They are now valued at...
Many advisors overlook rollovers: Cogent
Outside of Lake Wobegon, not all advisors are above average—especially when it comes to success in capturing rollover money.
Domestic non-financial debt level now $36.3 trillion
The bad news: America’s households owe even more than the federal government does. The good news: U.S. household net worth—assets minus liabilities--is almost $57 trillion.
Putnam’s Man with a Plan
Putnam Investments CEO Robert Reynolds called for a new lifetime income regulatory body and announced a decumulation tool for Putnam funds in a speech at the RIIA meeting this...
China outlines Social Security Fund expansion
The SSF, which was established in 2000 and receives a statutory 10% of the proceeds of all IPOs by Chinese state-owned enterprises (SOEs), is the largest pension fund investor...
