There’s No National ‘Ponzi’ Scheme
Are our grandchildren doomed to inherit all of our debts, and nothing else? Such pessimism ignores the obvious fact that our grandchildren will inherit our assets along with our...
Private Equity and Accounting Firms
"I’d like to call this the ‘private equity invasion.’ With rock and roll, it was the British invasion. You know, the Beatles and the Rolling Stones. This is going...
Desperately Seeking Alpha (and Getting Caught)
Low rates, demand for yield, financial alchemy, gaudy incentives and a black swan event provided the ingredients for the cataclysm at AGI US. Pictured: SEC chief Gary Gensler.
Social Security’s Political Problems
As evidenced by the Committee for a Responsible Federal Budget's objections to a recent Social Security bill, even the moderates in Washington can't agree on reforms.
Who Has ‘Three Legs at Evening’? (The Elderly)
The Pension Research Council's Spring Symposium took place (virtually), which meant no semi-formal dinner with the sphinx at the University of Pennsylvania's museum. But the presentations of research papers...
The ‘Retirement Income Consortium’ is Born
Eight financial giants formed the Retirement Income Consortium to promote income solutions in 401(k) plans and 'develop a vetted due diligence framework' for 'selection and monitoring' of those solutions.
Why RIJ Obsesses over the ‘Bermuda Triangle’
Private equity is no longer a sideshow in the annuity industry. Its involvement is now the main event. But we know too little about private equity’s growing role in...
New York’s ‘shot-across-the-bow’ to PE firms
'Given the apparent misconception in the marketplace and the recent increase in insurance company transactions,' one industry analyst said, 'The Department wishes to remind industry participants...
Private Equity in the Life/Annuity Biz
Experts Tim Zawacki of S&P Global Market Intelligence, Rosemarie Mirabella of AM Best, and Jason Kehrberg of PolySystems presented data on “Private Equity and the Life Insurance Industry” at...
It’s Inflation or Recession: Larry Summers
In this research roundup, economist Larry Summers predicts a recession next year. We also review new papers on annuitization habits of TIAA participants, 'tontines' for Chile, shortages of...
Bloomberg’s Ideas for Overhauling 401(k)s
Bloomberg editors call the existing 401(k) program 'dysfunctional' and a 'morass.' Their critique is valid, but their suggestions are not quite new.
To Make the Economy Better, Let’s Not Make It Worse
Raising interest rates, driving down asset prices, and sparking layoffs can't be the best way to neutralize a petroleum-driven inflation. But higher rates could make real returns on bonds...
A ‘Cashback’ Pension-Building Card, from Germany
'The Vantikcard uses the 1% cashback as a kickstart into retirement savings and for customers to then save on top of the cashback,' a Vantik veteran said. Right: Vantik...
Your Retirement Money Diet
Morningstar's investment gurus put four variations of the "safe withdrawal" method through a simulated retirement scenario involving a 65-year-old man, a $1 million portfolio, and a 30-year time horizon....
White Paper Warns of PE-Led Life Insurers
The co-director of the Center for Economic Policy Research claims that conflicts of interest, risky investments, and regulatory arbitrage accompany the incursion of private equity firms into the life/annuity...
Meet Corebridge, AIG’s ‘Bermuda Triangle’ Venture
Corebridge Financial is AIG's Life & Retirement division, spun off and rebranded. It teams up with some of the world's largest asset managers and a reinsurer based in Bermuda....
Who Runs EBSA? It Matters
Ali Khawar, the acting head of the DOL's Employee Benefit Security Administration, spoke at an American Academy of Actuaries webinar. To learn about EBSA’s initiatives, we tuned in.
Europe’s Borderless New DC Plans
After 10 years of preparation, the European Union has created Pan European Personal Pension plans (PEPPs). These will be available to any EU-country citizen working in any EU country....
Tough Fed talk on inflation, little bite
'We prefer to take risk in equities over credit in the inflationary backdrop because we expect real—or inflation-adjusted—yields to stay historically low,' write BlackRock analysts.
401(k)s Are a ‘Fraud,’ and Other New Research
Here are five fresh, timely pieces of academic research on retirement-related topics, including the alleged unfairness of the employer-sponsored defined contribution plan savings system.
