ChatGPT: Social Security Is No ‘Ponzi Scheme’

By Kerry Pechter

'Ponzi schemes are private frauds that collapse when new investors stop joining. Social Security is managed by the U.S. government, backed by legal mandates and payroll tax revenues,' ChatGPT told me. (Art: 1980s Social Security poster.)

Cross-Fire: NAIC and Fed Economists Release Same-Day Zingers

By Kerry Pechter

On March 21, Federal Reserve economists published research warning about increases in high-risk lending by U.S. life insurers. On the same day, the National Association of Insurance Commissioners asked Congress to eliminate the Federal Insurance Office.

‘The Bailout State’ Explains the U.S. Money Mess

By Kerry Pechter

Over the past 50 years, the U.S. government has repeatedly used its deep financial resources to protect the interests of asset holders at the expense of wage earners, University of Sydney economist Martijn Konings argues in this insightful new book.

Australia’s ‘Super’ DC program faces decumulation problem

By John Mitchem

'While superannuation funds have excelled at accumulating wealth, they have struggled to provide products that deliver reliable income streams throughout retirement,' warns a Jasper Forum spokesperson.

Participant Sentiment a ‘Hurdle’ to 401(k) Annuity Uptake: Cerulli

'The tradeoff between liquidity and a guaranteed income stream is unappealing for many participants,' a Cerulli survey of asset managers found.

How Ready is Your State for Retirement? Here’s an Answer

The Georgetown University Center for Retirement Initiatives has just released a 130-page document, 'Who Lacks Access to Retirement Savings? A State Level Analysis.' You can access a pdf copy in this article.

Lockheed/Athene PRT Challenge Moves to Next Stage

April's items: Federal judge allows Lockheed/Athene pension lawsuit to proceed; U.S. PRT Deals Worth $51.8 billion in 2024: LIMRA; Higher rates a ‘double-edged sword’ for life insurers: ALIRT; ‘Personal Defined Benefit Plan’ launched; The 401(k) income trend progressing like 'a baseball game': IRIC; Three well-known financial firms acquire Viridium Group; Lincoln to offer private markets funds; Protective in $9.7 billion reinsurance deal with Resolution Life; Insurer downgrades outpaced upgrades in 2024: AM Best.

Data Connection: Life Insurer Collateralized Loan Obligations Holdings

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