Responding to Sen. Sherrod Brown's March inquiry, the association of state insurance commissioners gave high marks to their own oversight of PE-linked life/annuity companies. But the NAIC's 'nothing to see here' message disappointed some.
About 97% of all annuities sold are deferred annuities. I think of them more as tax-deferred, principal-protected investments than as personal pensions in retirement. Most people don't know the difference.
‘Constance,’ a CDA, gains new investment choices; Envestnet acquires 401kplans.com; Putnam repositions its target-date series for ESG; NIRS says retirement tax breaks are unfair; Alternatives can hedge inflation risk: Cerulli.
The life/annuity segment saw its dollar exposure to hedge funds rise in 2021 by 14.0%, to $6.1 bn, and the property/casualty segment by 0.9% to $6.7 bn, following several years of declines, according to AM Best.
Social Security paid benefits of $1.133 trillion in 2021. There were about 65 million beneficiaries at the end of the calendar year, according to the Social Security trustees' annual report, published June 2.