F-H-L-B Spells Cheap Cash for Big Annuity Issuers

By Kerry Pechter
The largest borrower from the Federal Home Loan Bank (FHLB) system in 2024 was Athene Annuity and Life, at more than $15 billion. For at least 16 other top annuity issuers, FHLB loans are a key source of "fungible," low-cost borrowed capital.

RIJ and ChatGPT Discuss ‘Funding Short’

By Kerry Pechter
Life insurers used to be known as champions of 'asset-liability matching,' or ALM. Today, many of them are doing the opposite by 'funding short.' Here's a transcript of RIJ's recent conversation with ChatGPT about the risks and rewards of funding short, and its role in today's annuity business.

Warring Watchdogs: NAIC and FIO

By Kerry Pechter
'The Federal Insurance Office conflicts with the states’ role as primary regulators, complicates their engagement with fellow insurance regulators globally, duplicates data collection from our industry,' said state insurance commissioners in asking Congress to eliminate the FIO.
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What Happens Now for Retirement Policy?

By Will Hansen
The author, a senior vice president of Retirement Policy at ERIC.org, predicts that the Trump administration will reverse several Obama initiatives: the overtime rule; paid sick leave for federal contractors; revisions to EEOC EEO-1 form; and the Conflict of interest rule.
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Edward Jones’ 401(k) plan accused again of ERISA violations

By Editorial Staff
A federal class action suit in St. Louis charges the Edward Jones 401(k) plan with offering its participants high-cost funds from asset managers that were also paying tens of millions of dollars a year for shelf space on the firm's brokerage platform.

Warring Watchdogs: NAIC and FIO

By Kerry Pechter
'The Federal Insurance Office conflicts with the states’ role as primary regulators, complicates their engagement with fellow insurance regulators globally, duplicates data collection from our industry,' said state insurance commissioners in asking Congress to eliminate the FIO.

Honorable Mention

By Editorial Staff
New York Life pays dividend on deferred income annuity, Capital One Financial drops IRA commissioned sales, and Voya Financial Advisors touts its technology-led growth.