RIJ and ChatGPT Discuss ‘Funding Short’

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

'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.

ChatGPT: Social Security Is No ‘Ponzi Scheme’

'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.)
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Warring Watchdogs: NAIC and FIO

'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.

Fee disclosure puts thousands of plan advisor jobs in play

For nimble plan sponsor advisors, 408(b)(2) and 404a-5 open new opportunities. For the less nimble, the new regulations mean job insecurity. But will fee transparency reduce fees at the expense of quality? That is the question.