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 were still well-worth hearing.

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.

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 LIMRA's 2022 Life Insurance Conference in Tampa this week. 
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U.S. spends $3.4 trillion in 11 months

Federal outlays through August totaled $3.4 trillion, up 2% from the same period last year. Receipts in the first 11 months totaled $2.2 trillion, up $126 billion from the same period last year. (Federal fiscal year ends Sept. 30, 2012.)

The Bucket

Brief or late-breaking items from New York Life, Phoenix Companies, Strategic Insight, BlackRock, DST Systems Inc., AXA Equitable Life, and Principal Financial.

Fed pledges action until economy shows gains

The Fed also acknowledged its limits. “Monetary policy, particularly in the current circumstances, cannot cure all economic ills,” the Fed chairman, Ben S. Bernanke, said at a news conference.