Protection and Choices for Retirement Savers

Every day, 10,000 Americans turn 65 years old. Those celebrants undoubtedly have as many different ideas about their retirement planning as they have birthday candles. Retirement planning needs vary. Fortunately, regulators and lawmakers are recognizing that. Case in point: the U.S. Department of Labor (DOL) has moved in the right direction toward a harmonized approach … Continue reading “Protection and Choices for Retirement Savers”

Life Insurers Meeting The Moment With Investment Capital

America’s life insurance companies have been #MeetingTheMoment for our nation since the COVID-19 pandemic hit our shores. From the earliest days of the crisis, life insurers have been providing invaluable support to their customers, their employees and their communities. Industry leaders are supporting government officials by listening to needs, organizing action, and showing compassion. At the … Continue reading “Life Insurers Meeting The Moment With Investment Capital”

Closing America’s Opportunity Gaps

[A version of this article appeared on LinkedIn] Our country faces a pivotal moment to address systemic injustices faced by African Americans that lead to economic disparities.  Last month, I was invited by the U.S. Chamber of Commerce to represent the American Council of Life Insurers (ACLI) on a national steering committee to help develop an … Continue reading “Closing America’s Opportunity Gaps”

Protecting Access for All Savers

With all the turbulence and strife in recent months, we sure could use some soothing news. Cue up the Securities and Exchange Commission and its Regulation Best Interest (Reg BI). Reg BI takes effect tomorrow. Together with the National Association of Insurance Commissioners’ (NAIC) revised Suitability in Annuity Transactions Model Regulation, Reg BI will ensure financial professionals … Continue reading “Protecting Access for All Savers”

Consumers Are Protected by Regulation Best Interest

In a few days, consumers will enjoy enhanced protections under the Securities and Exchange Commission’s Regulation Best Interest (Reg BI). Reg BI imposes a heightened standard of conduct on financial professionals beginning June 30. Reg BI is the first step toward national, harmonized enhanced consumer protections for consumers seeking guaranteed lifetime income. Together with Form … Continue reading “Consumers Are Protected by Regulation Best Interest”

Retirees Protected in Pension Risk Transfers

In recent years, major corporations like FedEx and Alcoa have shifted retiree pensions to annuities offered by life insurers. While these pension risk transfers shift obligations to an insurance company from an employer, they don’t change the benefits retirees receive. That is because, like traditional pensions, an annuity guarantees retirees a stream of income they … Continue reading “Retirees Protected in Pension Risk Transfers”

Colorado: Doing What’s Right For Retirement Savers

The volatility of the COVID-19 economy and its impact on the finances of millions of Americans has underscored the growing societal need for financial security. At the same time, the recent economic disruption has created budgetary shortfalls in many states, prompting lawmakers to consider new ways to cut expenses and raise revenues. Some of these … Continue reading “Colorado: Doing What’s Right For Retirement Savers”