National Association of Investment Companies (NAIC)’s Post

Registration is open for our next Industry Insights Live webcast on July 16 where NAIC President & CEO Robert L. Greene (Bob) will lead a discussion with Thomas P. DiNapoli, the 54th Comptroller of the State of New York. Under DiNapoli’s leadership, amid volatile markets, the $259.9 billion New York State Common Retirement Fund achieved a 9.5% return in Fiscal Year 2022, maintaining a 102.9% funded ratio—one of the highest in the nation. He has also significantly increased investments with diverse- and women-owned firms, reaching over $31 billion. In addition to overseeing the New York State Common Retirement Fund and administering the state’s retirement system, DiNapoli provides independent fiscal oversight on State, New York City and local finances, technical assistance and training to local government officials and school districts. He also reviews state contracts and payments, maintains the state’s accounting system, and administers its payroll. Register: https://lnkd.in/e33dnRpr #capitalallocators #alternativeinvesting #diverseinvestments

A great op-ed out in the Arizona Capitol Times by Tim Hill on how investment decisions should be trusted to fiduciaries and investment professionals. https://lnkd.in/es35JPVX "Free-market principles and the fiduciary requirements of investment professionals should drive investment decisions for our public employee pensions. For the benefit of future Arizona retirees, the standard should be simple and unburdened by the political trends of the moment," - Tim Hill Policies federally and in states, like Arizona, which limit the ability of investors to consider important pieces of financial information, including environmental, social and corporate governance data, make it more difficult for fiduciaries and investment professionals to accurately price risks and opportunities. #SustainableInvesting #ESG #ResponsibleInvesting

Public retirement systems in Texas, Oklahoma, and other states are discovering the cost of blacklisting investment firms that manage pension assets for public employees like police, firefighters, nurses, and teachers. When will these states’ elected officials stop their activism? Learn more at https://buff.ly/45opQnx #apsr #pensionsnotpolitics #retiresecurely 

📢 The Department of Labor (DOL) has released a proposal to expand the definition of investment advice fiduciary and make changes to prohibited transaction exemptions with the ultimate goal of: ◼️ Modernizing the rule to meet the realities of today's marketplace ◼️ Providing additional protections for Retirement Investors Get all the details by clicking the image below ⬇️ #investing #retirement #compliance #financialservices

📢 The Department of Labor (DOL) has released a proposal to expand the definition of investment advice fiduciary and make changes to prohibited transaction exemptions with the ultimate goal of: ◼️ Modernizing the rule to meet the realities of today's marketplace ◼️ Providing additional protections for Retirement Investors Get all the details by clicking the image below ⬇️ #investing #retirement #compliance #financialservices

📢 The Department of Labor (DOL) has released a proposal to expand the definition of investment advice fiduciary and make changes to prohibited transaction exemptions with the ultimate goal of: ◼️ Modernizing the rule to meet the realities of today's marketplace ◼️ Providing additional protections for Retirement Investors Get all the details by clicking the image below ⬇️ #investing #retirement #compliance #financialservices

The California Public Employees’ Retirement System (CalPERS) reported a 9.3% gain for its latest fiscal year, with returns driven largely by public equity investments and )debt. The returns, which outpaced a 6.8% annual target, pushed total assets at the biggest US public pension fund to $502.9 billion for the fiscal year ended June 30, Calpers said Monday in a statement. That’s enough to cover 75% of its future obligations, better than 72% at the end of the previous year. https://lnkd.in/gSMD6wwa

A report from the Conference Board outlines potential solutions to address the impending insolvency crisis facing the Social Security trust funds. Among the suggested reforms are raising the retirement age and removing the taxable income cap. https://hubs.la/Q02m2qj80 #SocialSecurity #Retirement #FinancialPlanning #PolicyReform #ConferenceBoard

As co-chair of ADISA's Legislative & Regulatory Committee, I have closely followed the Department of Labor's efforts to finalize its “Retirement Security Rule: Definition of an Investment Advice Fiduciary,” RIN 1210-AC02, or as its more simply known – the DOL fiduciary rule. The final rule was released on April 23 and will become effective on Sept. 23. #DepartmentofLabor #DOL #fiduciaryrule #registeredinvestmentadviser #RIA #retirementsecurityrule #fiduciarystandard #ERISA #retirementsavers #HispanicLeadershipFund #brokerdealer #investmentadvice #SupremeCourt #guestcontributor

The Department of Labor (DOL) has introduced a plan to broaden the scope of advice fiduciary and prohibited transaction exceptions with these aims: Updating the regulation to align with contemporary market conditions- Offering extra safeguards for Retirement Investors #investing #retirement #compliance #financialservices