November 2023
17Nov

The National Landscape of State Retirement Benefits

By Jonathan Moody & Anthony Randazzo   Retirement security is ultimately about retirement income. Families and individuals want to know that during their retirement years they will have enough weekly, monthly, or annual income to live comfortably and meet their basic needs. Of course, many people aspire to more than just the basics. Ask even a handful of individuals about how they want to live in retirement, and you’ll hear a wide range of preferences. Expenses can vary from family-to-family, too,...

November 17, 2023
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17Nov

AI and Retirement – How It Will Affect Your Retirement Savings

By Carolyn Young  Artificial Intelligence (AI) is impacting humans more than any of us realize. It’s being used by marketers to gain customer insights, by manufacturers to automate processes, and by many businesses to analyze data and improve efficiency. AI’s ability to rapidly analyze large amounts of data has also given it a huge role in the financial industry, and thus can impact your retirement savings in a variety of ways. In fact, AI is being used most by the banking...

November 17, 2023
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14Nov

Ghana. GMA demands retirement salary for members, improved conditions of service

The Ghana Medical Association (GMA) is demanding that government put in place measures that will ensure all of its members continue to receive a salary even after retiring. The President of the Association, Dr. Frank Serebour tabled the demand at the 65th General Meeting of the Association on Monday, November 13. In his address, Dr. Frank Serebour said the conditions of service of doctors must also be improved. “We need to be protected from workplace hazards, we need to be given accessible...

November 14, 2023
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13Nov

US. UAW goes all in on building Cadillac DC plans for members

The United Auto Workers' talks last month with Ford, General Motors and Stellantis concluded without the long-shot reopening of the "Cadillac" defined benefit plans that union executives had targeted. Instead, the union won enough concessions to make members' defined contribution plans a plausible alternative for securing a comfortable retirement. Analysts say the surprisingly strong deal the UAW secured in those talks from U.S. automakers for member 401(k) accounts could elevate the prominence of DC-related demands in future collective bargaining talks. The...

November 13, 2023
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10Nov

In search of financially sustainable pension systems: three benchmark models

By Ekaterina Cuéllar, Daniel Gamboa & Waldo Tapia  One of the great dilemmas facing countries around the world is to define a pension system that is financially sustainable in the face of increasing life expectancy, falling fertility rates and the consequent lack of generational replacement. Globally, pension reforms in countries with more advanced aging processes have focused on implementing parametric reforms and incorporating automatic adjustments of the main parameters to share productivity, financial and demographic risks. In this article we present the advantages...

November 10, 2023
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03Nov

US. UAW’s Big 3 Retirement Deals Fall Short of Pension Revival

The United Auto Workers had an overarching goal last summer as it headed into negotiations with Detroit’s Big Three: claw back as many concessions as possible from the Great Recession, then keep pushing for an even better deal. In many ways it succeeded, with retirement being a notable exception. While the union won big improvements for savings plans, its long-shot endeavor to bring back pensions for younger members went nowhere, even as it won historic gains in pay and the elimination...

November 3, 2023
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01Nov

UAE’s new end-of-service savings scheme for private and free zone workers begins

The UAE government's new savings retirement plan for employees in the private and free zone sectors to invest their end-of-service benefits and build long-term wealth takes effect from today and does not have a minimum salary requirement, the Ministry of Human Resources and Emiratisation said on Wednesday. The Voluntary Alternative End-of-Service Benefits Savings Scheme, which was announced by the UAE government in September, is not mandatory but will require employers to register with the ministry if they choose to take part in the plan. For full-time employees...

November 1, 2023
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October 2023
24Oct

China, India face daunting challenge to grow retirement security amid demographic, cultural shifts

Retirement systems in China and India, home to the world's largest populations with around 1.4 billion people in each country, are still in nascent stages but are expected to grow as their economies expand and their demographics shift. In both countries, the first pension pillar — a state-sponsored pension system — has been seen as inadequate, and the second pillar — employer-sponsored retirement plans — is often insufficient in meeting people's rising post-retirement needs. A third pillar focused on building...

October 24, 2023
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23Oct

Europe’s defined contribution market poised for a boom

The defined contribution market in Europe is poised for significant growth, fueled by government reforms, growing importance of ESG for participants and increasing acceptance by stakeholders for DC to serve as a sustainable retirement solution. Figures released in June by the European Central Bank showed defined contribution plans making up 24.7% of retirement assets, at €646 billion ($680 billion). Cerulli Associates in 2022 projected compound annual growth rate of 9.6% for defined contribution in Europe over the next five years,...

October 23, 2023
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20Oct

Artificial Intelligence Policy: A Primer and Roadmap

By Ryan Calo Talk of artificial intelligence is everywhere. People marvel at the capacity of machines to translate any language and master any game. Others condemn the use of secret algorithms to sentence criminal defendants or recoil at the prospect of machines gunning for blue, pink, and white-collar jobs. Some worry aloud that artificial intelligence will be humankind’s “final invention.” This essay, prepared in connection with UC Davis Law Review's 50th anniversary symposium, explains why AI is suddenly on everyone's mind and...

October 20, 2023
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