Americans are accumulating significant resources in individual retirement accounts (IRAs) largely through rollovers from employer-sponsored retirement plans, according to an ICI report published today. Among the nearly 49 million U.S. households owning IRAs in May 2010, IRA assets...
In London today, at a hearing room of the House of Commons, I addressed The Henry Jackson Society, a nonpartisan think tank focused on human rights, constitutional democracy, and institutional reform. Asked to speak on the topic of “The Economic Future of an Aging Developed World,” I...
The average 401(k) retirement account rose 31.9 percent in 2009, according to a report released today by the Employee Benefit Research Institute (EBRI) and the ICI analyzing a group of consistent participants. The rise in 2009 was in line with the 2003–2007 pattern of steady increase...
Data in a new ICI study show that across all income groups, private-sector retirement income is more prevalent among retirees today than in the mid-1970s. These findings run against a couple of fairly common assumptions: that private-sector pension income has fallen over time and that...
The Institute filed a comment letter today with the Securities and Exchange Commission on its proposals to improve disclosure for asset-backed securities. Our view broadly is that the proposals will help mutual funds assess risks. However, we think the SEC should exclude municipal...
A November 2010 paper on U.S. capital markets from the Kauffman Foundation shows a fundamental misunderstanding of how exchange-traded funds ( ETFs) operate. The authors are respected industry authorities, and they offer some ideas that merit further consideration. But the paper...
Understanding the successes of the U.S. retirement savings framework can aid European regulators as they consider reform of pension systems in the European Union, ICI said in a comment letter. Our letter came in response to a European Commission “Green Paper” on how best to modernize...
New ICI research on trends in proxy voting by mutual funds finds that the 2007–2009 financial crisis altered the mix of proxy proposals funds voted on. Our economists’ examined more than 10 million fund votes cast during this period. Funds, as they contended with these changes. were...
Today, ICI filed its comment letter on the Securities and Exchange Commission’s proposal to replace Rule 12b-1. While our letter commends the SEC for addressing some legitimate concerns with Rule 12b-1, we question the proposal’s timing and breadth, calling it far more extensive and...
The newly-created Financial Stability Oversight Council (FSOC) has been tasked with determining which nonbank financial companies are systemically significant and therefore require additional regulatory scrutiny. The FSOC has asked for input regarding the specific criteria and...
