Dear Director Seitz and President Cameron
March 29, 2022 by Sheryl Moore
I am very intrigued that someone must have tipped-off Ohio democratic Senator, Sherrod Brown on what Kerry Pechter with Retirement Income Journal calls “The Bermuda Triangle.”
He wrote a letter to the US Treasury’s Federal Insurance Office and the National Association of Insurance Commissioners (NAIC), voicing his concerns, and asking some thoughtful questions.
– sjm
Dear Director Seitz and President Cameron:
I appreciate the attention that the Federal Insurance Office (FIO) and the National Association of
Insurance Commissioners (NAIC) have paid to the growing number of insurance obligations
being sold to alternative asset managers, like private equity firms. I am writing to express my
concern that insurance investment products workers depend on for their retirement are being
transferred to these risky companies that have a track record of undermining pension and
retirement programs. In FIO’s most recent report, you pointed out these arrangements have
become increasingly common over the last decade.1
Click HERE to read the full letter at Senate.Gov
