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The recent surge of interest in the boomer retirement tsunami drove an interview with “Age Wave” retirement guru Ken Dychtwald to the most read advisor story for 2025.

The public business breakup of social media darlings Gary Brecka and Grant Cardone drove a series of stories to near the top of the readership list for the year. The dueling lawsuits between Grant Cardone and Gary Brecka in Florida have been resolved. Both sides settled their state and federal court disputes stemming from their business breakup and competing claims.

A study on Gen Z in the workplace, why the 4% rule may be outmoded, and the fate of the estate tax under a second Trump administration all climbed to the top of the list as well.

Here are the top 5 most read stories for 2025:

Is the ‘Age Wave’ a retirement tsunami? — With Ken Dychtwald

As people live longer, retirement is becoming much more challenging for financial advisors and their clients as they seek to optimize their “golden years,” enjoy continued good health and implement strategies to deal with the challenges of aging. That’s the main message of gerontologist, psychologist and lecturer Ken Dychtwald, co-founder of the Age Wave think tank.

Dychtwald has spent much of his five-decade career developing the concept of the “age wave,” a population and cultural shift caused by the converging global demographic forces of the baby boom, increasing life expectancy and declining fertility rates. Dychtwald and his wife, Maddy, founded Age Wave, a think tank and consultancy with a perspective on the social, business, health care and financial implications and opportunities of global aging and rising longevity.

Read more.

Gary Brecka, Cardones file dueling lawsuits in battle of social media stars

A bitter fight between social media personalities in a fractured business partnership resulted in dueling holiday lawsuits between Gary Brecka and Grant Cardone.

Brecka and his wife Sage Workinger filed a $100 million defamation lawsuit in the Eleventh Judicial Circuit of Florida against Elena Cardone, wife of Grant Cardone. A second lawsuit alleges a breach of contract related to an employment dismissal.

Brecka and Workinger filed their lawsuits the day after Christmas. That same day, Grant Cardone filed a federal lawsuit against Brecka and Workinger. All involved are popular social media personalities who joined forces in 10X Health System, a wellness company that uses data-driven strategies to improve human health and longevity.

Cardone’s lawsuit language left no doubt that the relationships are permanently soured.

Read more.

Gen Z is not OK, MetLife workplace study says

Generation Z is the newest age cohort to enter the workforce, and they are poised to make up nearly half of the nation’s workers in the next five years. But although these young adults are emerging as the future of America’s workforce, their financial health is not good, and they need support from their employers.

Those were among the findings in the most recent MetLife Employee Benefit Trends Study, which was conducted in September and will be released in March.

“Gen Z is not necessarily doing well,” Todd Katz, MetLife executive vice president of group benefits, told InsuranceNewsNet. “Our study showed holistic health for all employee age groups is down a bit, but it’s down the most for Gen Z.”

Gen Z employees scored lower in their holistic health measurements than did similar age groups five years ago and earlier, Katz said.

Read more.

Estate tax exemption likely to stay high (or disappear) under Trump II

Now that Donald Trump has won a return to the White House the future of the estate tax is a little clearer.

The estate tax, along with the rest of the Tax Cuts and Jobs Act, is slated to sunset at the end of 2025. If the estate tax exemption reverts to the pre-TCJA amount, it will represent the biggest estate tax increase in 85 years, said John Resnick of The Resnick Group.

Based in Naples, Fla., John and his wife Billie focus on estate planning, life insurance guidance, and business succession. They have been busy in recent months crafting estate plans for high-net-worth clients.

Clients who can breathe a little easier now that Trump will return to office. With Republicans set to control the Senate and likely the House of Representatives, the party will have broad power to extend the tax cuts.

Beyond that, it’s hard to say for sure, said Billie Resnick.

Read more.

Choosing the scenic route: Why diversification matters

Last summer, I took a road trip on Route 66. I could have chosen the interstate — a faster, more direct route; instead, I opted for the dusty, beaten-up “Old Route 66.” It wasn’t the quickest way to my destination, yet it was by far the most rewarding. Along Route 66, I discovered incredible attractions I would have missed on the highway: quirky roadside diners, historic landmarks and breathtaking views. The journey itself became as valuable as the destination.

Annuities remind me of that trip.

On the surface, annuities may seem like a straightforward, one-lane highway to reaching a financial goal such as retirement income or stability. But if you take a closer look, you’ll find opportunities to explore new paths through internal diversification. Allocating premium to model blends within a fixed index annuity is like choosing the scenic route on the financial journey — it opens up options that can improve the experience and help clients arrive at their goals sooner, potentially with more “gas” in the tank.

Read more.

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It was a good year for life insurance sales. But problems with indexed universal life overshadowed some of that good news.

IUL comes with a death benefit and a cash value that grows based on a stock market index, but isn’t directly invested in it. A portion of the premium pays for insurance costs and fees, while the rest earns interest, usually with a guaranteed minimum and a maximum return.

IUL can be difficult for consumers and agents to understand, leaving the potential for bad sales much greater. New annualized premium for individual life insurance rose 16% year over year in Q3, reaching $4.3 billion, according to LIMRA.

But the ongoing controversy around IUL filled the list of our most-read stories of 2025:

Big sales, big problems with IUL

This September 2024 story gained new audiences after fresh IUL controversies. It gives a soup-to-nuts explanation of the product and its many positives and negatives.

One thing that nobody will argue is that IUL sells — and sells big. While other types of life insurance products lag with low single-digit growth or negative sales numbers, IUL face amount keeps increasing.

“Many clients appreciate that an indexed universal life insurance policy offers a zero-floor guarantee,” said Raza Begg, an executive director at Experior Financial Group in Cheektowaga, N.Y. “This guarantee means that the policy is guaranteed never to lose or incur losses based on a stock market index, providing a level of safety that attracts risk-averse investors.”

Versatility and powerful sales ensure that IUL is not going away in the near term. But is change needed to help indexed universal life insurance evolve into a more responsible life insurance product? Many insurance professionals say yes and point to illustrations, participation rates, and consumer education as areas that are lacking.

IUL critics have “some valid points,” Begg conceded, noting that an IUL policy is a fairly new product to many policyholders.

Read more

A-Cap suspends Sentinel Security Life

Sentinel Security Life Insurance Co. suspended writing new business early in 2025 until a judge could hear its appeal of a Utah order.

Utah regulators claimed the insurer was in poor shape financially and was using new premium to meet ongoing financial obligations as they come due. The Utah Insurance Department order barred Sentinel Security Life Insurance Co. from writing new business after Dec. 31, 2024.

The order covered two associated reinsurance companies: Haymarket Insurance Co. and Jazz Reinsurance Co. The three companies share the same Salt Lake City address and are owned by Advantage Capital Partners, known as A-Cap.

Utah withdrew its rehabilitation petition in May, dismissing the case, as the parties agreed to resolve issues through mediation rather than court action.

Read more

Kyle Busch Case: A day of reckoning for IUL?

This November story delved into the Kyle Busch vs Pacific Life lawsuit and its potential impact on the IUL industry.

Filed in Lincoln County, N.C. state court, where the Busches live, the complaint accuses Pacific Life Insurance Co. and its appointed agent of designing and promoting a series of complex IUL policies as “tax-free retirement plans” that were misrepresented as safe, self-funding investment vehicles.

According to the filing, the defendants used misleading illustrations, undisclosed costs, and false promises of guaranteed multipliers and controllable charges to induce the Busches to pay more than $10.4 million in premiums, resulting in net out-of-pocket losses exceeding $8.58 million.

A PacLife spokesman said the company has been in touch with the Busches and their attorney. The case remains active.

Read more

SC judge rules Atlantic Coast can stay in business

South Carolina Judge Ralph King Anderson III reversed a state Department of Insurance order that had banned Atlantic Coast Life Insurance Co. from writing new premiums.

In his February decision, Anderson rejected the department’s conclusion that Atlantic Coast was in financial distress.

“The evidence shows that ACL maintains a positive cash flow and has not experienced any difficulty paying amounts owed to either its policyholders or creditors,” he wrote.

Atlantic Coast is owned by Advantage Capital Partners, known as A-Cap. Claiming the insurer’s underlying financial condition is poor, South Carolina regulators had banned Atlantic Coast from writing new life policies after Dec. 31, 2024.

Read more

Lawsuit accuses National Life of misleading IUL sale

This November 2024 story about an Indiana woman suing National Life over her IUL attracted plenty of readers throughout 2025.

Sanya Virani claims the IUL relies on back-tested historical performance that does not match reality and is “a fraudulent sham.” Virani is locked into a product that is not performing as promised and comes with costly surrender fees if she were to terminate the policy, the complaint states.

Virani filed the lawsuit in the U.S. District Court for the District of Vermont, where NLV is headquartered. The lawsuit remains active.

Also listed as defendants are National Life Insurance Co. and Life Insurance Co. of the Southwest. The complaint is just the latest in a series of lawsuits nationwide by dissatisfied IUL policyholders who claim they were misled by rosy illustrations.

A spokeswoman for National Life released this statement after the lawsuit was filed: “We strongly dispute the plaintiff’s allegations, and we intend to vigorously contest them.”

Read more

© Entire contents copyright 2025 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.

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The year in annuities started well, ended well, and was pretty good in the middle, also. Sales continued to flourish as insurers took advantage of sales-friendly conditions.

Overall annuity sales hit a new quarterly record of $119.3 billion in the third quarter, marking the eighth consecutive quarter of sales over $100 billion. LIMRA projects total sales to surpass $400 billion for the year.

Still, controversy persisted within the annuity world. Lawsuits were filed, charges made, and at least one significant annuity seller lingered on the market for most of the year before being sold.

All of these issues provided grist for our most-read annuity stories of 2025:

Annuities vs. the 4% Rule: Why income wins

Research published in the Journal of Retirement found that full or partial annuitization leads to better retirement income outcomes than the 4% rule. The research also found that those with smaller nest eggs benefit from annuitizing more of their income.

Researchers found that for anyone retiring with $250,000 or more in savings, a strategy of systematic withdrawals from more liquid investments or cash savings combined with annuities outperforms other strategies. This remained true whether the retiree bought an immediate annuity or had a strategy that included a gradual, laddered annuitization process.

The popular 4% rule is problematic, the researchers found. Although the 4% rule offers flexibility, withdrawing 4% of initial wealth, subsequently indexed to inflation each year, has significant failure rates for retirees at older ages.

Those retiring with less than $250,000 benefit most by annuitizing higher portions of their savings, if not all their savings.

Read more

Ex-employees sue Verizon over PRT deal

A group of ex-Verizon employees filed this lawsuit challenging the efficacy of insurance companies managing pension funds.

Filed in late December 2024 in the Southern District of New York, the Verizon pensioners claim the pension risk transfer deal agreed to in March 2024 threatens their retirement funds. Verizon inked the $5.9 billion PRT deal for Prudential Financial and Reinsurance Group of America to manage the pensions of 56,000 Verizon retirees and their beneficiaries.

Prudential and RGA agreed to “irrevocably guarantee and assume 50% of the benefit obligation to the retirees, except in certain jurisdictions where Prudential will irrevocably guarantee and assume 100% of the benefit obligation,” a news release said.

The transaction is the second major PRT deal between Prudential and Verizon. In 2012, Prudential completed an approximately $7.5 billion transfer that covered approximately 41,000 of Verizon’s retirees.

Neither Prudential or RGA is named as a defendant in the lawsuit. Instead, plaintiffs are suing Verizon, several Verizon groups connected with the pension plan, and State Street Global Advisors Trust Co. The lawsuit remains active.

Read more

F&G Annuities & Life lays off 192

In May, F&G Annuities & Life laid off 192 employees across both its home offices in Des Moines, Iowa, and remote functions.

The news came three weeks after F&G reported first-quarter earnings per share of $0.72, falling well short of analysts’ expectations. The EPS miss came despite a substantial increase in revenue: $2.18 billion against a forecast of $1.37 billion.

The company also reported a record $67.4 billion in assets under management, a 169% increase year-over-year. But the inconsistent results sent investors into sell mode and shares dropped about 12% overnight.

At that point, F&G shares were down nearly 35% in six months. The share price bounced back slightly over the summer before declining again.

Read more

Jury: split decision in Cutter annuity sales trial

In April, a Massachusetts jury delivered a split verdict against an advisor accused of making improper annuity sales.

The jury determined that Jeffrey Cutter and Cutter Financial Group did not violate Section 206(1) of the Investment Advisers Act of 1940, but did find violations of Section 206(2).

Section 206(2) bars advisors from engaging “in any transaction, practice or course of business which operates as a fraud or deceit upon any client or prospective client.”

Cutter and his legal team claimed victory in their long-running legal battle with the Securities and Exchange Commission.

“Today, the jury found what we have been saying for more than four years: that we did not intentionally or recklessly defraud any clients,” Cutter said in a news release.

That news release prompted a further request for sanctions from the SEC, which argued that Cutter did not take responsibility. The court case continues.

Read more

Brighthouse Financial execs evade sale rumors

Analysts made several attempts to get comments on sales rumors swirling around Brighthouse Financial in a sometimes-testy second-quarter earnings call in August.

“With respect to any market rumors, I don’t have any comments on that,” CEO Eric Steigerwalt said at one point.

The long-running sales drama ended in early November when Brighthouse confirmed that Aquarian Capital will acquire it in a $4.1 billion deal.

Aquarian Capital will acquire Brighthouse for $70 per common share in cash, a long-rumored transaction. Aquarian becomes the latest private equity/investment manager to take over a large-scale annuity seller.

Read more

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Private placement securities continue to offer insurers attractive opportunities to enhance portfolio income, according to a recent Conning report.

Conning’s latest Viewpoint commentary, “Private Placements: Aiming for Greater Yields, Downside Protection and Customized Cash Flows,” describes how private placement securities offer insurance companies opportunities for enhanced portfolio income with higher yields and stronger protections compared to public securities. These investment-grade securities provide flexibility in maturities and customized cash flows to better align with insurers’ liabilities, although liquidity considerations are important.

The Conning report said larger insurers often maintain significant exposure to private placements and have developed effective liquidity management strategies. Small- to mid-sized insurers, meanwhile, can benefit from working with experienced investment managers who understand liquidity requirements and have access to meaningful deal flow.

Benefits of private placement

The broad range of maturities available in private placements —often wider than what is offered in public debt markets – are another potential benefit as this flexibility allows insurers to better align maturities with liabilities. In addition, private placements can support portfolio diversification by providing exposure to both U.S. and non-domestic issuers that are generally absent from the U.S. public debt markets, Conning said.

The vast majority of private placement issuance is investment grade and tends to come from traditional groups such as industrials, financials and utilities, making the asset class more suitable to many insurers, the report said.

Issuers may turn to the private market for a variety of reasons, including a desire to avoid Securities and Exchange Commission registration. Marketing SEC-registered securities can slow an issuer’s time to market. Issuers may also prefer to keep details of their business private rather than release information as required in SEC registration.

A common misperception of private placements is that they mainly feature long maturities and they are assets better suited to the needs of life insurance companies than those with shorter-dated liabilities, Conning said.

However, the private placement market is very active in a wide variety of maturities, including shorter maturities. The range of available maturities is from 3 to 30 years in both bullets and amortizing structures. Insurers can often find specific maturities to match their unique liability needs (e.g., an eight-year maturity issuance for an eight-year liability).

Insurers with $20 billion or more in assets had slightly more than 25% of their total bond allocation in private placement securities as of year-end 2024, while insurers with between $10 billion and $20 billion had more than 20%.

While larger insurers may have the necessary resources and liquidity appetite to successfully invest in private placements directly, smaller insurers may find the help they need by working with an experienced asset manager.

Enhanced yield and portfolio income is driving trend

Jonathan Stanley is a director and portfolio manager at Conning and one of the authors of the report. He told InsuranceNewsNet that interest in private placement securities is largely driven by “the enhanced yield and portfolio income that you get from the asset class.

”I think generally all accounts, not just insurers, are looking at alternatives to the public space. So we’ve seen a lot of growth in private credit, and we’ve seen a lot of growth in private placements and other alternatives that are out there. Insurers, like most investors, are trying to not give up credit quality, but look to enhance yield and portfolio income.”

Stanley said he predicts the use of private placement securities by insurers will continue to grow.

“We’ve seen $92 billion in issuance through the end of October, compared with last year, which was a record year of $96 billion. So we will easily surpass that for this year. It’s that king of supply and demand equilibrium. As there is more demand for this, there will be supply to meet that demand.”

© Entire contents copyright 2025 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.

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Misconception may be half the battle when it comes to getting more of the insurance industry to embrace AI, according to Brian Carey, VP of Insurance Solutions Engineering and digital solutions provider Equisoft.

“One of the big challenges was getting over some of the misconceptions about AI, and really how you do that is you put the tool in people’s hands. Once we did this, we started a pilot program to roll it out and we got people interested,” Carey said in an interview with Insurance News Net.

Equisoft just recently announced a partnership with Anthropic’s Claude, one of the most popular AI tools alongside others such as OpenAI’s ChatGPT and Google’s Gemini.

Carey explained that a hands-on approach worked for them, where they started with focusing on initial use cases to show how AI could improve workflows then building traction from there. And now, AI has become an “indispensible” part of their entire global operations — whether it’s project managers, business analysts, developers or more.

“What we tried to do is focus on some initial use cases and gain traction because, yes, you can have people become literate in this technology, but you also have to get them to use it at the same time. That could be a challenge at some companies, or even with some people, because they may not know when it makes sense to use AI,” he said.

And the only way to make that connection, Carey added, is “to just get your hands on it.”

“If you don’t know how something works with AI, you ask it and it helps you. That’s really what we’ve been trying to do throughout this entire year is get people interested, get their hands on it, increase adoption, increase literacy and then start integrating it into our processes,” Carey noted.

Fully-incorporated AI

Equisoft fully adopted the Claude platform in September of last year, after the company had been searching for “a safe, secure and capable way for employees to learn AI, get their hands on it and make sure they’re adding value.”

“It’s become indispensable for us across our organization — and these are not just in our consultants in the company, but it’s any other type of horizontal function in the company. So, for example, in our marketing department, the team has gotten an opportunity to work on this. People in our finance department, maybe legal, whatever that might be, where are there opportunities for people to use this tool to help them?” Carey said.

He also said the company conducts surveys throughout the year on how staff are adjusting to AI, and the feedback has been “overwhelmingly positive for people.”

“The biggest thing that stands out to me is time saved. The amount of time that’s saving people to do work, maybe taking some of these repetitive tasks that they’re working on off the table so they can focus their mind on more strategic things. There’s certainly opportunities everywhere, and the list is growing on a daily basis,” he said.

Equisoft hasn’t just stopped there. They’ve also integrated Claude into the software they’re building for insurance clients, looking at what the AI opportunities are from an insurance standpoint and how it can allow them to focus on “things like underwriting claims, suitability, commissions, things that maybe historically have been long running or error-prone.”

Misconceptions and value

Despite what Carey describes as the huge potential of AI to improve workflows for insurance businesses, he acknowledged that misconception remains a significant hurdle to overcome.

“Definitely some of the biggest hurdles that we’ve had, and we still have, is getting over some of these misconceptions about AI. People think that the act of prompting the model is training the model. That’s not how it works, and there are so many little misconceptions that you have to get people over these hurdles before they can really jump into these tools and start benefiting from them,” he said.

To this end, he added that Equisoft has put “a fair amount” of effort into education this year. This includes having Anthropic come in and provide training to their staff to help proliferate the AI technology, address some of the most common misconceptions and build up basic prompting skills.

But on the other side of misconception and training is demonstrating how AI can provide value to insurance providers.

“A lot of insurance companies are still hesitant to release customer-facing AI. The jury’s not out; the technology’s there. The solution that we brought to market is really gonna be addressing this… But, I think, really for new technologies to take root, it’s showing value,” he said.

He used the example of NIGO processing, suggesting that if insurance companies can see how AI can help improve those workflows, it will also help them incorporate technology across internal processes.

“From an insurance standpoint, all the possibilities are there. The customer interest is growing and we’re seeing a lot of increased activity. I think it’s the carriers who need to get this technology in front of the agents and show them what problems are you solving with it and how is it making their lives easier,” Carey said.

Equisoft is a global provider of digital solutions in the life insurance and annuities space. It was founded in 1994 and is based out of Montreal, Quebec, Canada.

© Entire contents copyright 2025 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.

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A bid by disgraced financier Greg Lindberg to loosen the receivership controls over his business assets was rejected last week by the North Carolina Court of Appeals.

The ruling leaves in place stringent controls over Lindberg’s business entities and affirms a key receivership ruling. Lindberg’s challenge to an expanded restraining order was deemed procedurally abandoned.

Lindberg is assisting a special master to unwind his business entities in order to make victims whole. That includes hundreds of policyholders from the four insurance companies that Lindberg once controlled.

On June 27, 2019, Southland National Insurance Corp., Colorado Bankers Life Insurance Co., Bankers Life Insurance Co. and Southland National Reinsurance Corp. – all owned by Lindberg – were placed in rehabilitation by order of the Superior Court of Wake County, North Carolina.

Lindberg moved those insurers to North Carolina in 2014 and struck a deal with former insurance commissioner Wayne Goodwin, allowing him to invest up to 40% of his insurance company assets into affiliated companies. In other words, in other investments controlled by Lindberg.

After Goodwin lost his bid for reelection in November 2016, new Commissioner Mike Causey reduced the allowable cap on insurers’ affiliated investments to 10%.

As the deadline neared for Lindberg to meet the new order, regulators grew concerned that the insurers’ investment decisions could jeopardize the companies’ ability to meet obligations. In response, the parties agreed in May 2019 to negotiate a restructuring of the affiliated entities’ obligations.

On June 27, 2019, the parties entered into a memorandum of understanding under which Lindberg agreed to place certain special-purpose insurance companies — known as special purpose captive insurers, or SACs — under a new holding company governed by an independent board tasked with protecting policyholders.

In November 2024, Lindberg pleaded guilty to engineering a $2 billion fraud. Lindberg was convicted for a second time in May 2024 of trying to bribe Causey.

SACs formed by agreement

The agreement required the restructuring to be completed by Sept. 30, 2019, and expressly excluded non-SAC affiliated entities. Lindberg also agreed that the insurers would enter rehabilitation, giving regulators direct or indirect control over most of the SACs and authority to transfer them into the new holding company.

When the restructuring was not completed by the deadline, the insurers filed suit on Oct. 1, 2019, alleging breach of the memorandum of understanding and fraud. The plaintiffs sought specific performance of the agreement, as well as compensatory and punitive damages, and requested a temporary restraining order.

The trial court granted the restraining order, barring Lindberg and related parties from selling, encumbering, or otherwise devaluing the SACs. The order also applied to affiliated companies, citing the complex corporate structure through which Lindberg controlled capital flows, and restrained the defendants from dissipating personal assets, court documents say.

The parties later agreed to extend the restraining order and it remains in effect.

Following a bench trial held in June 2021, the trial court ruled in favor of the plaintiffs and ordered specific performance of the memorandum of understanding, but declined to award damages.

Frequent spending detailed

A North Carolina trial court tightened restrictions on entities tied to Lindberg in mid-2024 after finding repeated violations of the TRO.

On April 15, 2024, the rehabilitator, on behalf of the insurance companies, asked the court to modify the existing TRO and appoint a receiver, alleging that Lindberg-controlled entities had violated the order. That request was granted.

The court formally modified the TRO on May 10, expanding restrictions on Lindberg and any entities he directly or indirectly controlled. The revised order required court approval for transactions exceeding $10,000 and obligated defendants to give the receiver at least 72 hours’ notice before executing such transactions.

In a June 18 report, the receiver flagged several transactions that potentially violated the modified order, including a $633 million preferred-equity transfer, payments covering more than $500,000 in Lindberg’s personal expenses, and a payment exceeding $1 million to a non-insurance affiliate. Following a June 25 hearing, the court indicated it would further amend both the TRO and the receivership order.

Before the court issued those amendments, defendants sought approval for a $500,000 distribution from a trust to Lindberg’s company, Global Growth. The defendants then asked the court to grant the receiver broader authority to approve transfers of funding for Global Growth’s personal and business expenses.

Minutes after that request was filed on July 12, the court issued a re-modified TRO, citing prior violations. The new order lowered the transaction threshold requiring approval to $5,000 and extended the restriction to transfers involving Lindberg or Global Growth, even when funds originated from non-insurance affiliates.

The receiver later opposed the defendants’ request for expanded authority, citing “numerous flagrant and repeated violations” of court orders and asking the court to address ongoing noncompliance.

On July 29, the lower court denied the defendants’ motion, leaving the stricter restrictions and receivership provisions in place.

© Entire contents copyright 2025 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.

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On Dec. 15, Rep. Richard Neal, D-Mass., ranking member of the House Ways and Means Committee, introduced the Automatic IRA Act of 2025 to address concerns that many working people lack access to an employer-provided retirement plan.

Under the proposal, employers with at least 10 employees would be required to provide or arrange for access to an automatic retirement contribution plan for all full-time and long-term part-time employees. Workers would be automatically enrolled with the flexibility to opt out at any time.

Additionally, the bill includes provisions to help workers convert their savings into guaranteed income. Employers would be required to offer employees with at least $200,000 in vested savings the option to convert up to half their balance into a protected lifetime income solution, such as an annuity.

The legislation also recognizes the growing role of non-traditional, or “gig” work. It directs the Treasury secretary to, by regulation or other guidance, provide for making available automatic IRAs to individuals who provide services to the employer that do not constitute employment.

Many Americans today are lacking in both access to retirement savings and the amount saved for their retirement. According to LIMRA data, about half of American workers participate in a retirement plan. Additional research, however, shows the average of household savings in defined contribution plans/IRAs is $334,000, yet the median retirement savings was $87,000 among those with any savings.

Support for the Automatic IRA Act

Both the Insured Retirement Institute and the American Council of Life Insurers issued statements in support of the act.

“Far too many workers are left without the ability to save through their job, and this bill offers a smart, practical solution to close that gap,” said Wayne Chopus, president and CEO of the IRI. “By expanding access and strengthening savings tools, Congressman Neal’s legislation will help workers and retirees achieve a secure and dignified retirement.”

In a statement, the ACLI said, “the bill would dramatically increase enrollment in employer-sponsored retirement plans, expand access to lifetime income options through annuities, and improve retirement security for millions of Americans.”

If enacted, the ACLI estimates:

• 34.6 million workers would gain access to employer-based retirement plans.
• Up to 24.6 million workers would participate in these plans.
• Combined employer and employee contributions could total nearly $160 billion in additional defined contribution plan savings, based on current salary and contribution assumptions.

“Retirement security is foundational to economic dignity,” Chopus said. “Congress has the opportunity to give tens of millions of workers a chance to save and retire with confidence. We look forward to working with Congressman Neal and other congressional leaders to advance retirement security for more workers and retirees.”

“Through annuities — the only true lifetime income product in the marketplace — retirees can be assured they won’t outlive their savings. Representative Neal’s legislation offers practical, forward-looking solutions that will empower millions of workers to prepare for a long retirement,” said David Chavern, ACLI president and CEO.

For more information about the Automatic IRA Act, see this press release issued by Rep. Neal or this summary of the legislation.

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Millennials are facing an unprecedented financial squeeze: 58% of them feel as if they must choose between homeownership and retirement security, according to an Advisor Authority study, powered by the Nationwide Retirement Institute.

The survey pointed out that as housing prices accelerate ahead of median income wage growth, millennials face a fundamentally different financial environment from their parents,  resulting in their adopting different approaches to wealth building.

Millennials’ wealth-building approaches

Unlike prior generations, said Juan Jose Perez, president of Nationwide Corporate Solutions, millennials are struggling to build wealth through housing. Instead, they are turning toward contribution plans early in their retirement journeys.

“Half of millennial investors told us they have opened retirement accounts like 401(k)s or IRAs, and a quarter said they have opened brokerage accounts,” said Perez. “Additionally, 28% of millennials told us they plan to contribute more to their 401K or employer-sponsored defined contribution plan over the next year, with 23% saying they plan to contribute the maximum amount eligible for an employer match.”

Although they are navigating their prime earning years amid a volatile financial landscape, it’s great to see this generation tapping into the benefit of retirement accounts, Perez added. However, he pointed out, they can take that resourcefulness one step further by partnering with a trusted financial advisor who can help them build on those savings and prepare for major life events with confidence.

Home ownership seen as a challenge

The survey also noted that whereas previous generations used homeownership as a tool to build wealth, many millennials (investors ages 29-44) are struggling to afford housing and view it as a challenge to their retirement savings plan.

This struggle is creating a negative view of retirement attainability in general, the survey said. More than a third (35%) of millennials cited rising housing costs as the biggest obstacle to their retirement readiness, and 46% believe that mortgage or home equity loans pose the biggest threat to their achievement of a secure retirement.

In addition, the survey pointed out that the complexity of today’s financial landscape has driven many millennials to seek professional guidance at unprecedented levels. Of the 45% of Millennial investors who pay to work with an advisor or a financial professional, three-fourths (75%) of them began doing so in the last 12 months.

Takeaways for financial professionals

So, what are the survey’s main takeaways for financial professionals? Perez said that while the complexity of today’s financial landscape has driven millennials to seek professional guidance, more than half (55%) of them still aren’t working with an advisor or a financial professional. “This is an opportunity for advisors to connect with these investors to help them achieve both their short-term and long-term goals,” he said.

In addition, the survey revealed a critical gap between Millennial concerns and advisor perspectives, Perez explained. Advisors are taking a longer view when it comes to retirement challenges, with 82% saying that healthcare costs are a significant factor in millennials’ ability to retire. This is compared to only 13% of millennials who said the same thing.

Also, Perez said, more than a third of advisors (35%) said that the uncertain future of government support programs poses the most immediate challenge to clients’ retirement portfolios, compared to only 6% of millennials.

These findings suggest that millennials can benefit significantly from advisors’ long-term perspective on retirement planning risks, Perez pointed out. “It’s important that advisors ensure they are listening to millennials’ goals and addressing their concerns before offering solutions, regardless of whether those solutions are for immediate or longer-term life events,” he said.

Addressing millennials’ issues

The first – and most important – thing an advisor can do to help millennials address these issues is to listen to their retirement goals – both short-term and long-term, Perez said. “By understanding exactly what they are seeking out,” he added,” you can help them build a holistic financial plan that will ensure they are prepared for a secure retirement. If you’re not sure where to start, the Nationwide Retirement Institute offers resources to help advisors facilitate conversations with their millennial clients.”

Additionally, Perez said, one of the most interesting findings from Nationwide’s survey is that 61% of millennials are open to putting part of their portfolio in an annuity or another solution that provides guaranteed income. “This is a great insight for advisors who may not be thinking about introducing these solutions to younger investors like millennials,” Perez said. “Tapping into an annuity solution – one of the only investment products that provides guaranteed income for life – may give millennials confidence in their ability to retire and meet short-term goals, like purchasing a home.”

The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 510 advisors and financial professionals and 2,007 investors ages 18+ with investable assets (IA) of $10K+, August 19-September 2, 2025. Among the investors, there were 667 millennials (ages 29-44).

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In a political climate that has moved decidedly away from diversity, equity and inclusion efforts, Integrity Marketing Group is leaning into DEI.

A large-scale distributor of life and health insurance, and provider of wealth management solutions and retirement planning, Integrity employs about 6,000 employees. It was recently honored by Newsweek as one of the top workplaces in the country for DEI.

“As we strive to meet the holistic needs of consumers from all walks of life, we are equally committed to inclusion and social responsibility within our workforce,” said Bryan W. Adams, co-founder and CEO of Integrity, in a news release. “This award is a testament to the power of teamwork, community and shared values. Our team is strongest when we seek out and incorporate numerous viewpoints and backgrounds.”

Asked for more comment on Integrity’s commitment to DEI, Rachelle McReynolds, chief people and culture officer, shared more details of the company’s overall program.

“One of our core values is Respect, which has led to an inclusive culture that is genuinely interested in learning more about our colleagues and what matters to them personally,” she said via email. “For example, we host several culture-focused events, such as the largest corporate Diwali celebration in Dallas, to learn about the unique traditions of our team members.

“These experiences build camaraderie and understanding, forging a strong workplace culture that values the uniqueness each person brings.”

DEI sent to the back burner

The return of President Donald Trump, who immediately shuttered all DEI offices in the federal government, led to corporate America re-examining those programs as well. Major companies such as Walmart, Amazon, Meta, Toyota, American Airlines, Ford, Lowe’s, and Boeing announced the rollback of their DEI initiatives earlier in the year.

In the insurance world, several large firms — including American International Group (AIG), Aon plc, and Marsh & McLennan Companies — removed specific references to diversity from 2025 annual reports and replaced them with more neutral language such as “inclusion,” “wellbeing,” or “belonging,” Business Insurance Magazine reported.

In partnership with data analytics firm Plant-A Insights Group, Newsweek selected its recipients from more than 4.8 million company reviews and 300,000 employee interviews. The evaluation also included public data and insights from HR professionals into corporate culture and working conditions.

USI Insurance Services, a leader in risk management, employee benefits, and retirement plan consulting, was also recognized by Newsweek for its DEI efforts.

“At USI, fostering an inclusive culture where every one of our team members feels valued and supported is essential to driving innovation and delivering exceptional solutions for our clients and communities,” said Kim Van Orman, senior vice president and chief people officer for USI, in a news release.

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The Affordable Care Act cost cliff likely will hit as Americans ring in the New Year, now that the House of Representatives approved an alternative health care bill that does not include extending enhanced tax credits that are due to expire Dec. 31.

The bill includes policies that are popular among Republicans — including funds to pay for “cost-sharing reductions,” reforms to the pharmacy benefit manager industry, and an expansion of association health plans. But nothing in the bill addressed extending the enhanced tax credits that were part of the Inflation Reduction Act of 2022.

Wednesday’s 216-211 vote on the legislation all but guarantees the enhanced subsidies will expire, as the Senate is unlikely to take up the bill. Congress leaves Washington for its Christmas break on Friday.

The House vote came on the heels of a discharge petition filed by House Minority Leader Hakeem Jeffires that would force an up-or-down vote on extending the ACA enhanced tax credits. The petition was signed by 214 House Democrats as well as four moderate Republican congressmen.

Under House rules, a completed discharge petition is subject to a waiting period, meaning no vote could happen until next month — although the Speaker of the House could choose to move sooner.

The lack of action on addressing the enhanced tax credits means that 22 million ACA enrollees who receive premium assistance will see their out-of-pocket premiums increase by an average of 114%, or $1,016 per person, KFF reports.

Could a compromise come in January?

Republican moderates in the House are now discussing options with their Senate counterparts about a bipartisan compromise bill that could pass both chambers. The lawmakers involved in these talks said they hope to be able to produce a proposal before the next government funding deadline Jan. 30.

House Speaker Mike Johnson, R-La., told CNBC on Wednesday said he hopes to advance another reconciliation bill in the first quarter of the new year with more “revisions” to the health care system.

No deadline for extending ACA enhanced credits

While the enhanced ACA premium tax credits expire at the end of this year, there is no absolute drop-dead date for extending them. ACA enrollees would welcome premium relief whenever it comes, Larry Levitt, KFF executive vice president for health policy, said in a statement.

The ACA premium subsidies are refundable tax credits, which are calculated on an annual basis. Levitt said an extension could happen even after the deadline to sign up for coverage and be made retroactive to Jan. 1. Open enrollment could also be extended to allow people time to change their plans or allow new people to sign up. Enrollees could adjust their advance tax credits or receive a refund when they file their taxes.

“Logistically, state and federal ACA Marketplaces could adjust their systems quickly for a clean extension of the enhanced tax credits. That’s what happened in 2021, when the enhanced tax credits were created by legislation enacted in March. Any changes to the ACA tax credits mid-year would complicate the logistics and slow down the reopening of enrollment and the premium relief,” he said.

“While there is still time to extend the enhanced tax credits, with each passing day, more and more ACA Marketplace enrollees are going to drop their health insurance when faced with eye-popping increases in their premium payments.”

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