Philip Chao interviewed by Pension & Investments – Acquisition moves Empower closer to its ultimate goal

Philip Chao shares his thought about the recordkeeping industry and, more specifically, using Empower’s recent announcement of buying Mass Mutual retirement business. Read the P&I article here.


ECB Press Release September 10, 2020 - What Has Changed?

No Change The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.50%...


Philip Chao Viewpoints Published in Iris.xyz – The Fed is Codifying Lower for Much, Much Longer

Moving from “ex ante” to “ex post” In the annual end of summer economic policy symposium sponsored by the Federal Reserve Bank of Kansas City (virtual for 2020), the theme this year was...


DOL Interim Final Rule: Pension Benefit Statements - Lifetime Income Illustrations

The Department of Labor’s Employee Benefits Security Administration (EBSA) announced an interim final rule (IFR) for administrators of defined contribution retirement plans, such as 401(k) plans....


FOMC, July 29, 2020, Press Release - What Has Changed?

Summary Economic activity and employment have picked up somewhat but remain well below their levels at the beginning of the year. (Change) Weaker demand and significantly lower oil prices are...


ECB Press Release July 16, 2020 - What Has Changed?

Summary The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.50%...


FOMC, June 10, 2020, Press Release - What Has Changed?

Summary The coronavirus outbreak is causing tremendous human and economic hardship (No Change) The virus and the measures taken to protect public health have induced sharp declines in economic...


ECB Press Release June 4, 2020 - What Has Changed?

The pandemic emergency purchase programme (PEPP) will be increased by €600 billion, to a total of €1,350 billion. (new) The PEPP expansion will further ease the general monetary policy stance,...


ECB Press Conference April 30, 2020 - What Has Changed?

COVID-19 changed everything and ECB, under Madame Legarde, is using the same “whatever it takes” policy to stabilize the European financial markets and to make sure the financial system functions...