Amy Resnick

New York

Chief Information Officer at Plan Sponsor

Financial Journalist at Freelance

Financial journalist. Fixed income/public policy nerd. Supporter of women in journalism, finance, life. Opinions are my own. RTs not endorsements.

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Articles

Resources for Preventing and Reporting Financial Fraud

1 week ago | plansponsor.com | Amy Resnick

In 2023, the Federal Trade Commission reported nationwide financial fraud losses topped $10 billion, up 14% from the prior year; while the number of fraud reports was relatively unchanged, meaning losses per incident are rising. Within the category of financial fraud, consumers reported losing more money to investment scams—more than $4.6 billion—than any other category in 2023; up 21% over 2022.
Chubb Promotes CIO Tim Boroughs to Head of Asset Management

1 week ago | ai-cio.com | Amy Resnick

After 25 years as CIO of insurance company Chubb Group, Tim Boroughs is leaving his post to take on the roles of vice chairman of the Chubb Group and executive chairman of asset management. Deputy CIO Chris Hogan is being promoted to succeed Boroughs to oversee the investments of the firm's more than $246 billion in assets under management. Prior to joining Chubb in 2000, Boroughs was director of fixed income at Tudor Investment from 1997 to 2000.
Strategic Investment Group Names New Heads of Investment, Private Markets

1 week ago | ai-cio.com | Amy Resnick

Outsourced CIO provider Strategic Investment Group has named Brendan Burke managing director of investments and Kevin Killeavy head of private markets. andAccording to the firm's announcement, Burke will provide pension management and analytic skills for client relationships and contribute to its public markets and opportunistic investment teams.
2nd Circuit Vacates PBGC's Denial of SFA Funds for NYC Pension

1 week ago | ai-cio.com | Amy Resnick

The U.S. 2nd Circuit Court of Appeals reversed a district court's ruling that upheld the Pension Benefit Guaranty Corporation's refusal to provide financial assistance to a pension fund solely because the plan had been terminated. A three-judge panel vacated the denial and ordered the district court to instead rule in favor of the pension fund and require the PBGC to reconsider the New York City-based pension's application.
Can 403(b) Plan Annuities Be Mapped to Replacement Funds?

1 week ago | plansponsor.com | Amy Resnick

Q: We are a 403(b) plan sponsor attempting to streamline our investment lineup, but our investment provider claims that their fixed and variable annuities cannot be mapped to replacement funds. Is this correct? Kimberly Boberg, Kelly Geloneck, Emily Gerard and David Levine, with Groom Law Group, and Michael A. Webb, senior financial adviser at CAPTRUST, answer:A: This is likely accurate, but you should review the annuity contracts in question to confirm.
Rethinking Retirement

1 week ago | plansponsor.com | Amy Resnick

How often have you heard someone say they are not saving for retirement because they can’t afford to risk locking up their money for the long term? What if they had more financial flexibility when unexpected expenses arise? A provision within the SECURE 2.0 Act of 2022 offers an opportunity to add this near-term financial flexibility to retirement savings.
HESTA Dumps Mining Company Mineral Resources Stake due to Governance, Ethics Concerns

2 weeks ago | ai-cio.com | Amy Resnick

Australian superannuation fund HESTA has sold its remaining shares in Mineral Resources Ltd. over concerns the Australian mining company is not properly addressing governance issues.
Is the IRS’ Self-Correction Program Available to Governmental Plans?

2 weeks ago | plansponsor.com | Amy Resnick

Q: May governmental plans self-correct plan defects under the Self-Correction Program (SCP) as part of the IRS’ EPCRS program? Kimberly Boberg, Kelly Geloneck, Emily Gerard and David Levine, with Groom Law Group, and Michael A. Webb, senior financial adviser at CAPTRUST, answer:A: Though governmental 457(b) plans are not explicitly excluded from self-correction under EPCRS, practically, such program would generally not be needed by such plans.
Dementia’s Financial Toll: How Losses Can Often Predate the Diagnosis

2 weeks ago | plansponsor.com | Amy Resnick

Editor’s note: The name of the caregiver in this article, Angela, was changed to protect her privacy and her family’s. When Angela looks back at the financial costs imposed by her mother’s dementia, the expenses that spring to mind most readily are the ones that came after the diagnosis. That was when Angela and her family began paying for experimental treatments out of pocket while undergoing a grueling travel schedule. “There were so many appointments, questions, practitioners,” she recalls.
Australia's Future Fund Makes Leadership Appointments

3 weeks ago | ai-cio.com | Amy Resnick

Australia's Future Fund has made three leadership appointments, filling the roles of chief financial and chief risk officer; chief people, culture and inclusion officer; and general counsel. Nancy Collins is joining the Future Fund Management Agency as CFO and chief risk officer, coming from Swinburne University of Technology, where she has served as chief operating officer since December 2019. Collins previously held senior roles at Burra Foods, Bega Cheese and Tatura Milk Industries.