Americans are so worried about Social Security running out of money, they are giving up their full retirement benefits. Only 10% of non-retired Americans plan on waiting until they’re 70 years old to receive the maximum payment from the government, according to the 2023 Schroders U.S. Retirement Survey. This includes...
The state of Massachusetts is concerned about what it calls a growing and potentially unchecked use of artificial intelligence in the securities industry. On Wednesday, Secretary of the Commonwealth William Galvin announced that his securities division would launch an investigation into how firms are using AI to engage with Massachusetts...
Morgan Stanley is selling Gradifi Solutions, a student loan benefits provider, to workplace savings fintech Vestwell. ETrade Financial acquired Gradifi from First Republic Bank for $30 million in 2019, less than three months before Morgan Stanley bought ETrade for $13 billion. Terms of the transaction to Vestwell were not disclosed,...
President Joe Biden has nominated former Maryland Gov. Martin O’Malley as the next commissioner of the Social Security Administration. The agency is responsible for distributing Social Security to more than 70 million beneficiaries and commands a $1 trillion budget, according to Reuters, which reported O’Malley’s selection Wednesday. It has been...