The Republican lawsuit targets reinsurance that helps insurance companies provide universal coverage without accounting for pre-existing conditions.
The LIMRA LOMA Secure Retirement Institute announced its board has unanimously elected David Levenson to be the first board chairman and Kent Callahan as vice chair.
"We are delighted to have two such respected industry leaders guiding the LIMRA LOMA Secure Retirement Institute," said Robert A. Kerzner, president and CEO, LIMRA, LOMA, and LL Global. "With expectations and realities of retirement changing, there is a need for an informed discussion about the needs and issues that influence retirement. The knowledge and experience David and Kent bring will be critical as the LIMRA LOMA Secure Retirement Institute examines what a secure retirement means today, what it will mean in the future and how our industry will adjust to meet the changing needs of Americans and help them reach their financial goals throughout their lives."
David Levenson is a principal at the financial-services firm Edward Jones, overseeing retirement, banking, insurance and trust services. Before joining Edward Jones in 2012, Levenson was president of the wealth management division for The Hartford with responsibility for the firm's individual annuity, individual life, mutual fund and retirement plan businesses.
Kent G. Callahan is a member of the Transamerica U.S. Management Board and serves as president and CEO of the Employer Solutions & Pension (ES&P) division. The division includes Transamerica Retirement Solutions, the organization's $122.4 billion U.S. retirement business; Transamerica Stable Value Solutions, a $59.3 billion synthetic GIC business; Clark Consulting Inc. and Transamerica's BOLI service center. Callahan has 30 years of experience in the financial services industry, including 25 years with Aegon/Transamerica.
The Board adopted governance rules during its second board meeting held in Chicago earlier this month, establishing a one-year term for each officer and offering direction to the retirement research and educational programs for LIMRA LOMA SRI.
"The LIMRA LOMA Secure Retirement Institute is a much-needed coalition of the top retirement companies in the U.S. all focused on a common goal - to educate Americans about the need to save and prepare for their retirement," noted Levenson. "I'm honored to serve as the chair of the LIMRA LOMA Secure Retirement Institute."