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Understanding Financial Institutions: Insurance, Investment, and Pension Funds

Explore the world of financial institutions in Chapters 7, 8, and 9, covering insurance, investment companies, and pension funds. Learn about different types of insurance, investment products, mutual funds, IRAs, and pension fund structures.

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Understanding Financial Institutions: Insurance, Investment, and Pension Funds

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  1. Chapters 7, 8, and 9 - Institutions • Chapter 7 – Insurance Companies • Types of Insurance – Risk Transfer • Life • Term, Whole Life, Universal • Health • Medical, Dental, Disability and Long-term Care • Property and Casualty • Auto • House • Business • Investment Products • Annuities and GICs

  2. Chapters 7, 8, and 9 - Institutions • Chapter 8 – Investment Companies • Opened Mutual Funds • Load and No-Load • Stocks, Bonds, Indexes, Blends, etc. • Closed-End Mutual Funds • Limited number of shares • Large Growth in 90s • IRAs, 401(k)s, 403(b)s, etc. • Household shift from real estate to financial assets

  3. Chapters 7, 8, and 9 - Institutions • Chapter 9 – Pension Funds (Foundations) • Defined Benefit versus Defined Contribution • Dollars defined at time of contribution and individual directs management of funds • Dollars defined at time of retirement and “company” directs management of funds • Social Security – Largest Pension Fund • PERS – Most Complicated Pension Fund • ERISA – 1974 • Minimum funding standards, fiduciary standards, vesting standards, and PBGC (insurance)

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