David C. Fischer
Since September 2013, Dave has focused primarily on ideas to improve defined contribution retirement plans in the U.S. Studying all the calls for reform and collaborating with thought leaders around the country, Dave has been developing a common platform defined contribution system, The Common k. This new way for retirement plans will achieve broader access to retirement plans by American workers, higher contribution rates, lower costs, improved investment performance, easier participant choice, higher investment balance accumulations, no load and super low cost annuity options at retirement, with ability to pool longevity risks by retirees. The Common k will be either the establishment of a new company or the partnership with an existing firm seeking to achieve the public policy objective of improved retirement outcomes.
Dave served as the Chief Investment Officer of Reinsurance Group of America from 2007-2013. By 2012, the investment function provided roughly half of the company’s pretax profits-- approximately $450 Million in that year. RGA’s investment portfolio by 2012 was the largest profit generator and return-on-risk-capital segment for the $40 Billion in assets reinsurer. Dave is proud that his team had some of the best investment performance in the insurance industry during the Financial Crisis of 2007-09. During his tenure, Dave grew capabilities to enable RGA’s invested assets to grow from $8 Billion to $32 Billion. Dave’s leadership was crucial in the necessary build-out to achieve this growth as RGA moved increasingly to investment-oriented products during this time.
Key accomplishments at RGA included the creation of an internal global bond capability with offices in St. Louis and London, the creation of a 25 person internal real estate investment team, the hiring of ten specialty asset class managers, and the staffing for and creation of a $500 Million Alternative Asset portfolio.