What You Need to Know
- The U.S. Office of Government Ethics form is intended to prevent conflicts of interest in the executive branch.
- The form gives general descriptions of the holdings of both the official and the official's spouse.
- The president has a TIAA-CREF Lifecycle Index fund inside a University of Pennsylvania retirement plan.
President Joe Biden and his wife, Jill, have personal experience with owning a wide range of retirement savings arrangements, including variable annuities.
The Bidens provide a snapshot of that exposure in their latest U.S. Office of Government Ethics Form 278 filing.
Presidents and other top federal officials post Form 278 financial disclosure reports in an effort to prevent conflicts of interest. The reports also can give curious financial professionals a rough idea of how top federal officials manage their assets.
The new report shows that the Bidens’ current holdings are similar to the holdings they disclosed a year ago.
Joe Biden, who is 79, has been the president of CeltiCapri, his own S-corporation, since February 2017, when he left his post as former President Barack Obama’s vice president.