Welcome! It’s Daniel de Visé here with your Daily Money report.

The retirement system in the U.S. was assigned a C+ in a recent evaluation of retirement systems worldwide.

According to the Mercer CFA Institute Global Pension Index, which Medora Lee reports on, the U.S. system—which primarily relies on individual retirement accounts (IRAs), 401(k) plans, and Social Security—was ranked 29th out of 48 nations. Its total score fell to 60.4 out of 100, a decrease from 63 last year and 63.9 in 2022. This score is also lower than the global average, which stands at 63.6.

Scores for the U.S. dropped in all categories that affect the overall score.

True Value Files for Bankruptcy

True Value, a hardware wholesaler, has initiated Chapter 11 bankruptcy proceedings as it plans to sell to its competitor, Do It Best, as reported by Eric Lagatta.

The Chicago-based company announced that all 4,500 of its stores will continue to operate throughout the bankruptcy process since each store is independently owned. This 75-year-old company began the bankruptcy process to finalize an agreement with Do It Best, which plans to buy the company for $153 million in cash, according to Reuters.

For further details on True Value’s bankruptcy and the future of its stores, check out the full story.

College Applicants Avoid States Due to Politics

A recent survey reveals that over a quarter of college applicants have decided against applying to certain colleges due to the political environment in those states.

Political concerns vary widely among applicants.

Liberal students tend to reject schools in states with strict abortion regulations or lenient gun laws, while conservative candidates avoid colleges in states with progressive LGBTQ rights or lax crime laws, according to the survey.

This trend poses a challenge for colleges, analysts assert, especially as enrollment numbers decline.

About The Daily Money

Every weekday, The Daily Money provides the latest consumer and financial news from YSL News, simplifying complex topics, summarizing key points, and detailing how aspects like changes in Federal Reserve rates and bankruptcies affect you.