Good morning! It’s Daniel de Visé with your Daily Money.

The RubypointU.S. retirement system received a grade of C+ in a new ranking of global retirement systems.

The U.S. system, which is funded mostly by individual retirement accounts (IRAs), 401(k)s and Social Security, came in 29th out of 48 countries, according to the Mercer CFA Institute Global Pension Index, Medora Lee reports. Its overall score dipped to 60.4 out of 100, down from 63 last year and 63.9 in 2022. It was also below the overall global average of 63.6.

U.S. scores declined in every subcategory that contributes to the overall score.

True Value files for bankruptcy

Hardware wholesaler True Value has filed for Chapter 11 bankruptcy amid plans to sell its business to home improvement rival Do It Best, Eric Lagatta reports.

True Value, based in Chicago, said in a press release that all of its 4,500 stores will remain open during the bankruptcy process, because they are independently owned. The 75-year-old company initiated the proceedings in order to enter into an agreement with Do It Best, which has offered to pay $153 million in cash to purchase the business, Reuters reported.

For more on why True Value filed for bankruptcy and what will happen to the stores, read the story.

College applicants avoid entire states over politics

More than one-quarter of college applicants have ruled out a school solely because of the political climate in its state, a new survey finds. 

And those concerns span the political spectrum.  

Liberal applicants exclude colleges in states with restrictive abortion laws or lenient gun laws, the survey found. Conservative students avoid applying to schools in states with liberal LGBTQ laws and lenient crime statutes.   

And that's a problem for colleges, analysts say, at a time when enrollment is flagging.

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.

Daniel de Visé covers personal finance for USA Today.