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Burton Malkiel Talks About Efficient Markets
In this video sponsored by Vanguard, Burton Malkiel, Princeton professor and author of "A Random Walk Down Wall Street," talks with RIJ editor Kerry Pechter about what "efficient market" means to him. The 10th edition of "A Random Walk" has just been published.
Industry Views are special reports that are sponsored and independent from RIJ's editorial content.
October 20, 2011, Featured Articles, Annuities, 401(k)/IRA, Company/Trade Group News
It’s Back: The Hartford’s In-Plan Income Annuity
With United Technologies' recent adoption of an in-plan annuity, it now appears more likely that guaranteed income will eventually become commonplace in the defined contribution space. The Hartford, after a false start, has jumped back in that game.
The Hartford has introduced a new version of its Hartford Lifetime Income (HLI), a deferred income annuity option for defined contribution plan participants that was first introduced before the 2008-2009 financial crisis but wasn’t adopted by any plans.
The product allows participants to buy $10 increments of retirement income, with the cost of each increment dependent on the age of the participant and prevailing interest rates at the time of purchase. The contributions go into Hartford’s general account.
As for the timing of the reintroduction, “Recordkeepers are more interested in income. We’re seeing income options requested more frequently in RFPs (requests for proposals) and income is showing up more often in our conversations with clients,” said Pat Harris, The Hartford actuary who designed the product.
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