RSS 2.0 FeedIndustry Views
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 6, 2011, Featured Articles, 401(k)/IRA, Company/Trade Group News
United Technologies Adopts In-Plan Annuity
After overhauling its huge retirement plans, this Fortune 50 firm selected AllianceBernstein's stand-alone living benefit as its in-plan 401(k) income option. AXA Equitable, Nationwide, and Lincoln Financial were expected to support the lifetime guarantee.
The retirement industry has been waiting for a Fortune 100 company to set an example and add an in-plan income option to its 401(k) plan. Now one has.
United Technologies Corp., the Hartford, Conn.-based global conglomerate that builds Pratt & Whitney aircraft engines, Sikorsky helicopters and Otis elevators, has added an “unbundled” version of AllianceBernstein’s Secure Retirement Strategies program to its $15 billion, 102,000-participant defined contribution plans.
The deal is significant on several levels, Fortier noted. It marks the first adoption of the in-plan lifetime withdrawal benefit by a major non-insurance corporation; it marks the introduction of personalized glide paths in target date funds; it gives each insurer the flexibility to adjust prices based on changing market and interest rate conditions; it gives a large company—one that has already fought ERISA class-action suits in court—the fiduciary protections that a large plan with huge potential exposures must have.
We look forward to sharing this valuable article with you! Subscribers may Log In below.
- Not a member? Register now to become a subscriber to Retirement Income Journal. Register Now
- Or, start your 30-day FREE TRIAL: See offer for FREE TRIAL
- purchase this single article for personal use only for a fee of $15.00.
For group discounts, licensing, and reprints, contact kerry.pechter@retirementincomejournal.com.
Forget your subscriber password? It's easy to reset here: Reset your password.
