A Brave New Deregulated 401(k) World
'There are three factors that we think are converging and are likely to help move the needle” in terms of expanding plan adoption by small employers, said Ben Norquist,...
Anecdotal Evidence
Sneak Preview of New Book on Behavioral Finance
In a chapter of a forthcoming book, four Ivy League academics discuss the possible reasons why so few people buy life annuities. I add a few theories of my...
The ‘Institutionalization’ of the 401(k)
The defined contribution retirement system may be about to become less employer-driven and more industry-driven. RIJ talks about it with DCIIA president and CEO Lew Minsky.
Border Turmoil and Social Security Solvency
'The inflows of migrant workers compensate the falling birth rate in our country, which is the gravest threat to the sustainability of our pension system,” an Italian official said...
My Encounter with CFPs Who Like Annuities
It seems self-evident that advisors who have insurance somewhere in their DNA—who sold insurance early in their careers—will be much more receptive to selling annuities later in life.
JENGA as a Financial Metaphor
Playing JENGA and watching the interest rate yield curve flatten involve similar degrees of suspense.
How Much Retooling Does the 401(k) Need?
At the ERISA Advisory Council's meeting this week and at an EBRI webinar, proposals to inject lifetime income elements into 401(k) plans were debated and evaluated.
Introducing the ‘Alliance for Lifetime Income’
Two dozen major life insurers and asset managers have formed a non-profit to educate the public about the benefits of lifetime income products. That's never been done before, they...
SEC Had to Fudge the Definition of ‘Best Interest’
Unlike the DOL, the SEC doesn't need to score to win this game. It can afford to punt.
How Not to Sell an Indexed Annuity
Five financial professionals commented on our April 5 story about my neighbor's encounter with an advisor who recommended an indexed annuity for lifetime income. She should 'run like hell,'...
Little Love for SEC ‘Best Interest’ Proposal
Having kicked the fiduciary can for two decades, the SEC has finally done something. But it didn't seem to do much--or, more importantly, enough--to define the phrase "best interest."
Hold the Parade
Annuity industry advocates say that this week's Fifth District Court of Appeals ruling has nullified the DOL fiduciary rule. Others disagree. I question Judge Jones' understanding of how the...
