Honorable Mention
Annuity sales will rebound in 2021: Secure Retirement Institute; ‘Income-oriented’ models are a growth category: Cerulli; Equitable and Venerable close transaction.
Honorable Mention
Honorable Mention
Strength helps insurers withstand volatility: AM Best; T. Rowe Price announces fund fee reductions and a new TDF series; $13 million settlement in high-fee suit against Columbia's 403(b) plan;...
Honorable Mention
Under proposed bill, non-profits could join PEPs; NY ruling on Reg 187 could help life sales: AM Best; Jason Fichtner named chief economist at Bipartisan Policy Center; John Thiel...
Fidelity’s average 401(k) balance: $123,900
The average 401(k) employer contribution rate was 4.6%, and the average contribution was $1,720. Among 403(b) accounts, the average employer contribution was 4.1% and the average amount was $3,000.
Honorable Mention
SPCG, a new consulting group, focuses on structured products; MassMutual and Arconic Corp in $1 billion pension risk transfer deal; ‘Jackson Financial’ appoints new directors; Allianz adds 'auto lock'...
Honorable Mention
MassMutual inks $200m deal with venture fund; Chip Castille’s fintech startup gets $2.75m infusion; Silvur has a financial wellness app; New York Life to aid low-income communities.
Honorable Mention
Pentegra launches Pooled Employer Plan; Betterment’s AUM rises to $29 billion; Symetra creates its own RIA; Ubiquity adds ESG options to 401(k) investment lineup.
Honorable Mention
Edward Jones pays $34 million to settle suit by minority advisors; J.P. Morgan to diversify advisor hiring by 2025; HUB launches bundled retirement plan for small to mid-sized employers;...
Honorable Mention
Canadian firm buys Ohio National for $1 billion; Net income of life/annuity industry fell almost 50% in 2020; New index annuity income rider from AIG; SIMON adds First Trust...
Honorable Mention
Retirement assets total $34.9 trillion in 4Q2020: ICI; Jasmine Jirele succeeds Walter White as CEO of Allianz Life; NY Life reports 2020 annuity sales of $13.7 billion; Several C-level...
Honorable Mention
Biden DOL won't enforce Trump's anti-ESG rule; PEP rally: TAG Advisors launches Pooled Employer Plan; Net income for life/annuity industry fell 55% in first three-quarters of 2020: AM Best;...
Reaching HNW clients in the pandemic era: Cerulli
'Many asset managers have shifted to a channel-agnostic approach distribution model from a channel-specific model,' said Cerulli analyst Asher Cheses.
Honorable Mention
SEC suspends trading of securities hyped in social media; Mutual of Omaha aims to get ‘Retirement Right’; Americans feel more financial damage from pandemic than in 2008: Allianz Life;...
Honorable Mention
Pacific Life offers an investment-only VA; Wells Fargo will sell its asset management business; Philips, MetLife and Principal Financial seal $1.2 bn pension risk transfer deal; Security Benefit receives...
Honorable Mention
Women are skeptical of advisers: Cerulli; Equitable announces $1 billion share buyback.
Honorable Mention
Pacific Life to distribute two fee-based annuities; NARSSA sets up platform to support accredited Social Security experts; PGIM Investments announces over $21 billion in net fund flows for 2020;...
Nationwide, Annexus partner on in-plan annuity
Nationwide announced last October that it would release a series of five new products for the 401(k) market. Today it announced Lifetime Income Builder, a fixed indexed annuity with...
Honorable Mention
Life sales show new life in 2020, MIB Index shows; 'Excessive fee' lawsuit against Penn's 403(b) plan settles for $13 million; Metro-area businesses are expected to recover from Covid-related...
Honorable Mention
Annuity distribution expert Scott Stolz joins SIMON; TIAA private equity affiliate raises $6.4 billion in new capital; MetLife unit in longevity reinsurance deals with Legal & General; Thrivent promotes...
Honorable Mention
Reports of reinsurance and other deals involving Empower, MassMutual, Ares Management, Unum, Global Atlantic, New York Life, Cigna, and Voya, with other news.
