“Impatience” helps explain failure to save, researchers say
When it comes to saving for retirement, the ability to delay gratification seems to matter as much or more than the ability to understand investment concepts.
JP Morgan Hedges U.K. Workers’ Longevity Risk
If the life expectancy of its pensioners improves at a greater rate than specified in the contract, the Pall UK Pension Fund receives an insurance payout from JP Morgan.
GuidedChoice rolls out its participant income roadmap
"GuidedSpending was designed to replace the overly simplistic ‘4% rule’ approach long used by financial planners," said GuidedChoice in a release.
Fidelity to help participants move to income stage
Among other things, the Fidelity Income Strategy Evaluator illustrates the trade-offs of a variety of income-generating portfolios, which may include stocks, bonds, cash and/or annuities.
Gimme Shelter
The autobiography of Rolling Stones guitarist Keith Richards and the report of the Financial Crisis Inquiry Commission have a few things in common.
BMO ‘Lifetime Cash Flow’ Product Critiqued
Garth Bernard responds to last week's RIJ article on the Bank of Montreal's Lifetime Cash Flow product, saying the product has 'room for improvement.'
Poland’s pension makeover offers a cautionary tale
In the 1990s, Poland reformed its Social Security-type system and introduced personal accounts. Now they’ve got chaos.
Morningstar VA bulletin looks back at 2010, ahead to 2011
"More generous benefits" anticipated in 2011, according to Morningstar vice president Kevin Loffredi.
Annuity income drops at five of top 10 bank holding companies
Wells Fargo, Morgan Stanley, JPMorgan Chase and Bank of America led bank holding companies in annuity commission income through Sept. 30, 2010, combining for almost 60% of the...
Prudential updates ‘Highest Daily’ living benefit
Prudential is reducing the size of the roll-up guaranteed by its top-selling Highest Daily Lifetime variable annuity rider to 5% per year until the first withdrawal from 6% per...
SEC Staff Recommends Uniform Fiduciary Standard
All those who give “personalized investment advice about securities to retail customers” should put the clients' interest above their own, the SEC staff recommends.
New Income Solutions for Long Retirements
With the numbers of people over age 100 growing rapidly, there is an equally growing need for advisors to consider an array of retirement income solutions.
Most Investors Understand TDFs: Vanguard
But Vanguard's newly published survey also showed that only 62% of its DC plan participants who own TDFs have heard of a TDF, and only 24% know that the...
The 800-pound Irony of TDFs
The DoL wants TDF managers to disclose more information to plan participants. But the real problem may lie with plan fiduciaries, and current TDF designs.
2010 saw modest gains in global pension funding: Aon Hewitt
The analysis found that the funded status of global pension plans were 87% at the end of 2010, up slightly from 86% at the beginning of the year.
BNY Mellon study notes funding pressures on US retirement plans
A DC/DB hybrid plan may be the best solution for employers and employees if employer costs can be controlled, a study by the firm's Asset Servicing division found.
U.S. Treasury now owns AIG
“We continue to believe will realize a profit on their investment in AIG,” said Robert H. Benmosche, AIG president and CEO.
QE 1 & 2 boost stocks, not economy: TrimTabs
The S&P 500 rose 67% during QE1, the period from March 2009 to March 2010, but fell 13% after the first round of quantitative easing ended.
The Latest on TDFs (from Vanguard, ASPPA, SPARK, et al)
The DoL's January 14 deadline for comments on proposed new rules for target-date fund disclosures has produced a flurry of research, recommendations and opinion about TDFs.
BMO Offers Non-Insured Lifetime Income Product
The Bank of Montreal's Lifetime Cash Flow product pays out 6% of principal per year for life after a 10-year deferral period. After-tax principal is paid out tax-free for...
