Putnam Lowers Fees on Absolute Return Funds
The new total expense caps, which limit recurring costs such as management and service fees, were implemented retroactive to November 1, 2010, to align with the beginning of the...
EBSA Proposes Broader Fiduciary Definition for Plan Advisors
The proposed rule defines certain advisers as plan fiduciaries even if they do not provide advice “on a regular basis” to an employee benefit plan or to plan participants,...
‘Stretching’ the Match Raises Contribution Rates
Plan participants contributed more when their employer matched 25% of up to 8% of pay than when their employer matched 50% of 4% or 100% of 5%.
Hungary Nationalizes Personal DC Account Assets
“This is effectively a nationalisation of private pension funds. It’s the nightmare scenario,” said Dávid Németh, an economist at ING in Budapest.
Despite reform, retirees face steep health care costs
Some prior estimates have been significantly revised downward as a result of changes to Medicare Part D (prescription drug) cost sharing that will be phased in by 2020 due...
Who Is the Typical SPIA Buyer?
The average age at purchase for an immediate annuity is 73. The average immediate annuity premium was just over $107,000.
The Point Person for ‘Secure Retirement Strategies’
Mark N. Fortier, CFA, head of Product and Partner Strategy at AllianceBernstein, has led a team that spent much of the past three years building a multi-insurer platform to...
Four Firms Capture Half of VA Sales
At the same time, a dozen large insurance companies saw their VA sales drop by double-digit percentages from the second to the third quarter of 2010, according to Morningstar...
Decumulation Beat
Only advisors who are self-employed have the autonomy to use the fiduciary standard when working with clients.
Average Dutch Retirement Age Stays Level
The current minority government has agreed to increase the official retirement age to 66 in 2020, but has not yet passed any legislation.
Health Benefit Costs Grow 3X Faster than CPI
The prevalence of retiree medical plans slid to its lowest point ever in 2010, with just 25% of large employers offering an ongoing plan to retirees under age 65.
Balances of “Consistent” 401(k) Participants Up 32% in 2009
But about one in five of over 20 million participants had loans outstanding at the end of 2009, up from 18% at both year-end 2008 and year-end 2007.
Low Rates Squeeze Fixed Annuity Issuers
“The current interest rate environment poses a challenge for issuers of these annuities because it pressures profitability," said Beacon Research president and CEO Jeremy Alexander.
Quote of the Week
"People tend to overestimate the utility of money and underestimate the utility of not being surprised by financial problems or not having to worry about money.” -- Steven A....
American Funds Is the Top Brand in Large Cap Funds
Virtually all advisors who use mutual funds include large-cap growth or value funds in their lineup; 39% use large-cap American Funds product for the growth portion and 31% for...
UK’s National DC Plan Considers Investment Options
“We won't be investing in a single infrastructure fund, though, or a single commodities fund, or a single high-yield fund until we get bigger,” said Mark Fawcett, CEO of...
75-Year Financing Plan Would Stabilize Social Security: NASI
Covering the projected long-term shortfall facing Social Security would require revenue increases equal to slightly more than 2% of taxable payroll over the next 75 years, according to the...
An Alternative Deficit Reduction Plan
Similar to the Bowles-Simpson proposals, the Rivlin-Domenici plan would lower income tax rates while eliminating most deductions and credits. It would replace the home mortgage and charitable contribution deductions...
Millionaires Haven’t Abandoned the Equities Market
92% of millionaires have not abandoned the stock market, with 43% currently engaged in moderate to heavy buying or selling and 49% waiting for the right opportunity to buy...
