Tom Johnson Joins New York Life
Johnson is a board member of the Profit Sharing/401(k) Council of America and the Retirement Income Industry Association and a trustee for the Employee Benefit Research Institute.
Phoenix Launches Two Indexed Annuities
The products offer three guaranteed income options, and investors can track the S&P 500 Index, the DJIA, the Dow Jones Euro Stoxx 50 Index or all three.
Fixed Annuity Sales Weakened in Third Quarter: Beacon Research
"We don't expect to see growth in sales until rates begin rising," said Jeremy Alexander, CEO of Beacon Research.
The Latest Chapter in the Indexed Annuity Saga
In Mooney vs. Allianz Life, the jury didn't award damages because the plaintiffs couldn't prove that they lost money on their investments in indexed annuities.
Re-Start Your Engines?
Strong insurers offering VA income riders with attractive roll-ups did very well in the third quarter, but sales for the category as a whole were flat.
Ethnicity Alone Doesn’t Predict 401(k) Behavior
Workers of Asian descent in the U.S. were more likely to be eligible to participate in a 401(k) plan, more likely to participate,
and likely to contribute more to...
RMD and Dangerous? Not Really.
The RMD must surely suffer when people discuss Roth IRA conversions, just as cavemen suffer when they see Geico commercials.
Merrill Lynch Has Answers for Roth IRA Questions
Merrill Lynch has given its financial advisors a “customized analysis tool” to help clients determine if a Roth IRA conversion is right for them.
Out-of-Pocket Medical Costs in Retirement: Part II
At the rate we're going, the cost of health care will eventually dwarf retirees’ ability to pay for it.
Sales of Indexed Annuities Cool in Third Quarter
“The big story this quarter is the shake-up in rankings among the indexed annuity carriers," said Sheryl J. Moore, President and CEO of AnnuitySpecs.com.
Reputation of ‘Alternatives’ Survives the Crash
More than 60% of institutions and advisors believe alternatives will at least equal traditional investments in importance over the next five years.
Three Liquidity Options in New SPIA from Security Mutual Life
The contract owner may withdraw up to 50% of the next 12 months' payments at least once during the life of the contract.
Income-Oriented Advisors Seek Validation: Survey
“The market now seems divided among total return, pooled and income floor practitioners with none of these approaches appearing to dominate," say Howard Schneider and Dennis Gallant.
Fidelity Outsources GWB Production to MetLife
The living benefit guarantees became too expensive for FILI, Fidelity's life insurer, to underwrite cost-effectively.
Old-Age Poverty Higher in U.S. Than Most Developed Countries
About one-fourth of over-65-year-olds in America have incomes lower than half the U.S. median household income, a report by the
Organization for Economic Co-operation and Development said.
With Stocks, the “Enemy Is Us”
Investor sentiment leads rather than follows the market, two economists say. And that may make stocks fundamentally risky.
With New Accounting Standard, AIG Remains Profitable
The $455 million profit in the third quarter compared with a loss of $24.5 billion for the same period in 2008. AIG is 80% owned by the U.S. government.
Prudential To Launch TV Ad Campaign
In other news, Prudential said gross variable annuity sales for the third quarter reached a record $5.8 billion, compared to $2.5 billion a year ago. Net sales were $4.4...
