Retirement plans cope better this year than in 2008-2009; Public pensions have shown “great resiliency” this year: Milliman; SPARK Institute elects new chair and vice-chair; TruChoice to distribute Jackson...
A List of Joe Biden’s Tax-related Campaign Proposals: Crowe
'Even if major tax legislation is unlikely, the executive branch has regulatory tools at its disposal to impact tax policies,' said Gary Fox, managing partner of tax services at Crowe....
Honorable Mention
Aon PEP (pooled employer plan) opens in January; Life/annuity industry suffered sharp drop in net income in first nine months of 2020: AM Best; Morningstar to integrate ESG factors...
Retirement Clearinghouse receives investment from billionaire John C. Malone
Malone, chairman of Liberty Media, says that RCH majority owner Robert L. Johnson, founder of Black Entertainment Television, convinced him of the importance of reducing leakage from qualified plans....
Are Target Date Funds the Perfect Vehicle for ‘In-Plan’ Annuities?
'Nearly two-thirds (63%) of target-date managers suggest the first-quarter 2020 period of heightened market volatility will increase client demand for guaranteed investments,' according to a Cerulli Associates analyst.
This British fintech plans to invade US DC biz
Over the past few years, Smart has secured funding from Natixis IM, JP Morgan, LGIM and Australian administrator Link Group to secure a 'rapid international expansion.'
Honorable Mention
ARA weighs in on ‘lifetime income illustrations’ in 401(k) plans; Barbara Turner becomes Ohio National’s first female CEO; Congress should support PPP tax relief: AICPA.
Annuity Sales Rebound in Third Quarter: WinkIntel
Annuity sales emerged from the shadows of COVID-19 in the third quarter. Sales of multi-year guarantee annuity contracts (MYGAs) and of structured annuities (RILAs) were up by double-digits from...
Principal EASE, a New ‘PEP,’ Offers Income Option
Principal Financial is partnering with National Benefit Services and Wilshire asset management to create Principal Ease, a simplified 401(k) plan that many unrelated firms can join.
Honorable Mention
Vermont grocers start a closed MEP 401(k); Lincoln will recordkeep; Forethought annuities now on SIMON platform; Surge in borrowing by life/annuity insurers: AM Best; Investing after the 2020 election:...
Equitable enhances its flagship buffered annuity, or RILA
Available on Nov. 23, the eight new options add to the Dual Direction feature on Equitable's Structured Capital Strategies Plus buffered annuity.
Honorable Mention
Mercer and Empower will partner on forthcoming ‘PEP’; New ‘structured outcome’ ETF from TrueMark; ‘Annuity Switchboard’ now available from Beacon Annuity Solutions; IRS publishes inflation adjusted limits for employers...
‘Survival pessimism’ dulls the appetite for annuities
Those in their early 60s underestimate the chance of survival to 75 by more than 25 percentage points, on average, and those in their early 70s underestimate survival to...
Federal Reserve issues FMOC statement
The Federal Open Market Committee 'decided to keep the target range for the federal funds rate at 0 to 0.25% and expects it will be appropriate to maintain this...
Annuity sales survive COVID-19, but trail 2019: LIMRA SRI
The bright spot continues to be registered index-linked annuities, or RILAs. Third-quarter RILA sales jumped to $6.4 billion, or 33% over 2Q2020. Year-to-date, RILA sales were $15.8 billion, up 26%...
Honorable Mention
SEC to air October 26 public hearing on ‘Reg BI’; Plan participants want lifetime income options: Lincoln Financial; Pandemic creates anxiety about Social Security: Wells Fargo; Empower marks...
AIG brings FIA (with income rider) to market in New York
AIG annuity product developers had to comply with New York requirements: No explicit fee for the income rider and no notional 'benefit base' for use in calculating annual payouts,...
Pace of portfolio construction outsourcing will slow: Cerulli
In times of uncertainty, more advisers prefer to retain control over investment decisions rather than follow outsourced or company-mandated portfolio adjustments, the research firm said in a new report....
Job loss has cost millions their health insurance: EBRI
Laid-off manufacturing workers are more likely to lose health insurance than service workers, because they're more likely to have employer-provided health insurance in the first place.
The top 1%’s share of U.S income (and more)
The latest crop of research includes a CBO report on U.S. income distribution, a look at the low usage of reverse mortgages, a study of the effect of accumulation...