Will Biden tinker with tax deferral?
'Biden will equalize benefits across the income scale, so working families also receive substantial tax benefits' when they save, a former official told the Financial Services Institute.
As B/Ds merge, technology and culture are keys to success
In a recent survey by Cerulli Associates, technology was tied for the top spot among the factors most frequently cited by advisors as influencing their decision to join a...
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
Sammons Financial buys $3 billion Ohio-based RIA/TAMP; MetLife unit completes pension risk transfer deal with Weyerhaeuser; Equitable publishes study on educators' retirement savings rates; National Guardian Life buys Everplans;...
US insurers’ exposure to CLOs passed $132 billion in 2019: AM Best
The share of collateralized loan obligations in the fixed-income portfolios of life/annuity companies rose to 4.0% in 2019 from 2.7% in 2016, according to the ratings agency.
MassMutual buys Great American Life for $3.5 billion
MassMutual was the sales leader in fixed-rate deferred annuities through the first nine months of 2020, with $5.18 billion in sales. This acquisition makes it an instant player in...
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...
AM Best assesses variable annuity regulatory reforms
The NAIC's VA reforms 'will serve to diminish the noneconomic volatility..., but ongoing developments related to the pandemic will likely lead to more uncertainty, with potential increases in equity...
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.
The ‘PEP’ era begins
Only 26% of 401(k) plan sponsors say they are at least “somewhat interested” in joining a pooled employer plan (PEP), according to new report from Cerulli Associates.
Honorable Mention
Retirement Income Journal takes a holiday break; Fed to buy at least $120 billion in bonds per month; Global Atlantic adds $8.5 billion in reinsurance deal; Roth IRA assets...
In line with SEC, DOL issues broker-friendly ‘best interest’ rule
This version of the best interest rule reflects the spirit of the Trump administration. It is much more de-regulatory and less consumer-protective than the Obama administration’s 2016 best interest...
Income annuities are “best solution for DC plans”: Cerulli
But 64% of respondents to a Cerulli survey cited low demand for guaranteed retirement solutions—despite the 2019 SECURE Act’s provision of regulatory protections for offering annuities. Cerulli is also...
Honorable Mention
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.
