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...
Honorable Mention
SEC commissioners disagree over ‘finders’ exemption; New clients bring $148 billion to Fidelity in 2020; COVID-19 impact on long-term care insurance documented; Rate drought, bull market buffet private pensions:...
Capitalize, a new fintech firm, wants to expedite rollovers
The firm’s platform, according to the release, helps 'Americans easily locate and roll over their legacy 401k accounts… instantly locates former 401k accounts, matches users to individual retirement...
Another asset manager enters the ‘Bermuda Triangle’ fixed annuity business
'Aspida’s three-pronged strategy includes executing new reinsurance contracts, pursuing opportunistic acquisitions of insurance companies and issuing new annuity and life insurance products,' an Ares Asset Management release said.
Honorable Mention
AllianzIM adds two new 'buffered ETFs'; ESG funds, now a political football, haven’t been intercepted; FIDx and Halo partner on annuity/structured product service for advisors; Schwab-TD Ameritrade integration to...
Honorable Mention
Mercer enhances U.S. Pension Buyout Index; CUNA offers new MYGA fixed annuity, ‘MaxProtect’; WINK unveils sales data portal.
Low uptake of HSAs still a mystery: Cerulli
A slight majority of 401(k) participants with >$2 million in investable assets use their health savings accounts (HSAs) for retirement savings, but only one-third of respondents with $500,000 to...
Webinar: FIAs for RIAs
Open this article to view a Youtube video of our webinar last week. RIJ editor and publisher Kerry Pechter interviewed David Lau, CEO of DPL Financial Partners about Lau's...
Who Rules the Top 1%?
Private businesses and partnerships lead most often to the top wealth brackets in the U.S., new research shows. In this edition of Research Roundup, we bring you summaries of...
