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.
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%...
