New York proposes public-option IRA by 2021
Fewer than half of working New Yorkers have access to a retirement savings plan at work and 40% of New Yorkers ages 50 to 64 have saved less than...
Honorable Mention
iPipeline processes 240,000 annuity transactions in 2018; Duke University settles 'excessive fee' lawsuit; Oceanwide-Genworth merger moves ahead.
Khalaf succeeds Kandarian as MetLife CEO
Michel A. Khalaf joined MetLife through its acquisition of American Life Insurance Company (Alico) from American International Group (AIG) in 2010. Kandarian managed MetLife through the spinoff of its...
Conning assesses life and annuity businesses
The new study focuses on 'the inorganic strategies that insurers have used over the last decade' and on how insurers 'are creating value by strategically repositioning their companies.'
A retirement account for cryptocurrency buffs
Bitcoin IRA said it will license its cryptocurrency platform technology to enterprise businesses, who can in turn offer the capability to advisors and clients.
Honorable Mention
Advances in ‘A.I.’ favor direct channel growth: Cerulli; Securian offers new multi-year guaranteed annuity; Small employers warm to retirement plans: LIMRA; Citigroup settles 401(k) fiduciary lawsuit for $6.9 million.
When the Fed tightens, emerging market borrowers feel the pinch
Increases in the federal funds rate of 25 basis points were associated with a 4.2 percentage point larger overall decline in dollar credit for emerging market firms than for...
In Austria, earlier retirement was associated with earlier death
An additional year in early retirement increased a man’s probability of death before age 73 by 1.85 percentage points and reduced the age at death by an average of...
JPMorgan Chase to pay $135 to settle SEC charges
'With these charges against JPMorgan, the SEC has now held all four depositary banks accountable for their fraudulent issuances of ADRs into an unsuspecting market,' said Sanjay Wadhwa, Senior...
Medicare premiums for 2019
The standard Medicare Part B monthly premium for 2019 will, for most individuals, be $135.50. Single beneficiaries with incomes over $85,000 and married couples with incomes of over $170,000...
Honorable Mention
Transamerica is sued by its own 401(k) participants; ETFs added $47 billion in November; Alight and Advizr in financial wellness partnership; AIG buys UK group life company.
New Jersey to establish auto-enrolled IRA for workers without plans
The Garden States joins two other 'blue states,' California and Oregon, in sponsoring a portable workplace savings plan for workers without access to a plan. The IRAs will offer...
Prudential surveys ethnic, gender finances
'The average annual income for women in our sample was $52,521, compared with $84,006 for men—a difference of 37%,' according to Prudential's new survey.
Honorable Mention
Fed raises benchmark rate by 25 basis points; A.M. Best affirms the ‘A’ ratings of AXA Equitable Life; DPL Financial’s insurance platform for RIAs to offer no-commission Security Benefit...
RIJ to observe the holidays next week
Retirement Income Journal will not publish on December 27, 2018, in observance of the holidays, but will reappear as usual on January 3, 2019.
Life/annuity industry upgraded to stable from negative by A.M. Best
Although volatility ratcheted up in the second half of 2018, the equity markets and interest rate movements should be net positives for operating performance, according to a recent report...
Survey shows how advisors generate income for clients
A survey by bond dealer Incapital LLC showed that 51% of financial advisors generate income for clients from dividend-paying stocks, 43% from equity income mutual funds, and 43% from...
FIA sales will exceed VA sales by end of 2021: Cerulli
This article combines Cerulli's latest assessment of the annuity market with third-quarter annuity sales data from the Insured Retirement Institute, Beacon Research and Morningstar, Inc.
Allianz Life to nurture tech startups
The Minneapolis-based insurer will partner with SixThirty, a St. Louis-based venture capital firm that has invested in 44 'fintech' and 'insurtech' startups since 2013.
Latinos fall behind in saving even as their numbers surge ahead
The U.S. Administration on Aging predicts the Latino population that is age 65 and older will number 21.5 million and will comprise 21.55% of the population by 2060.
