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.
The fastest growing broker-deal channel? Independents
'The wirehouses’ growth rates have lagged other broker-dealer channels’ over the past one and five years. However, this is for ‘retail’ assets. The opposite is true in the high...
BlackRock to acquire almost 5% of Envestnet
The partnership calls for BlackRock, Inc., to acquire a 4.9% equity stake in Envestnet by purchasing about 2.36 million shares of Envestnet common stock for about $122.8 million.
Honorable Mention
Milliman launches “Account Lock” for participants; Principal appoints new president of Retirement and Income Solutions; Wells Fargo offers retirement planning resources to participants; Two executive appointments at Northwestern Mutual;...
VA income deferral incentives are working: Ruark
Income commencement rates on guaranteed lifetime withdrawal benefits with 10-year deferral bonuses are highest in year 1 and in years 11+, with low commencement rates in between, according to...
Jackson to reinsure closed block of John Hancock annuities
The transaction involves Jackson indemnity reinsuring approximately $5.5 billion of statutory reserves, representing an increase in Jackson’s general account liabilities of approximately 10%.
Majority of Americans expect to use robo-advice by 2025
Almost 60% of Americans expect to use a robo advisor by 2025 and 45% say robo advice will be the technology that ultimately has the biggest impact on financial...
UBS ups its financial wellness game
The new content experience delivers videos, infographics, articles and “gamified” content to teach employees about planning, budgeting, saving, managing debt, investing, and retirement.
