Don’t cut Medicaid, say Ivy League doctors
The Medicaid cuts envisioned under the ACHA and the Trump budget would cause widespread harm, three health care experts wrote in the New York Times this week.
In fiduciary suit, Northrop Grumman settles with participants for $16.75 million
The settlement does not cover claims raised in Marshall v. Northrop Grumman Corp., a second case against Northrop filed by Schlichter, Bogard & Denton on September 9, 2016.
A target date fund for RMDs, from Fidelity
Investors in Simplicity RMD Funds can set up distributions through Fidelity’s automatic withdrawals service. Fidelity calculates and distributes the investor’s RMD each year.
Political turmoil sidelines UK pension reform
'If you’re under 40 your income has been eroding and your ability to grow wealth assets is almost non-existent,' said one official. 'The parties’ promises need to catch up...
Honorable Mention
Brief or late-breaking items from TIAA, Transamerica, Milliman and the Investment Company Insitute.
Variable Annuities Suffer Steep Net Outflows
But a 6.07% burst of first-quarter growth in the S&P 500 boosted total VA assets under management to $1.86 trillion, up 2.73% from the previous quarter and 4.49% from...
Jackson National switches to DoubleLine from PIMCO for a VA subaccount
Pimco's flagship Total Return investment strategy had been one of Jackson National’s variable annuity subaccount options since 1998.
BlackRock enhances iRetire platform for advisors
iRetire is an “end-to-end retirement planning framework that financial advisors can use to take clients to and through retirement,” a BlackRock release said.
To attract youth, TIAA’s new robo offers socially-responsible investments
The service requires a minimum account balance of $5,000 and charges annual advisory fees of just 30 basis points (0.3%).
Honorable Mention
Brief or late-breaking items from T. Rowe Price, The American College, Nationwide and Natixis.
Life/health insurers see net quarterly operating income more the double
Bonds remains the industry's top invested asset class, but the proportion held in bonds declined as more money was invested in mortgage loans, which made up more than 11%...
Lincoln Financial’s new VA income rider offers rich benefits—with a catch
There are 51 investment subaccounts, 25 asset allocation options and five asset allocation models. Within certain restrictions, the equity allocation can be as high as 80%.
Aspen Institute and LendUp sponsor events on ‘income volatility’
Columbia, SC, will host the first event on June 1, 2017 at the South Carolina Bar Conference Center.
For big asset managers, average margins are down but AUM is up: DST
Cumulative assets under management (AUM) for 15 large publicly-held firms grew 3.8% quarter-over-quarter, and 4.8% year-over-year to an all-time high of nearly $11 trillion ($10.999 trillion). BlackRock accounts for...
Indexed annuity sales fall in first quarter: Wink
New York Life was the overall top seller of non-variable deferred annuities, with a market share of 9.6%. Allianz Life retained its top ranking in indexed annuity sales with...
ETFs and alternatives offer hope amid soft variable annuity sales
Despite the negative effect of the DOL fiduciary rule on VA sales to rollover IRA clients, “VAs will still represent an area of opportunity for liquid alternative asset managers,”...
High-profile dealmakers acquire Fidelity & Guaranty Life
Harbinger Group sells indexed annuity issuer FGL to Chinh Chu and William P. Foley II.
