T. Rowe Price launches its version of a hybrid robo-advisory solution
IRA investors can get a model portfolio of actively managed T. Rowe Price funds, digital services and access to a live phone rep. All costs are built into the...
Retirees confident about retirement; workers not so much: EBRI
“Debt, lack of a retirement plan at work, and low savings,” are the three main contributors to low retirement confidence, said Craig Copeland, EBRI senior research associate and co-author...
For many, marriage and lack of debt define ‘middle class’: LIMRA study
Oddly, 81% of the upper class, as defined by Pew Research, describe themselves as middle class, according to a survey by LIMRA and Maddock Douglas.
As expected, Fed nudges target rate higher
'In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 0.75%...
The Fiduciary Rule Delay and Legal Exposure: One Law Firm’s Opinion
This bulletin, written by attorneys at the DrinkerBiddle law firm, interprets the DOL's latest Field Assistance Bulletin regarding the likely delay in the applicability date of the fiduciary rule....
DC plans deliver less income than DB plans, study shows
Expansion of DC coverage, wider use of auto-enrollment and auto-escalation of contributions, and reduced leakage would help turn the situation around, according to the Center for Retirement Research at...
Older, poorer Americans take a hit under Ryan health plan
“The increase would be disproportionately larger among older people with lower income... People between 50 and 64 years old with income under 200% of the federal poverty level would...
AIG looks for new CEO
The AIG Companies are among the largest issuers of fixed and variable annuities, with $13.6 billion in total annuities sales through the first three-quarters of 2016.
Honorable Mention
Brief or late-breaking items from Voya Financial, The Retirement Equity Laboratory at the New School, and Kehrer-Bielan consultants.
Netting $317 billion, Vanguard dominated fund flows in 2016: Morningstar
'2016 was more filled with uncertainty than other years, particularly in light of a few extraordinary political events that nobody believed would happen until they did,' said Morningstar in...
Consumers want safe income but don’t understand annuities, study shows
A survey by CANNEX and Greenwald & Associates shows once again that Americans want guaranteed retirement income but don't know much about annuities that provide guaranteed income.
Jefferson National strengthened by its new owner, Nationwide
A.M. Best said it expects Jefferson National’s management to remain in place, but the insurer 'will be transitioning to the Nationwide brand.'
Nobody knows you when you’re down and out (and single and old): AARP
Lonely older adults are much more likely to have an annual household income of less than $25,000 and assets under $10,000, and are more likely overall to be in...
ClearFit, a turnkey retirement plan from Morgan Stanley and Ascensus
The investment menu will use a multi-manager approach and non-proprietary funds. ClearFit’s target date models will use Morgan Stanley’s proprietary retirement glidepaths.
Instead of retirement savings, farmers bank on their land
'The same independence that drew them to farming characterizes their retirement approach: free of pensions, unions and so-called experts,' a New York Times report said.
Two long-term care issuers in PA to be liquidated
'Pricing deficiencies and resulting financial losses have resulted in many long-term care insurers seeking large premium rate increases and some leaving the market,' the Pennsylvania insurance commissioner said.
Consumer coalition rallies against Wells Fargo Bank
'We call on Wells Fargo to do the right thing, and to immediately cease using forced arbitration clauses in its consumer and employment contracts,' said a letter to the...
Insured Retirement Institute announces its lobbying goals for 2017
The IRI called for Congress not to allow state and local governments to set up auto-IRA plans for businesses without retirement plans, urged the removal of barriers to multiple...
‘Money isn’t everything’
Of those surveyed by Havas Worldwide, about half want their financial life 'bundled within a single organization' and over half of early tech adopters "want to pay for everything...
Indexed annuity sales hurt by fiduciary rule: LIMRA SRI
'Until there is some clarity on the DOL fiduciary rule, the Institute expects sales to continue to drop in 2017,' said Todd Giesing, assistant research director of the LIMRA...
