Lincoln Financial enhances VA income rider
'The 5% rollup starts at purchase and runs for 10 years. It applies only in years when there’s no withdrawal and there’s a hard stop at 10 years from...
Labor Department acts on state-sponsored workplace IRAs
So far, eight states have passed legislation requiring private-sector employers that don’t offer retirement plans to auto-enroll their workers in state-administered, payroll-deduction IRAs.
Publicly-traded U.S. life insurers see 19% income decline: Fitch
Fitch expects low reinvestment rates to continue to be an earnings headwind in the second half of 2016.
AXA wins excessive fee litigation suit
U.S. Judge Peter G. Sheridan ruled that the plaintiffs failed to prove that AXA Equitable’s Fund Management Group had charged “exorbitant fees” while delegating “all of the services” to...
Schwab’s new TDFs sport ultra-low fees
The new funds, which are available to employer-sponsored retirement plans, have an across-the-board expense ratio of eight basis points (0.08%) and no minimum investment requirements regardless of plan size.
Honorable Mention
Brief or late-breaking items from Voya Financial, MassMutual, TIAA, Diversified Services Group, Ameritas, The Guardian, and the World Demographic and Ageing Forum.
Demand for retail “institutional” funds to accelerate: Strategic Insight
Distributors are likely to apply the standards of the DOL fiduciary (or "conflict of interest") rule to all client money, not just qualified assets, said Dennis Bowden (pictured), lead...
Vanguard continues to dominate mutual fund flows: Morningstar
“Cost definitely plays an important part , but it’s not the only reason,” Morningstar’s Alina Lamy (pictured) told RIJ. “A lot of it has to do with...
RIJ Takes a Two-Week Vacation
Retirement Income Journal will not appear on August 25 or September 1. The editorial staff is taking its annual vacation. We'll return with the September 8, 2016 issue. Thank...
Advisors in limbo regarding DOL rule
More than four in ten advisors (43%) said they may plan to expand services offered to more holistic planning and 26% may plan to focus on non-qualified accounts, according...
Lull in “fintech” funding observed
A new KPMG report attributed the drop to “a tougher climate for marketplace lenders and a drop in mega-round activity.”
TIAA creates fund to invest in ‘super-regional’ malls
Super-regional malls are “a distinctly strong and stable performer throughout multiple cycles,” said Suzan Amato, managing director of TIAA Global Asset Management.
T. Rowe Price reports on trends in its retirement plans
The average deferral rate among T. Rowe Price plan participants was 7%, far below the recommended level of 15% (which includes the employer match). About one-third of participants are...
Variable annuity fee income boosts Jackson’s performance
'Consistent with the rest of the industry, variable annuity sales have slowed due to market volatility and activity surrounding the U.S. Department of Labor fiduciary rule,' said Barry Stowe,...
TIAA buys Everbank
EverBank stockholders will receive $19.50 per share in cash, or an approximate total of $2.5 billion.
Lincoln Financial Distributors enhances annuity sales demonstrator
The enhancement “helps advisors address the impact taxes have on retirement planning and the need for income in retirement,” said John Kennedy, head of Retirement Solutions Distribution, Lincoln Financial...
Scalable Capital, a German robo, enters UK market
In addition to the average ETF fee of 25 basis points, Scalable Capital charges an all-in annual fee of 75 basis points, for an approximate annual expense ratio of...
Manweb Group and Abbey Life complete £1bn pension risk transfer
The deal is structured as a tri-partite insurance policy between Electricity Pension Trustee Limited, Manweb (a unit of Scottish Power, which is a unit of Iberdrola) and Abbey Life,...
Bank of England’s rate cut draws criticism
'Trustees of pension schemes, whose deficits keep rising, are facing almost impossible investment dilemmas,' said Amlan Roy of the London School of Economics.
AARP offers $150k for Social Security innovation
Up to five successful applicants to AARP's 'Social Security Innovation Challenge' will be awarded up to $30,000 each to develop their policy innovations further.
