Retirement-related tax breaks = $276 bn in 2019
The value of exclusions and deferrals of taxes for contributions to and earnings in pensions and retirement savings accounts was $276 billion in 2019. The exclusion for employee health...
Retirement reforms cut from Build Back Better Act
The 'back door' Roth IRA will not be closed, and limits won't be placed on contributions by higher-income individuals with large account balances, NAPA Net reported.
Breaking News
Investcorp hires ‘insurance solutions’ expert away from Blackstone; US ranked 19th among world’s retirement systems; Pacific Life VAs to include Invesco ‘Defined Outcome’ funds; Fund and ETF flows abate...
Seven questions that reveal financial biases
'Understanding clients' underlying biases and mitigating suboptimal investment decisions is critical for advisors in a digitally pervasive environment,” a Cerulli Associates report said.
Jackson issues its first structured annuity (RILA)
RILA sales hit a record $9.8 billion in the second quarter of 2021. Jackson enters a field whose peloton includes the leader, Equitable, and fast-followers Allianz Life, Lincoln Financial,...
Breaking News
Biden DOL gives green light to green funds in retirement plans; Morningstar announces a ESG Pooled Employer Plan; After 45 years, two of the initials in the acronym ‘KKR’...
Deferred annuity sales up 10% in 2Q2021: WINK
Jackson National, Equitable, Allianz Life, AIG and New York Life were the market share leaders in major annuity product categories in the second quarter of 2021, according to Sheryl...
Honorable Mention
American Equity partners with BlackRock and Conning on its AEL 2.0 strategy; Go big (in alternative assets) or go home, KKR CIO tells insurance CIOs; Allianz Investment Management launches...
Royal Mail adopts ‘Collective’ DC; NEST to hold private equity
Royal Mail is converting its defined benefit pension plan to Britain's first "collective defined contribution" plan or CDC. In other UK news, the National Employment Savings Trust, or NEST,...
Use of bond ETFs for retirement income expected to rise: Cerulli
A new Cerulli report also explores sales of annuities to fee-only advisors; '84% of independent registered investment advisors (RIAs) sold no annuities in the last 12 months… despite significant work in...
Retirement assets total $37.2 trillion in 2Q2021
Assets in IRAs totaled $13.2 trillion at the end of 2Q2021, up 5.4% from the end of 1Q2021. Defined contribution (DC) plan assets were $10.4 trillion at the end...
Honorable Mention
Riskalyze to feature Allianz Life annuities; Great American annuities now on the Halo platform;
After a Hot 2nd Quarter, Will Annuity Sales Rise This Fall?
Except for the fourth quarter of 2008, during the Great Recession, quarterly annuity sales have never higher, according to the Secure Retirement Institute (SRI) US Individual Annuity Sales Survey.
Vanguard and RCH to offer ‘auto-portability’ service to plan participants
RIJ has been writing since 2014 about Retirement Clearinghouse and its effort, backed by the deep pockets of owner Robert L. Johnson, to bring 'auto-portability' to 401(k) plans....
Honorable Mention
Lincoln Financial to gain $1.2 billion in capital from reinsurance deal; Joanna Rotenberg to run Fidelity’s $4.1 trillion Personal Investing division; Guggenheim Life and Annuity “under review” by ratings...
Honorable Mention
Michelle Richter to lead the Institutional Retirement Income Council; AIG to distribute annuities through SIMON; Morgan Stanley and Empower partner on workplace benefits; Jackson National completes ‘demerger’ from UK...
Tax hike looms for top earners
The House Ways & Means Committee's budget reconciliation recommendations include, among other measures, increases in income taxes on individuals earning over $400,000.
Prudential Sells $31bn Annuity Block to Bermuda Reinsurer
Fortitude Re will assume the assets and liabilities of a $31 billion block of Prudential annuities, and pay Prudential $1.5 billion. The block consists mainly of variable annuities with...
Progress for retirement provision in ‘Build Back Better’ bill
'Among other things, the legislation would require employers without employer-sponsored retirement plans to automatically enroll their employees in IRAs or 401(k)-type plans,' according to a report today in the...
Honorable Mention
Jackson National enhances retirement income gap calculator; Ubiquity introduces 401(k) for ‘solopreneurs’; 'Income Lab' adds $1.7 million in seed financing; Many women prefer goal-based investing: Cerulli and Schwab; FIG...
