Towers Watson CEO extols ‘bridge’ strategy
People who retire at age 62 should spend personal savings for eight years and claim Social Security at age 70, rather than claim SS at age 62. So says...
Britain invaded! By robo-advice!
'The low-margin business of fund distribution is being standardized, innovative digital propositions are flourishing, and layers of distribution are being removed' in the U.K., according to a new report...
The Bucket
Brief or late-breaking items from New York Life, Northwestern Mutual, Vanguard, AIG and Primerica.
Secrets of Tax-Efficient Drawdown
In a regular new feature on the latest retirement-related research, we look at a variety of recent articles, including one that might just change the way you think about...
What is the Indexed Annuity Leadership Council?
The IALC is a three-year-old advocacy group representing fixed indexed annuity manufacturers, with former North Dakota insurance commissioner Jim Poolman as executive director.
Pacific Life issues qualified longevity annuity
The insurer's press release positions the product mainly as a way for advisors to help their clients reduce annual taxes during retirement, instead of as insurance against running out...
Hueler’s Income Solutions now offers QLACs
Vanguard, Alliance Benefit Group, Beneplace and several large plan sponsors offer the Hueler platform to their plan participants.
AIG, BofA Merrill Lynch collaborate on index annuity option
Through a daily “non-discretionary process eliminates the impact that emotions may have on allocation decisions,” AIG said in a release, the contract moves money into cash when short-term...
The Bucket
Brief or late-breaking items from Bank of the West, Vanguard, Global Retirement Partners and LPL Financial.
Surge of fixed indexed annuity sales at independent broker-dealers in 2014
Industry-wide annuity sales reached $229.4 billion in 2014, a 3.8% increase from $220.9 billion in 2013 and an 8.2% increase from $212 billion in 2012.
Voya enters the structured variable annuity game
The product resembles other structured variable annuities in the marketplace, issued by MetLife, AXA, CUNA Mutual and Allianz Life. These products offer more upside potential than fixed indexed annuities...
Value of U.S. pension and retirement accounts exceeds $21 trillion
The total assets held in employer-sponsored retirement plans were $11.3 trillion at the end of 2014, an increase of 11.5% percent from the $10.1 trillion one year earlier, according...
Ameriprise and Bank of New York Mellon settle ERISA suits
Ameriprise Financial will pay $27.5 million to settle charges that its own 401(k) plan investment options were too expensive and Bank of New York Mellon will pay $84 million...
How much should your clients start saving now? EBRI knows
The traditional 'replacement rate' method of gauging retirement savings adequacy ignores the risk of outliving one’s savings, post-retirement investment risk, and nursing home costs, according to the Employee Benefits...
New York City comptroller calls for statewide “fiduciary disclosure”
“Billions of dollars in savings are lost each year because of hidden fees and conflicted financial advice,” Scott Stringer said, borrowing a theme from the Obama administration, which has...
Quote of the Week
“You go to the doctor to make you feel better. But a doctor doesn’t have to make someone else sick in order to make you feel better.” Gus Sauter,...
New York Life’s new fixed deferred annuity has a GLWB
The Clear Income Fixed Annuity's lifetime withdrawal rider provides longevity risk protection income with more liquidity than a deferred income annuity, and is designed to compete well against...
Senate hearing on retirement
A link on the next page will send you to a video of the March 12 hearing of the Senate Special Committee on Aging. Alicia Munnell of the Center...
As UK’s annuity mandate ends, NEST weighs alternatives
The National Employment Savings Trust (NEST), Britain's public workplace retirement plan option, believes that despite the end of forced annuitization, middle-class retirees will still need a default mechanism for...
Many rich people are DIY investors: Cerulli
Many high-net-worth investors use direct accounts to test their own investment ideas, provide liquidity, and even to shelter assets from their primary advisors,” the Boston-based research firm found.
