New living benefit rider from W&S has 7% (simple) 10-year roll-up
The rider has an aggressive roll-up that’s paid for with a substantial rider charge and the issuer’s right to raise the charge to 2% a year.
Explained: The fall and rise in the average retirement age since 1880
In a paper entitled "The Average Retirement Age - An Update," the director of the Center for Retirement Research at Boston College describes the factors that drove earlier retirement...
With acquisition, Envestnet arms itself against robo-advice threat
“Upside helps financial advisors compete against other digital advisors, or ‘robo advisors,’ by leveraging technology and algorithms to advise, manage, and serve clients,” an Envestnet release said.
In Denmark, interests of retirees and urban renters collide
A new law requiring 25% of construction land in Denmark to be used for “social housing” could hurt the value of real estate investments by pension funds and disrupt...
The Bucket
Late-breaking news about Fidelity's new IRA bonus offer, and brief items from Wagner Law Firm, 401k Averages Book, Cerulli Associates, Betterment and Northwestern Mutual.
Rising sales of “medically underwritten” group annuities reported in UK
Four UK insurers offer medically underwritten group (“bulk”) annuities: Aviva, Just Retirement, Legal & General, and Partnership, with Partnership and Just Retirement doing the majority of business.
A product that ‘no one likes’ sold over $235 billion in 2014
Americans contributed $12.4 billion to immediate or deferred income annuities in 2014, and $48.2 billion to indexed annuities, many of which had income riders, according to LIMRA. VA sales...
Video: Obama talks about Borzi rule at AARP
The president spoke at the offices of AARP in Washington Monday, praising the re-proposal of the Labor Dept. rule holding retirement advisors to a "fiduciary" standard of conduct. The...
U.K. life insurers to suffer as forced annuitization ends
The major life insurers are expected to be profitable, according to Thomson Reuters data, but profits at Aviva, Friends Life and Legal & General are expected to be flat...
Giant banks are “systemically-important” for different reasons
Over-the-counter derivatives positions, which contribute to the complexity of the financial system and helped trigger the financial crisis of 2007-2008, were particularly high at Morgan Stanley and Goldman Sachs....
Staying married and avoiding nursing homes can trim your retirement shortfall risk: EBRI
Being part of a couple, receiving Social Security benefits, not needing long-term care, and having participated in a workplace savings plan are all associated with a reduced risk of...
Citing long-term care exposures, A.M. Best lowers Genworth’s strength ratings
Genworth’s LTC business “is likely to exhibit volatility going forward due to the limited credibility of claims data, the profile of its in-force block and the challenge of achieving...
Ken Mungan elected Milliman’s chairman of the board
In making the announcement, Milliman president, CEO, and interim chairman Steve White said, "Ken Mungan is an innovator and entrepreneur and has built a global consulting practice dedicated...
Coming next week: a new VA income option from MetLife
News about the new GLWB rider, called FlexChoice, is officially under wraps until next Tuesday.
Rollovers will reach $382bn in 2015: Cogent Reports
The distributor firms best positioned to capture and retain these rollover assets are Vanguard, Charles Schwab and Fidelity Investments, the report said.
‘Problem drinking’ can hurt retirees’ health—and wealth
Rates for alcohol-related hospitalizations among adults age 55+ were close to those for heart attacks in the 1990s, and number has greatly increased since then, according to an article...
Retirement savings items in proposed 2016 federal budget
Though several of these proposals have been rejected or ignored by Congress in the past and may be ignored again, President Obama included a number of items in his...
Employees at biggest companies by far save the most
”You’ve got 500 investment committees who are, essentially, dictating trends in retirement savings that can’t help but influence the rest of the market,” according to a release from Judy...
Pfau creates retirement ‘Dashboard’ and two indices
For advisors who love the convenience of dashboards and indices, Wade Pfau, Ph.D., who teaches retirement income planning at The American College, has created a trio.
The Principal adds ‘QLAC’ status to a DIA
Under the new QLAC rules, individuals can use up to 25% of their pre-tax savings (but not more than $125,000) to purchase a DIA whose payout starts after age...
