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...
Retirement paychecks are popular; Annuities, not so much
While 49% of respondents would be willing to commit a portion of their savings to a product that would provide them a monthly income, like an annuity, only 34%...
Twin bills could help small-plan formation
In the Senate, the sponsors were Senators Susan Collins (R-ME) and Bill Nelson (D-FL). In the House, the sponsors were Representatives Vern Buchanan (R-FL) and Ron Kind (D-WI).
New report ponders leakage from 401(k) plans
The ERISA Advisory Council, reporting on testimony it heard last August, recommends the creation by the Dept of Labor of sample forms that will promote the transfer of 401(k)...
Annual 401(k) contributions to reach $500 billion by 2019: Cerulli
"Our projections indicate that, by the end of the decade, total private DC assets will approach $6.5 trillion, the majority of which will be in 401(k) plans," said Jessica...
German DC plans may ‘go Dutch’
With companies trying to molt their pension obligations, Germany is thinking about allowing whole industries to set up collecitvely-managed, Dutch-style defined contribution plans, but with guarantees backed by a...
New issue of The Journal of Retirement published
The Winter edition of the journal includes articles by experts previously cited or quoted in RIJ, including Anna Rappaport, Jodi Strakosch, Sylvester Schieber, and editor Sandy Mackenzie, plus several...
O’Brien retires; NAFA looks for new chief
A spokesman for the National Association of Fixed Annuities said it was coincidental that Kim O'Brien's retirement became effective the day that her letter requesting qualified longevity annuity status...
