MapLight, which tracks the influence of money in U.S. politics, claims that the four banks benefiting most from last week's relaxation of rules against swaps trading by federally-insured banks...
Nationwide Settles 401k Fee Suit for $140M
"This is the most substantial settlement ever in an ERISA fiduciary breach case involving the receipt of revenue sharing by a service provider. It is... nearly 10 times greater...
Assets keep flowing toward index and exchange-traded funds
PIMCO's firm-level outflows slowed to $12.8 billion after much larger redemptions in September and October. Janus, with Bill Gross on board, experienced its second positive month in November after...
Towers Watson cuts out middleman in longevity risk transfer deals
Towers Watson’s service, Longevity Direct, will give pension funds access to a “ready made insurance cell,” which it said could write insurance and reinsurance contracts for longevity swap transactions.
Ruark Publishes Biannual VA Usage Study
Many owners of variable annuities with lifetime income riders are not using their benefits as efficiently as they could, Ruark found. They often draw down too much or too...
Mature Americans need retirement advice (desperately)
The oft-cited “four percent rule” for a safe withdrawal rate in retirement is unfamiliar to seven in ten Americans (69%), according to a survey by The American College. Sixteen...
Hungarians protest end of state-sponsored DC plan
Despite a protest march in Budapest, the government has threatened to shut down the last four funds in the “second-pillar” system unless they can prove that at least 70%...
Genworth introduces FIA with income rider
The new product, SecureLiving Growth+, includes four crediting methods and a lifetime income option with a 1.10% annual charge.
Income options in DC plans still rare: PSCA
The Plan Sponsor Council of America has released its 57th Annual Survey of Profit-Sharing and 401(k) Plans, with data on 613 plans with eight million participants and $832 billion...
How Jackson National uses iPads to compete
“At the beginning of this year we started giving our wholesalers iPads instead of laptops,” said Jackson vice president Luis Gomez. “As they visited advisors and went through...
The Bucket
Brief or late-breaking items from New York Life, Fidelity Institutional, Northwestern Mutual Life, Aviva and the Illinois state legislature.
Fidelity & Guaranty Life’s FIA sales doubled in fiscal 2014
Harbinger's CEO and chairman, Philip Falcone (in photo) will resign Dec. 1, to focus on HC2 Holdings and Harbinger Capital Partners. He will depart with a bonus of $20.5...
Competitiveness of U.S. public equity markets called ‘weak’
U.S. share of global IPOs by foreign companies sits at 9.0%, continuing the trend of foreign companies avoiding U.S. equity markets. This measure remains far below the average...
A VA with a little bit of everything, from Principal
The product has a current M&E fee of 1%. Fund expense ratios range from a low of 0.65% to a high of 2.63%.
Vanguard continues to dominate fund in-flows
Vanguard funds saw inflows of $17.45 billion in October and $165.4 billion for the first ten months of 2014. YTD, Dimensional Fund Advisors was second with $24.4 billion.
The staid world of Dutch pensions is evolving: ABP
Government, education and civil service pension ABP, which has 2.8 million participants in a country of less than 17 million, pointed to trends in the Netherlands that may...
Canadians feel as insecure about retirement as we do
LIMRA's new report, 'Ready, Set, Retire? Not So Fast!... Revisited: A Canadian Consumer Retirement Study,' is a follow-up to two previous studies that LIMRA conducted in Canada.
Indexed and deferred income annuity sales shine in 3Q2014: LIMRA
Deferred income annuity (DIA) sales reached $670 million in the third quarter, 21% higher than the prior year, according to LIMRA's Secure Retirement Institute. In the first nine months...
Life/annuity stocks struggle as low interest rates persist: A.M. Best
With an appreciation of 7.6%, Voya Financial, Inc. was the best performing life/annuity stock in the third quarter of 2014, according to A.M. Best. With a share price decline...