New York Life’s DIA surpasses total premiums of $2 billion
The current payout rate for a 60 year old male who defers for 10 years is about 12%, so that a $100,000 premium would provide a 60 year old...
A one-person defined benefit plan? Who knew?
Personal DB plans are a potential alternative for physicians, sole practitioners, small businesses and small companies with only a few employees, according to the CEO of a company in...
Wells Fargo to distribute Allianz Life’s ‘Essential Income 7’ FIA
"Essential Income 7 can earn indexed interest through the S&P 500 and Barclays US Dynamic Balance Index allocations. Indexed interest is credited by an annual point-to-point with a cap...
MassMutual relaunches small company 401(k) package
Aviator was initially available through The Hartford’s Retirement Service Group before MassMutual purchased it in 2013, Aviator is being reintroduced with several enhancements, including a new line up...
Guaranteed Lifetime Income Appeal Index created
At present, according to a new survey by CANNEX and Mathew Greenwald & Associates, only 16% of consumers score highly on the GLI Appeal Index, which measures the likelihood...
Chinese insurer buys Waldorf-Astoria
The buyer is Anbang Insurance. The seller, Hilton Worldwide Holdings, will continue to operate the iconic art deco hotel, which adjoins a 47-story office tower.
Does end-of-life family care ‘crowd out’ annuities?
In their study, “Annuitized Wealth and Post-Retirement Savings,” John Laitner and Dmitriy Stolyarov of the University of Michigan and Daniel Silverman of Arizona State call these late-life inter-family transfers...
A.M. Best takes pulse of insurance industry
The ratings agency's recent survey asked companies to identify how they planned to invest new money in 2015, and alternative assets also were viewed in terms of investment perspective...
Which older workers will cling to their jobs?
The trend of delayed retirement is becoming increasingly common among employees who are “disengaged, unhealthy and/or stressed,” all of which pose productivity challenges for employers, according to a recent...
The Bucket
Brief or late-breaking items about an in-plan income option from Lincoln Financial, a new long/short fund for Elite Access, and news from LIMRA and John Hancock.
Deniers of retirement savings crisis strike again
In their recent Wall Street Journal article, Andrew Biggs and Sylvester Schieber cite a study showing that the average U.S. retiree has an income equal to 92% of the...
U.S. paper assets are $198 trillion: Fed flow of funds report
The net worth of households and nonprofits rose $1.4 trillion to $81.5 trillion during the second quarter of 2014. The value of directly and indirectly held corporate equities increased...
Finns will link retirement age to longevity in 2028
The pension reform, which will come into force at the beginning of 2017, aims to extend working life and narrow the sustainability gap of the whole public economy by...
RIAs recognize “robo-advisers” as threats: Scottrade
Many registered investment advisers say robo-advice will put downward pressure on fees, force RIAs to appeal to younger investors, and cause investors to “expect newer ways of interacting with...
The Bucket
Brief or late-breaking items from Integrity Life, Guggenheim Partners, TIAA-CREF, and Wells Fargo Advisors.
To exit DB plan, Motorola buys group annuity from Prudential
Motorola Solutions Pension Plan intends to purchase a group annuity contract under which Prudential will pay and administer future benefits to the approximately 30,000 retirees who currently receive payments....
A robo-advisor aims at the 401(k) market
“Our goal is to ‘fix’ the epidemic of inappropriately invested 401(k) plans with a simple, scalable, professional service,” said Chris Costello, co-founder of blooom, in a release.
Mailings of paper Social Security statements to resume
Everyone over 18 will receive a benefits projection statement once every five years. After age 60, people will receive a statement every year.
The Bucket
Brief or late-breaking items from Deloitte, Voya, Lincoln Financial, Strategic Business Insights and Morningstar Inc.
Cerulli publishes pointers on capturing IRA rollovers
Of the $1.1 trillion that former participants could have rolled over in 2013, $720 billion remained in plans, awaiting future action, Cerulli analysts said.
