Introducing the free ‘Social Security Maximizer’
To access the Maximizer, subscribers (after logging in to the RIJ website) should simply click on the Social Security Maximizer image in the right navigation channel of the RIJ...
Retirement assets total $23 trillion in 1Q2014: ICI
IRAs held $6.6 trillion in assets at the end of the first quarter of 2014, up from $6.5 trillion at the end of the fourth quarter of 2013. Forty-six...
Cerulli explains strange bond weather
Life insurers, holders of $2.6 trillion in long-term bonds, added about $52 billion in high-quality bonds to general account investment portfolios last year, Cerulli reported.
UK creates framework for DB/DC hybrid
It’s still not clear whether the hybrid approach—called “defined ambition” by UK Work & Pensions secretary Steve Webb—has widespread support or interest among employers or if it’s mainly a...
AIG to help officers accused of ‘fraud on the market’
The “fraud on the market” theory in class action litigation asserts that the price of shares traded in an “efficient market” reflects all available information, including alleged misrepresentations by...
Northwestern Mutual to sell Russell Investments
Russell oversees almost $260 billion in assets, primarily for large, institutional investors such as pension funds. The firm also maintains stock indices such as the Russell 2000. Russell mutual...
IRA rollovers in 2013 totaled $324 billion; $720 billion stayed behind
Besides providing quantitative rollover data, a new Cerulli Associates report provides qualitative survey data. One takeaway: People in their 50s don't think of themselves as 'pre-retirees.'
The Bucket
Brief or late-breaking items from TrimTabs, E*Trade, Transamerica, Fidelity, Guardian Life, and LPL Financial.
Merrill Lynch overcharged 41,000 small business retirement plans: FINRA
Merrill Lynch learned in 2006 that its small business retirement plan customers were overpaying, but continued to sell them more costly shares and failed to report the issue to...
Social Security a “screamingly good” deal: Financial Engines
Yet, ironically, there’s little evidence that a majority in Congress would be amenable to the higher payroll taxes that will probably be needed to make those generous, inflation-indexed Social...
Limit participants to three loans: TIAA-CREF
Paying off debt was cited as the top reason for borrowing from retirement plan savings (46%), yet only 26% of respondents said that paying off debt justified a loan.
Connecticut funds the creation of a public IRA by 2016
The Connecticut Retirement Security Board will be expected to report their findings and a plan for implementation to the General Assembly by April 1, 2016.
The Bucket
Brief or late-breaking news items from NFP Advisor Services, Prudential Financial, Northwestern Mutual, Guggenheim Securities, Allianz Life, Barclays, MetLife and Zillner.
With ‘Daily+4,’ Forethought VA gets creative
With the Daily +4, each day that the contract value reaches a new high, the withdrawal base steps up to capture the new value. At the end of the...
VAs’ negative cash flow exceeds $1 billion in 1Q2014
With sales of $6.4 billion, up from $5.5 billion in 4Q2013, Jackson National was the only major VA issuer whose sales grew in the first quarter, according to Morningstar.
Total U.S. Annuity Sales Up 13% YOY: IRI
The year-over-year sales growth was supported by continued high levels of fixed annuity sales, which totaled $22.6 billion during the first quarter, according to Beacon Research.
Vanguard issues “How America Saves 2014”
In the 13th edition of its annual statistical report, the defined contribution full-service plan provider shares information on $600 billion in over 3.5 million accounts at more than 3,000...
The Bucket
Brief or late-breaking items from Prudential Financial, MetLife, AIG, Plumvo and Securian.
British pension industry wary of “collective” DC
The UK's retirement system is a work in progress. With private DB plans expected to vanish in 2016, the government is promoting Danish-style DB/DC hybrids (not US.-style DC) as...
Voya hires Milliman to hedge its closed VA block
In 2010, Voya Financial stopped actively writing new retail variable annuity products with substantial guarantee features and separated its closed block of VA business from its ongoing businesses, according...
