Managed-Vol: Bromide for Queasy Retirees
Managed-volatility funds can adequately address the income volatility worries of many high net worth retirees, say Milliman and Jefferson National, both of whom are pitching such funds. ...
In Radical Move, Britain Deregulates Retirement
“Pensioners will have complete freedom to draw down as much or as little of their pension pot as they want, any time they want,” said the UK Chancellor of...
Top 20 annuity sellers in 2013
In 2013, Jackson National Life sold $20.9 billion worth of variable annuities and New York Life sold $6.5 billion worth of fixed annuities, to lead those categories. Jackson had...
Beware of Oligopolies in Banking
"I suspect that 2014 will prove to be a critical juncture for determining the future of the banking industry and the role of regulators within that industry," said the...
‘I’ll never retire’ vow weakens with age, survey shows
As people pass age 35 and near retirement, they grow less willing to retire later and more willing to downsize their expenses and lifestyle, according to a new survey...
Poland’s clawback of privately-managed DC funds criticized
In a new report, the OECD (Organization for Economic Co-operation and Development) said the forced transfer—tantamount to state confiscation of private money—of OFE funds to the ZUS has damaged...
AIG’s Bermuda-based unit to offer captive insurance out-sourcing
AIG Captive Management Services in Bermuda will manage the regulatory requirements, financial reporting, and administrative functions for all customers participating in Grand Isle SAC Ltd.
Schlichter sues a hospital chain for “excessive” plan fees
The latest ERISA suit from St. Louis plaintiffs attorney Jerry Schlichter (pictured) claims that Novant Health Inc. violated its fiduciary duty by paying excessive fees to Great-West Life &...
The Bucket
Brief or late-breaking items from Vanguard, Prudential Financial, Nationwide Financial, LPL, Fidelity, Franklin Templeton, the American Bar Association and AARP.
In Hartford, a Public IRA Proposal
RIJ traveled to Hartford on Tuesday for a hearing on a bill that would require most Connecticut employers to offer a retirement plan and would create a default public...
Two Advisers, Two Strong Opinions of FIAs
If annuities in general incite controversy, FIAs are easily the most polarizing annuities. Just listen to what Howard Kaplan, an LPL adviser in the New York area, and Harry...
JPMorgan proposes “dynamic decumulation model”
"Greater lifetime income, through Social Security, pensions and/or lifetime annuities, allows individuals to increase both their withdrawal rates and equity allocations," says the adviser to individuals, institutions and financial...
ASPPA criticizes two Obama budget proposals
As if he relishes poking Brian Graff in the eye, President Obama included two elements in his 2015 budget proposal that especially irk the CEO and executive director of...
Public savings plan proposed for private sector workers in CT
Following the lead of groups in California and a few other states, labor organizations in Connecticut are backing legislation to create a public, IRA-based retirement plan for workers in...
Strengthen Social Security now, AAA urges
In a new white paper, the American Academy of Actuaries has reiterated its recommendation that the Social Security program be put on a permanently solid financial footing, but did...
AARP points out income-related variations in Medicare premiums
The standard Medicare Part B premium is $1,258.80 a year and covers about 25% percent of Part B program costs, according to a new AARP Fact Sheet. People with...
RetirePreneur: Laura Varas
'To me, retirement is the most interesting area of finance because it’s about how we live our lives,' says Hearts & Wallets consultant Laura Varas. 'We should give people...
Our 401(k) System, in Black and White
Bloomberg and Strategic Insights gave two opposing views of defined contribution plans in separate reports in recent weeks. Bloomberg reporters called DC plan sponsors stingy. Strategic Insights, in a...
FIAs Come In From the Cold–Sort Of
In this first of a series of RIJ articles on the evolution of fixed indexed annuities, you’ll hear from people at three broker-dealers: One who embraces them, one who...
