How to improve public pensions: SoA panel
In April 2013, the Society of Actuaries commissioned the SOA Blue Ribbon Panel to address burning questions about public pension funding. The results of the Panel’s work were published...
LIMRA: Annuity sales strongest in 11 years
Indexed annuity sales set a new quarterly record of $11.9 billion, an increase of $1.7 billion from the third quarter. For 2013, indexed annuity sales totaled $39.3 billion, up...
Prudential’s New Edge: Dynamic Rate-Setting
To reduce interest rate risk exposure, Prudential has adopted a protocol that allows it to change roll-up rates and payout rates on its living benefit riders within a month,...
Prudential’s New Edge: Dynamic Rate-Setting
"If manufacturers can be more dynamic in reacting to changing conditions they don't have to set prices as conservatively. That should benefit investors," said a competitor about Prudential's ability...
Must-Read Income Research of 2013
Many outstanding research papers on retirement income were published in 2013. The ten described here contain ideas that annuity product developers, annuity marketers and financial advisers can apply to...
BlackRock’s Non-Insured Path to Predictable Income
The five new CoRI Funds may appeal to near-retirees who currently have a lot of money in bond funds and are afraid that those funds will lose value as...
MetLife exits U.K. bulk annuity market
The MetLife-Rothesay deal, still subject to regulatory approval, will move around £3bn (€3.7bn and $5.1 billion) in assets between the insurers.
In the U.K., “collective DC” beats “pure DC”: Aon Hewitt
Collective Defined Contribution (CDC), a hybrid of DB and DC with centrally managed assets and a variable income stream, may be the next big thing in the UK retirement...
What Boomers want, and when they want it: Hearts & Wallets
“Advice source consolidation begins three to four years ahead of retirement, heats up during the retirement event and continues the first three to four years of retirement,” said the...
2014 will be a good year for insurers: Conning
"Regulatory convergence and complexity are commanding insurer attention and resources. Fragmented economic growth is creating new pockets of growth, while challenging established markets," says Conning's 2014 U.S. and Global...
U.S. economy faces four headwinds, economist warns
Economist Robert J. Gordon of Northwestern disagrees with the “techno-optimists” who believe that the U.S. is on the cusp of a surge in technological change. He thinks we’re already...
Send in the Robots (Don’t Bother, They’re Here)
At the "T3" financial software trade show last week, a pair of robots warmed up the crowd with jokes about the limitations of high-tech planning tools. RIJ visited with...
The Bucket
Brief or late-breaking items from ING U.S. (Voya), MassMutual Retirement Services, Securian, New York Life and MetLife.
Mutual funds gain 20% in 2013: Cerulli
With $74.7 billion, Vanguard added the most of net inflows of any mutual fund manager. Dimensional Fund Advisors followed with $22.5 billion, J.P. Morgan with $21 billion, MFS with...
Most plan sponsors shun income options: Callan
The most common reason among plan sponsors for not offering retirement income options was concern about fiduciary implications
Prudential launches new version of Highest Daily GLWB
In the latest iteration of Prudential's Highest Daily guaranteed lifetime withdrawal rider, contract owners must put 10% of premium into a fixed-rate fund. Like its predecessors, this version of...
Are You Being Served?
After my father died, I called his reverse mortgage lender and said the house was theirs. Little did I know that I'd get "sued," that the house had to...
Video: RIJ Editor at The American College
In this video, Retirement Income Journal publisher and editor Kerry Pechter chats with David Littell of The American College about opportunities and challenges that await advisers who choose to...
The federal income tax turned 100 this week
"The need to fund our involvement in World War I moved income taxes to the center of federal finances," the U.S. Census Bureau reported this week, in noting the...
Half of U.S. women fear becoming ‘bag ladies’—Allianz Life
Despite growing confidence among women, “Irrational fears about losing it all and becoming a bag lady remain,” said Katie Libbe, Allianz Life vice president of Consumer Insights, which sponsored...
