In a three-way competition at the CFDD conference, the winning income plan was one that maximized Social Security, converted a 401(k) to a Roth IRA, and rebalanced the remaining...
A Fortune in Reversals
New federal reverse mortgage rules make it cheaper for seniors to tap their home equity for a line of credit.
Making a Case for the 401(k) Annuity
Executives from major plan providers, including Christine Marcks, president of Prudential Retirement, along with trade group officials and ERISA experts, pitched ideas about in-plan income options at DoL/Treasury Department...
“What Investors Really Want”
That’s the name of behavioral economist Meir Statman’s new book. We all yearn for upside potential and downside protection—and maybe a weekly Lotto ticket, he says.
Imperfect Harmony
Hundreds of riled-up advisors and brokers, including Harold Evensky, have responded to the SEC's RFI on "harmonizing" their standards of conduct. Here's some of what they wrote.
Financial Engines’ Secret Income Plan
Financial Engines CEO Jeff Maggioncalda expects his firm to roll out an in-plan income option to DC participants in late 2010 or early 2011. He won't reveal details, but...
Which Are the Hottest VA Brands?
Who do advisors think of first when asked to name a variable annuity provider? The just-published 2010 Advisor Brandscape from Cogent Research reveals that and much more.
The Downside of Upping the Retirement Age
Social Security turns 75 on Saturday, and pressure to raise the claiming age for full benefits is rising. But that would hurt the least well-off most, said experts at...
The Gospel of Matthew Hutcheson
The 40-year-old leader of the “independent fiduciary movement” is passionate about making retirement plans more responsive to the needs of participants.
They’re Relatively Well-Off
The median annual income for people over age 65 in the United States is only $18,000, including public assistance and financial help from friends and family. The average—skewed upward...
On Second Thought, Make That a Single-Dip
Vanguard analysts put the chance of a double-dip recession at about 20%. The bond yield curve suggests only a 6% risk, but the yield curve isn't as reliably predictive...
How Many VA Owners Will Bail Out?
Issuers of variable annuities with income benefits could face lower-than-expected lapse rates and higher reserve requirements over the next 18 months, says Oliver Wyman.
Plugging Leaks in VA Guarantees
VA issuers can’t keep bearing so many of the contract risks. Milliman's Ken Mungan (above) and Deep Patel suggest three ways to make VA manufacturing more sustainable.
For VAs, Roll-Ups Rule
Perhaps unintentionally, "roll-ups," aka deferral bonuses, have arguably become the key feature of variable annuities with GLWBs. But can they save VAs from becoming a niche business?
The ‘Senior’ Senator from Wisconsin
The soft-spoken Herb Kohl (D-WI) fights for retirees as chairman of the Senate Special Committee on Aging, which will hold hearings on retirement income June 16.
You May Live in Interesting Times
Interest rate risk keeps us all in suspense. Here’s how executives at Vanguard, New York Life, Delta Global Advisors, Prudential Annuities, and Loomis, Sayles cope with the uncertainty.
Who’s Winning the Rollover War?
IRAs now hold more money than employer-sponsored retirement plans, and the big beneficiaries are Fidelity, Vanguard and Charles Schwab, says a report from Cogent Research.
From an IVA, New Blood for Insurers
Life insurers, advisors and consumers should embrace his immediate variable annuity (IVA) with a refund option and a death benefit, says Achaean Financial CEO Lorry Stensrud.
Mad About 401(k) Annuities
Part I: ‘Keep Your Hands Off My 401(k).’ Based on their recent e-mails to the Labor Department's RFI, some Americans think Uncle Sam wants to confiscate private savings.
The Savings Sweepstakes
Lottery-like savings programs aren’t widely legal in the U.S., but a Harvard Business School professor believes they could inspire more low and middle-income Americans to save.