Obama’s Budget Too Austere for Retirement Industry
There’s outrage and indignation over the administration’s call for a $3 million cap on lifetime accumulations in tax-favored accounts, but only a tiny number of accounts would be affected.
The Five Most Important Retirement Income Decisions
'Many of the decisions presented here are beyond the skills of most pre-retirees and retirees,' writes the author, a research scholar at the Stanford Center on Longevity. 'They’re going to need help.'
A Closer Look at CLOs (and Other U.S. Credit)
Bond mavens, check this out. A new SEC report describes how most of the $54-trillion dollar U.S. credit market survived last spring's financial crisis. It covers securitized 'leveraged loans,' which provide high-octane fuel for fixed indexed annuity issuers.
She’s Got Advice for Life Insurers
'Insurers can't remain wedded to product sales, which are becoming commoditized in a future that trends toward financial advice,' says industry veteran Michelle Richter, who just launched Fiduciary Insurance Services, LLC.
Featured
Funny Money and the Super-Rich
The publisher of The Prudent Bear website blames U.S. monetary policy for empowering tasteless parvenus to leverage their way to the top—or at least onto the Forbes 400.
I’ll Let You Work Out the Details
Is it really true that if you cap a small business owner's tax-deferred retirement accounts at $3 million, he or she will stop offering a plan at all? Sounds like blackmail.
News
Vanguard to offer 401(k) services through TPAs
The move represents an expansion of the Vanguard Retirement Plan Access program, which was introduced in October 2011 to offer bundled services to sponsors of small- to mid-size 401(k) plans and to the fee-only advisors who work with those sponsors.
The Hartford hedges its VA risk in Japan
The company also announced that financial results for the first quarter of 2013 will include a deferred acquisition charge (DAC) of approximately $600 million, after tax.
Poland denies rumors that it will nationalize ‘second pillar’ assets
In spite of those denials, many observers believe the government will still attempt to access some of the assets, due to the need to reduce its deficit in line with the European Union's excessive deficit procedures.
Fitch: Puerto Rico’s bond rating (BBB-) depends on reform
Reforms signed into law in Puerto Rico last week aim to reduce future cash flow deficits in the plan both by increasing payments into the plan and reducing future cash payments out of the plan, Fitch said in a release.
ING U.S. to rebrand as Voya Financial
The operational rebranding process is expected to take approximately 24 months once it is started, and ING U.S. would not use its new name and logo commercially until the operational rebranding process has been completed.
