How did Matthew Hutcheson, once a poster boy for fiduciary rectitude, turn into the wanted-poster man for fiduciary misconduct? But his ill-fated deal for the Osprey Meadows golf course (pictured) in Idaho was just a subplot within a subplot of the 2008 real estate bust.
We summarize four recent papers: 'Portfolios for Long-Term Investors,' 'What is the Value of Annuities?,' 'Public Economics and Inequality: Uncovering Our Social Nature,' and 'Financial and Total Wealth Inequality with Low Interest Rates.'
How will variable annuity contract owners use their income benefits? That question is vital to annuity issuers and to fiduciary advisers with clients who own VAs. This Texas Dep't of Insurance actuary knows a product that can help them find out.
Bloomberg reported this week that Prudential is considering selling its retirement plan recordkeeping business. Prudential didn't confirm the report, but several industry insiders did. Low interest rates, high costs of IT makeovers, and sticky stable value fund guarantees are driving the move, RIJ was told.
The Principal Financial Group is stepping up its individual retirement income business by introducing a new deferred income annuity and engaging annuity consultant Moshe Milevsky, vice president Jerry Patterson told RIJ.
At the LIMRA-LOMA-SoA Retirement Industry Conference in the 'Big Easy' this morning, Bob Kerzner sprang the news that his organizations will sponsor a new retirement designation--for home office employees, not advisors or producers.
The contract offers three interest-crediting strategies – a one-year fixed interest account, an annual point-to-point index interest account, and a monthly point-to-point additive index interest account.
Contract holders can choose from three different point-to-point indexed accounts and a fixed account. In lieu of stronger death benefit guarantees, the product is designed to provide a larger guaranteed income.
According to a New York Life example, if a 37-year-old male purchased a GFIA with a $5,000 IRA contribution and then contributed $5,000 annually for the next 30 years, at age 67 he could receive over $19,000 a year for life.
The assets grew at an annualized rate of 136% from the end of 2009 through the end of January 2013. Northern Trust has approximately $214 billion in DC assets under custody.
The company acquired the '635 Patent and the related Mapping Compliance Information solution in 2010 when it purchased NewRiver, Inc.