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.
Private equity firms have steadily acquired U.S. life insurers and blocks of fixed annuity business and moved the blocks offshore to free up capital. This worries some people.
Micruity, a tech startup with a 30-year-old CEO, says it has the "middleware" that can integrate 401(k) plans and annuity issuers. Will the retirement industry listen?
Wells Fargo Asset Management's new target-date series of CITs comes with a built-in, optional retirement income strategy: systematic withdrawals plus an annuity starting at age 85.
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.