Retirement Clearinghouse (formerly RolloverSystems) CEO Spencer Williams wants people to consolidate (roll in) their retirement accounts in their current 401(k)s. It would mean fewer ‘stranded’ retirement accounts and less ‘leakage,’ he claims.
'While mimicking the high payouts of an actuarially fair variable life annuity, TSAs would cost significantly less than commercial life annuities,' write Forman and Fullmer.
'We have all these insurance agents selling billions of dollars of fixed indexed annuities. But they have few clues about how the crediting rates have performed,'' says Kent Jacquay. With his Indexalyzer software, he proposes a solution.
Achaean Financial and Ash Brokerage, a large Fort Wayne, Ind., BGA, are partnering on a potential retirement game-changer: Achaean's immediate indexed income annuity, couched in Ash's JourneyGuide planning software. The underwriter has yet to be named.
The expose's whole approach implied, sadly, that even after three decades of exposure to and participation in 401(k) programs, most Americans are still in the dark about them.
"We’re trying to innovate around the concept of combining and creating a single product," Henderson told RIJ.
The lawsuit charges that Fidelity should have offered cheaper, better-performing funds--like Vanguard's--to the participants in its own plan. Fidelity denies the charge and says it contributes up to 17% of pay to participants each year.
Low interest rates “lower the relative profitability of some traditional products while also lowering the cost of borrowing if debt is used to finance the acquisition of these businesses,” Fitch Ratings believes.
When Treasury yields begin to rise, the increase is likely to be gradual, resembling the rise in 2004 rather than the sudden increase which occurred in 1994, BNY Mellon's Standish fixed income unit believes.
The Consumer Financial Protection Bureau recently issued a list of senior designations and policy recommendations, in part based on input from the CFP Board.
Brief or late-breaking items from or about Goldman Sachs, Transamerica Retirement Services, Lincoln Financial Network, Fidelity Investments, and BNY Mellon.