Wade Pfau’s Income Expert Success Tools

Here's the "RISA" method for matching retirees with income-generation strategies, from Wade Pfau, Ph.D., of The American College and RetirementResearcher.com, and his colleague Alejandro Murguia, Ph.D. ("RISA" is Spanish for "smile.")
Anecdotal Evidence

People are Talking about “OIDs”

The California Insurance Commissioner fined Jefferson National Life (owned by Nationwide) after an 86-year-old contract owner claimed that she didn't understand the variable annuity that her Investment Advisor Representative had recommended.

Honorable Mention

Two senior promotions at AIG Life & Retirement; Allianz Life annuity to be offered in Morningstar 401(k) managed account; Multiemployer plan funding reaches highest level since 2007: Milliman.

New Jackson VA’s living benefit has one payout option: 4% at 65

In keeping with Jackson National tradition, this variable annuity contract offers a living benefit without investment restrictions. But the single payout rate at age 65 is virtually the same as the presumed safe withdrawal rate from a risky portfolio.

Large US life/annuity insurers continue to de-leverage: AM Best

Total debt outstanding decreased by approximately $8 billion (or 8.1%) to $91.4 billion at year-end 2020. Prudential Financial reduced its total debt obligations by $6.3 billion in 2020, the largest dollar decrease of all the companies.


August 12, 2021

The Day the Gold Standard Died: 50 Years On

On August 16, 1971, I was cashing an American Express travelers check in a small bank in Melun, France. The tellers were nervous. Something huge had clearly just occurred in the macroeconomy.
August 5, 2021

Athene Takes Another Bite at Pensions Apple

In a pension risk transfer deal, Athene Holding will acquire about $4.9 bn in pension assets and liabilities from Lockheed Martin. But when do these deals become too much about investors and AUM and...
July 29, 2021

Research Roundup

We bring you summaries of two papers on the federal debt (and why low interest rates don't justify more of it), an essay on why Biden's infrastructure spending plan shouldn't need budget offsets, a...