Financial Engines’ Secret Income Plan

Financial Engines CEO Jeff Maggioncalda expects his firm to roll out an in-plan income option to DC participants in late 2010 or early 2011. He won't reveal details, but there are clues to his intentions. Photo by Robyn Basso.

Research Roundup

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.'

An Annuity’s ‘Moneyness’? There’s an App for That

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.

A Chip Off the Old Rock?

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.

Cue the Traveling Music…

... Because the fall conference season is about to begin. It starts after school opens and ends by Thanksgiving.

In Singapore, as in the U.S., Savings Grow Slowly

In Singapore, HSBC Insurance has unveiled a new annuity contract called SecureIncome to help Singaporeans save for retirement. The product appears to beat putting money under the mattress, but not by much.

Dutch Pensioners in a Panic

Participants in 14 pension funds in the Netherlands are facing benefit cuts in the wake of the financial crisis.

New SALB Launched By Investors Capital Corp.

The account combines Investors Capital Advisory Services’ series of asset allocation models with a stand-alone living benefit that offers investors a guaranteed 5% lifetime income stream.

A Snapshot of U.S. Household Debt

As a country, the U.S. owes its bondholders almost $13.4 trillion. As individuals, Americans owe about $11.2 trillion. Unlike the national debt, however, household debt recently fell--for the first time in four years.