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.
At the LIMRA-Society of Actuaries Retirement Industry Conference in Baltimore last week, Scott Stolz from Raymond James, Greg Jaeck from Edward Jones and Jarrod Fisher from Simplicity Financial Distributors delivered frank opinions about annuities and annuity issuers.
Many factors are driving the increase in indexed annuity sales: More manufacturers, better products, more distributors, competitive commissions, aging boomers, and relaxed regulation. But does the bubble contain the seeds of its own deflation?
Israel has found that even a mandatory defined contribution system can’t resolve all of the behavioral, economic, or administrative issues that prevent low-income and minority workers from saving for retirement. (Photo: Mahane Yehuda market in Jerusalem.)
Jack Marrion and friends offer hard evidence that FIAs pay off when other investments don't. Their analysis is compelling, but I'm not ready to convert.
... Because the fall conference season is about to begin. It starts after school opens and ends by Thanksgiving.
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.
Participants in 14 pension funds in the Netherlands are facing benefit cuts in the wake of the financial crisis.
The glide path for Retirement Choices portfolios features a lower allocation to equities and slopes down at a faster pace than it does for the Retirement Living portfolios.
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.
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.