"Save like you will retire, but live like you won't," is part of Alfred's personal retirement philosophy. He is co-founder and CEO of BrightScope, the first firm to rate retirement plan quality and publish the ratings on the Internet.
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.)
“The unwinding of QE is a place we have never been before," says Phil Chiricotti, president of CFDD. The effects, and the end, of quantitative easing were also on the minds of Vanguard's Ken Volpert and the analysts at Cerulli Associates.
The rate suppression that QE has imposed on developed countries since 2009 triggered a search for yield that flooded emerging economies with short-term “hot” money, warns the former chairman of Morgan Stanley Asia.
Francois Hollande’s government conspicuously ignored some of the recommendations that the European Commission had made to it regarding pension reform.
The IRI explains why people would purchase a DIA and how they can use DIAs (by creating sequential or overlapping layers of DIA income in retirement) to maintain inflation-protected income throughout retirement.
“If the DOL requires lifetime income illustrations to be provided on participant statements, sponsors and service providers should have the flexibility to project retirement income using a systematic withdrawal approach,” Vanguard’s official comment letter said.
Brief or late-breaking items from Beacon Research, Athene Annuity, ADP, ING U.S., and Ruark Consulting.