The 40-year-old leader of the “independent fiduciary movement” is passionate about making retirement plans more responsive to the needs of participants.
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.'
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.
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.
With his National Retirement Security Plan, independent fiduciary Matthew Hutcheson hopes to bring lower fees, better management to small and micro retirement plans.
“It's marketed as a gap product, such as between early retirement and pension benefits or to bridge until longevity insurance kicks in,” said Tamiko Toland, an annuity industry analyst at Strategic Insight, Inc.
Alternative investments could be a trap waiting for unwary or unprepared plan sponsors and fiduciaries, Matthew Hutcheson told members of the House Subcommittee on Health, Employment, Labor and Pensions on July 20.
A hypothetical 45-year-old couple should save an extra $90,000 before they retire. At age 55, the same couple year-old should begin saving an extra $82,900, suggests economist Laurence Kotlikoff.
"The absence of standards for sharing necessary information among the insurance product providers and unaffiliated record keepers an impediment to more widespread access to these products," said Spark attorney Larry Goldbrum.
Lobbyists wish to "drastically erode the modest pensions of millions of public sector workers," said Derek Simpson of Unite, Britain's largest union.
Newkirk Products, Inc., has agreed to distribute NewRiver’s Prospectus Express product in the 401(k) and 403(b) markets via Newkirk’s Fund Central platform.