A New NEST for British Nest-Eggs

This is the first part of a two-part article on Britain’s ambitious national defined contribution fund for undersavers, a "public option" called the National Employment Savings Trust, or NEST.

‘Smart,’ from UK, Enters the US PEP Market

'Smart' is the recently-launched American branch of a British fintech with expertise in a kind of retirement savings plan that's called a 'master trust' in the UK and a 'pooled employer plan' or PEP in the US. RIJ interviewed two of its top executives.

Research Roundup

Almost every controversial subject in the US today--from Fed policy to machine learning to immigration--contains an element or theme related to retirement policy. The articles reviewed in this month's Research Roundup are proof of that.

‘iTDFs’ Smooth the Bumps of Retirement Income

A former chief actuary of Denmark seeks a US target date fund company that might use his technology, the 'iTDF,' to create a seamless transition from pre-retirement savings to safe income during the first 20 years of retirement.
Featured

The Mid-Point of a Trying Year

A slowing economy, falling interest rates and de-risking strategies made for mixed second quarter results at the major publicly-held annuity issuers (current and former), excepting perhaps Lincoln Financial.

An Annuity Fee Record with an Asterisk

First-time annuity fee reporting from Raymond James Financial of $61 million boosted the quarterly bank/thrift annuity fee income numbers to a record high, according to the latest Michael White-ABIA Bank Annuity Fee Income Report. Morgan Stanley annuity fee income was up 48%.
News

Washington freeze chills the whole economy

Manufacturing executives from across America told the New York Times that they are all but paralyzed by anxiety about the “fiscal cliff” and a potential drop in GDP as a result of reduced government spending.

“Quote” of the Week

“I'm suggesting that be broken up so that the taxpayer will never be at risk, the depositors won’t be at risk, the leverage of the banks will be something reasonable.” – Sanford Weill, former CEO of Citigroup.

The Bucket

Brief or late-breaking items from Insurance Technologies, Securian, Prudential Financial, LPL Financial, and Protective Life.