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.
For weeks, interesting studies have been gushing from the National Bureau of Economic Research and elsewhere on the economic implications of COVID-19. We've selected and summarized seven of them for you.
AARP's 38 million members can now buy income annuities and fixed-rate annuities on a platform powered by fintech firm Blueprint Income. Buyers get a complimentary annual 'retirement income check-up' from a salaried, insurance-licensed adviser.
The Treasury said this week that it will borrow (and spend) about $3 trillion this quarter, to cover its stimulus promises. Where does that money come from and where does it go? 'The capital is going from one pocket to another,' explains Vanguard's active Treasury fund manager, who expects the stimulus to be withdrawn in 2022.
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.
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%.
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.
Portfolios for plan sponsors have performed well, with assets rising more than seven percent during the first seven months of the year for the typical U.S. corporate plan. But liabilities are growing faster.
In his latest column, Bill Gross (pictured) almost echoes the refrains of Occupy Wall Street, charging that capital has prospered at workers’ and the public sector’s expense.
Though experts recommend a retirement nest egg of at least $1 million, less than half of middle-aged, middle-class DC participants have reached even $100,000, survey shows.
“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.
Brief or late-breaking items from Insurance Technologies, Securian, Prudential Financial, LPL Financial, and Protective Life.