In New Brunswick, Canada, city officials and union leaders are experimenting with a new, more frugal kind of public pension that’s based on the principle of “Shared Risk.”
Most of the annuities now on the Charles Schwab and TD Ameritrade platforms are offered by mutual or foreign-owned life insurers. Lincoln Financial is the sole exception.
In MassMutual's new all-digital deferred income annuity, an adult child is the owner, and receives income when a parent (the annuitant) reaches age 91.
Should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then? The Center for Retirement Research at Boston College proposes that strategy as a default option in retirement plans.
The Second City's municipal pensions are underfunded by billions of dollars. The mayor wants Chicago's public employees' unions to make the kinds of concessions that unions in St. John, New Brunswick, recently made, in return for neutral management of plan assets.
“Our major conclusion is that time spent in poor physical functioning is being increasingly compressed into the period just before death,” write David Cutler of Harvard, Mary Beth Landrum of Harvard Medical School, and Kaushik Ghosh of NBER.
"The last 12 months were the best 12-month period for corporate pension funded status in the history of our study," said John Ehrhardt, co-author of the Milliman Pension Funding Index.
“The strong enthusiasm for equities should give contrarians pause,” said David Santschi, CEO of TrimTabs. “Four of the ten largest inflows into U.S. equity funds occurred at the peak of the technology bubble in early 2000.”
Principal Life, First Investors Life, Allianz Life, Lincoln National Life and Lincoln Life & Annuity of NY all filed N-4/A contracts for approval. (Links to contracts included.)
Featured speakers will include Roger Ferguson of TIAA-CREF, Dan Arnold of LPL Financial, Jonah Berger of the Wharton School, Lisa Bodell of futurethink, Joseph F. Coughlin of the MIT AgeLab and others.
J. Spencer Williams, CEO of Retirement Clearinghouse, comments on our cover story last week on "Zombie" 401(k) Accounts.