Perhaps the most pointed aspect of the bill, H.R. 6484, is its requirement that states use Treasury rates, which are historically low, to discount pension obligations and calculate funding requirements.
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is going from one pocket to another,' explains Vanguard's active Treasury fund manager, who expects the stimulus to be withdrawn in 2022.
During a market crisis, a reverse mortgage home equity line of credit (ReLOC) can be a lifeline of ready cash for homeowners ages 62 and older. Don Graves of HECM Advisors Group explains.
A guaranteed income rider makes as much sense on an FIA as it does on a VA and should not be dismissed out of hand, says Garth Bernard, president and CEO of Sharper Financial Group.
Steve Deschenes, senior vice president and general manager for annuities at Sun Life Financial (U.S.), told RIJ, “This is not re-starting the variable annuity arms race. It’s a prudent tradeoff between risk management” and attractive guarantees.
“The agency is changing its withdrawal policy because recent media articles have promoted the use of the current policy as a means for retired beneficiaries to acquire an ‘interest-free loan,’” according to the agency.
Life insurers "are expected to increase the ease of doing business through investments in technology and lower their resource costs through shared services, offshore captives and outsourcing," an Ernst & Young whitepaper said.
After 22 consecutive months of net inflows, municipal-bond funds saw net outflows of $7.6 billion in November.
A study conducted by the Center for Retirement Research at Boston College for the MetLife Mature Market Institute estimates the median inheritance per person at $64,000. $2.4 trillion has already been received.
A Medicaid annuity allows a couple to zero out its assets, qualify for subsidized long-term care for the ill spouse and provide an income for the non-institutionalized spouse by putting money in a particular type of SPIA.
People with defined contribution pension accounts will no longer have to buy annuities by age 75, and may take out up to a years’ worth of funds before retirement.
Late-breaking items from Guardian, New York Life, Milliman, ING, Principal, Allianz Life, EBRI, MassMutual and more...