Two recent reports from different organizations paint very different portraits of retirement readiness in the U.S.
At the LIMRA-Society of Actuaries Retirement Industry Conference in Baltimore last week, Scott Stolz from Raymond James, Greg Jaeck from Edward Jones and Jarrod Fisher from Simplicity Financial Distributors delivered frank opinions about annuities and annuity issuers.
Many factors are driving the increase in indexed annuity sales: More manufacturers, better products, more distributors, competitive commissions, aging boomers, and relaxed regulation. But does the bubble contain the seeds of its own deflation?
Israel has found that even a mandatory defined contribution system can’t resolve all of the behavioral, economic, or administrative issues that prevent low-income and minority workers from saving for retirement. (Photo: Mahane Yehuda market in Jerusalem.)
E*Trade, TD Ameritrade and Merrill Edge all dangle a $600 signing bonus to people who open new brokerage accounts with cash--lots and lots of cash, it turns out.
West Coast CFP, CPA and RICP Robert Klein has jumped on the retirement bandwagon, recasting his business as the Retirement Income Center, becoming a MarketWatch RetireMentor and putting fixed indexed annuities at the center of his practice.
At any given life stage, a new research paper says, people tend to manage their investments in one of three ways: by doing nothing (“inertia”), by doing it themselves (“self-management”) or by consulting a financial advisor (“delegation”).
The Czech experiment with a voluntary, auto-enrolled national defined contribution plan (a "second pillar" plan to supplement the primary pay-as-you-go plan) will end. Balances will be rolled into the optional "third pillar" supplemental pension. Confusing? Czech!
By using the managed-volatility funds, VA contract owners can get a lifetime withdrawal benefit rider without having to put at least 30% of their assets in fixed income investments.
Overall, Fitch’s near-term outlook for the life insurance industry was “stable,” assuming no major interest rate spikes, no international crises and a continuation of the weak recovery, modest GDP growth and high unemployment.
In a linguistic gesture that may dismay some fund companies, the report refers to “volatility funds" when describing managed-volatility funds.