England’s Search for a DC/DB Hybrid

The U.K.’s pension ministry has proposed ‘defined ambition’ as a remedy for the country’s retirement savings ills. ‘DA’ is a hybrid of DC and DB, but remains otherwise undefined. Pictured: A worker at a Morrisons supermarket in Britain.

How Debt Affects Retirement

“Remaking Retirement? Debt in an Aging Economy," was the theme of the 65th annual symposium of the Wharton School's Pension Research Council, held last week in Philadelphia. (Photo: Kitchen and retirement makeovers sometimes occur in tandem.)
Anecdotal Evidence

It’s No Joke: The Fed’s Comic Book is Wrong

The educational comic book from the New York Fed means well but perpetuates the myth that money was created in the private sector to facilitate barter and enabled commerce to flourish. History shows otherwise.
Anecdotal Evidence

Annuities that Pay Cash Back Rewards

Gainbridge, a insur-tech startup, aims to sell fixed deferred and period certain income annuities online. Its sister company, Relay, uses annuities to fund cash back rewards cards. Both firms are part of Group1001 (formerly Delaware Life Holdings).
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Anecdotal Evidence

Sun Life downgrade follows Guggenheim deal

The rating actions follow the December 17, 2012 announcement by SLF of its agreement to sell its U.S. annuity and certain life insurance business lines to a Guggenheim Partners-led investor group for approximately $1.35 billion.
Anecdotal Evidence

Morgan Stanley expects fiscal cliff to be hardly a speed bump

Central banks in developed countries are holding short-term rates down to induce investors to shift into riskier, higher-yielding assets, says Morgan Stanley's Global Investment Committee Monthly report for December. The bank says it doesn't intend to 'fight the Fed.'
Anecdotal Evidence

The Bucket

Brief or late-breaking items from MetLife, Thrivent for Lutherans, The Financial Planning Association, Towers Watson, Cogent Research, Security Benefit and the New York Stock Exchange.
Anecdotal Evidence

RIJ will not publish next week

Retirement Income Journal and RIJAdvisor will not be published during the week of December 24-28, in observance of the holidays. We thank all of our subscribers and advertisers for their support of our mission during the past 12 months and for helping make 2012 our best year yet. We'll see you in the New Year.