Bob Pozen Knows Retirement

'My proposal was to link the growth of Social Security benefits of the upper third of earners to CPI growth while letting the benefits of the lower third of earners continue to rise with the wage index,' said the former president of Fidelity Investments in this wide-ranging interview.

Research Roundup

Almost every controversial subject in the US today--from Fed policy to machine learning to immigration--contains an element or theme related to retirement policy. The articles reviewed in this month's Research Roundup are proof of that.

‘iTDFs’ Smooth the Bumps of Retirement Income

A former chief actuary of Denmark seeks a US target date fund company that might use his technology, the 'iTDF,' to create a seamless transition from pre-retirement savings to safe income during the first 20 years of retirement.

A Revolt Against PE-Led Annuity Issuers

Matt Zagula is an annuity wholesaler and fixed indexed annuity (FIA) designer. He and forensic accountant Tom Gober created the TSR ratio, a scale for rating FIA issuers. Mutual and fraternal insurers score best; private equity-led life insurers score worst.
Featured

The Perils of Fed Gradualism

Our guest columnist wants interest rates to rise faster. 'A steeper normalization path would produce an outcry,' he writes. 'But that would be far preferable to another devastating crisis.'

Damage Assessment: Who’s Hurt by New Fiduciary Rule?

Advisors who sell on commission, I-banks that underwrite securities and sell them through their own broker-dealers, and recordkeepers that capitalize on their access to participants should all beware the DOL's impending conflict-of-interest rule, says Cerulli Associates.
News

New ERISA Advisory Council members appointed

Three represent the public, three represent employers, and three represent employee organizations. The fields of insurance, corporate trust, actuarial counseling, investment counseling, and investment management and accounting have one representative each.

Schlichter law firm sues Insperity over high plan fees

The complaint alleges that “Insperity breached its fiduciary duties by causing the plan participants to pay millions of dollars in excessive recordkeeping fees to Insperity’s proprietary subsidiary, Insperity Retirement Services," according to a law firm press release.

Retirement assets dip to $23.5 trillion in 3Q2015: ICI

IRAs, since 2007 the largest component of US retirement savings, held $7.3 trillion in assets at the end of the third quarter of 2015, down 4.8% from the previous quarter, ICI reported. Almost half of IRA assets, or $3.4 trillion, was invested in mutual funds.