Inspira, a $20 million IRA recordkeeper, and GuidedChoice, say they can turn small, unprofitable rollover IRAs into revenue generators for a wide range of big recordkeepers and others. "This industry is begging for reinvention," says Inspira's Pete Littlejohn.
Franklin Templeton SVP Drew Carrington says his firm's Defined Maturity Funds, which work like bond ladders, could provide retirement income for 401(k) participants, and could be paired with qualified longevity annuity contracts.
A mortality and longevity expert at Willis Towers Watson writes that 'the variability of the mortality impact by age makes the impact highly variable by type of insurer.'
Negative real interest rates have become a disincentive to personal savings, especially among lower-income Americans who will rely heavily on Social Security and Medicaid anyway, this team of economists from Stanford suggests.
Many owners of variable annuities with lifetime income riders are not using their benefits as efficiently as they could, Ruark found. They often draw down too much or too little of their money, thus degrading or not taking full advantage of the insurance features.
The oft-cited “four percent rule” for a safe withdrawal rate in retirement is unfamiliar to seven in ten Americans (69%), according to a survey by The American College. Sixteen percent think it's safe to withdraw 6% or even 8% per year.
“At the beginning of this year we started giving our wholesalers iPads instead of laptops,” said Jackson vice president Luis Gomez. “As they visited advisors and went through their stories on the iPads, the advisors started asking, ‘Is that available for me?’"