Why Prudential Sells the Most VAs

Constant proportion portfolio insurance, or CPPI, has helped Prudential attract crowds to its Highest Daily VA. Now other insurers are wondering if they should employ CPPI.

Annuities and the Charles Schwab Deal

Most of the annuities now on the Charles Schwab and TD Ameritrade platforms are offered by mutual or foreign-owned life insurers. Lincoln Financial is the sole exception.

Marshmallows and Social Security

Should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then? The Center for Retirement Research at Boston College proposes that strategy as a default option in retirement plans.
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Details of the tax compromise revealed

The package would cost about $900 billion over the next two years, to be financed entirely by adding to the national debt, according to The New York Times.

Treasury to sell last of its stake in Citigroup

A person briefed on the transaction said it would be priced at $4.35 a share, a 2% percent discount. At that price, taxpayers could profit by $12 billion on the Treasury’s investment in Citigroup.

UK pensioners brace for new retirement drawdown rules

Retirees will probably be allowed to spend their savings at the rate they wish as long as they have at least enough guaranteed income to keep themselves from needing public support in retirement.

The Bucket

Late-breaking items about Sun Life, Genworth, J.P. Morgan, MetLife, the SPARK Institute, Fred Reish and Bosnia-Herzogovina.

The Tax Deal Feels Wrong

Over the weekend, retirees may have lost the first battle of the generational war.