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.
To make sure that the glide paths of plan participants' TDFs lead to a 'safe landing,' asset manager AllianceBernstein has enlisted three insurers--AXA Equitable, Lincoln and Nationwide--to equip them with stand-alone living benefits.
Manish Malhotra’s FIAP platform, set to launch next year, will enable advisors to build retirement income streams out of laddered TIPS, immediate annuities, and withdrawals from balanced portfolios.
The "Zero Plan" proposed by the co-chairs of the National Commission on Fiscal Responsibility and Reform last week calls for the end of $1.1 trillion in tax breaks. The co-chairs would save Social Security through a combination of reduced benefits and higher taxes.
For the second time since the financial crisis, Prudential has reduced the richness of the living benefit riders on its popular Highest Daily series of variable annuities.
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.
Costs on a 100-participant plan with a $50,000 average account balance range from .57% to 1.76%, according to the 11th edition of the 401k Averages Book.
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.
James Bullard argued that QE has no impact on the longer-run U.S. fiscal outlook and that this outlook remains very poor no matter what the Fed does.
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.
Late-breaking items about Sun Life, Genworth, J.P. Morgan, MetLife, the SPARK Institute, Fred Reish and Bosnia-Herzogovina.
Over the weekend, retirees may have lost the first battle of the generational war.