GuidedChoice is the latest 401(k) advice provider to announce a platform that helps participants turn their savings into income—with or without a rollover to an IRA. (Above: CEO Sherrie Grabot.)
At the LIMRA-Society of Actuaries Retirement Industry Conference in Baltimore last week, Scott Stolz from Raymond James, Greg Jaeck from Edward Jones and Jarrod Fisher from Simplicity Financial Distributors delivered frank opinions about annuities and annuity issuers.
Many factors are driving the increase in indexed annuity sales: More manufacturers, better products, more distributors, competitive commissions, aging boomers, and relaxed regulation. But does the bubble contain the seeds of its own deflation?
Israel has found that even a mandatory defined contribution system can’t resolve all of the behavioral, economic, or administrative issues that prevent low-income and minority workers from saving for retirement. (Photo: Mahane Yehuda market in Jerusalem.)
A return to long-term interest rates of 5% to 6% will hurt Wall Street and McMansion owners in the short-run but help most Americans in the long run, says this columnist.
In an e-mail, GuidedChoice CEO Sherrie Grabot and CIO Ming Wang answered a few of RIJ’s questions about their income planning tool for plan participants.
“We now believe plans and plan service providers would benefit from an extension of the rules applicability date,” said assistant Labor Secretary Phyllis Borzi in a statement.
Britain’s National Employers Savings Trust Corporation is hiring the three asset managers to handle portions of the new state-sponsored, employer-based defined contribution plan.
In a new think tank report, a former JP Morgan banker and Towers Watson consultant suggested that unfunded DB pensions in the U.K. should be closed by 2020 and replaced with "nominal DC schemes."
An estimated $21 billion in net new cash went into US equity funds in January 2011, making it the first month of net inflows to those funds since last April.
“The movie will make it easier for advisors to broach the issue of planning for the costs of long-term care,” said Wealth2k CEO David Macchia.
Late-breaking items from Prudential, Warren Buffett, Aon Hewitt, SPARK Institute, Insured Retirement Institute, Milliman, the Pension Benefit Guaranty Corp., Morningstar, Interactive Data Corp., and John Hancock Annuities.