"We may be at an inflection point, with the first carriers beginning to tweak products in small ways for competitive advantage despite the ongoing low interest rate environment," writes John McCarthy, Product Manager, Annuity Solutions, at Morningstar Inc.
Wells Fargo Asset Management's new target-date series of CITs comes with a built-in, optional retirement income strategy: systematic withdrawals plus an annuity starting at age 85.
In her new book, 'The Deficit Myth,' Stephanie Kelton explains Modern Monetary Theory--and how we can afford a lot more as a nation than we think we can.
The deal, part of a trend in private-equity acquisitions of life/annuity properties that began a decade ago, makes KKR about one-third larger. The trend tailwind: low rates.
"Notwithstanding eight figure earnings per year during that period, CEI and Cornwell learned that their net worth, while substantial, was the equivalent of only approximately one year’s net income," according to the 2009 complaint.
Overall, annuity sales were $52.6 billion in the fourth quarter, down 8% from the previous year. For the year, annuity sales dropped 8%, tallying $219.4 billion. Variable annuity sales totaled $147.4 billion in 2012, down 7% from 2011.
AIG reported significantly improved profitability in the first nine months of 2012, with net income of $7.6 billion relative to a modest net loss in the prior year period. Life & Retirement’s pre-tax income rose 22% in the same period, year over year.
“By instituting the referral incentive, we are hoping to debunk common myths about retirement plans and help Americans at businesses of all sizes effectively save for their retirement,” the Online 401(k) said in a release.
Brief or late-breaking items from Nationwide, MetLife, Northwestern Mutual, and Jefferson National.
"The business man is only tolerable so long as his gains can be held to bear some relation to what, roughly and in some sense, his activities have contributed to Society"--John Maynard Keynes, Essays in Persuasion, 1931.
The work of well-known business feature writers like Malcolm Gladwell, Ken Auletta, John Cassidy and James Surowiecki will be featured on the site.