“The annuity space is book-ended at one end by the SPIA, and at the other end by the VA with a guaranteed lifetime income benefit. Our new product resides somewhere in the middle," says Bruce Ferris (left) of Prudential Annuities.

If quantitative easing and other unconventional monetary policies remain in place for too long, their side effects could be severe – and the longer-term costs very high, warns this ever-pessimistic economist.

Conning's new report is titled, “U.S. and Global Insurance Industry Outlook: Economic, Capital Markets, and Regulatory Challenges Continue—Nothing to Be Gained by Waiting for Things to Get Better.”

Under the “28% cap” proposal, someone in the 39.6% marginal tax bracket could reduce his federal income taxes by a maximum of $14,000 on a deferral of $50,000 into a 401(k) plan, rather than the potential $19,800 tax savings under current law.

The average target date fund expense in a large plan is .98%, while the balanced fund average is 1.12%. The average target date fund expense for a small plan is 1.37%, while the balanced fund average is 1.45%, according to the 13th edition of the 401k Averages Book.

Pension adequacy in Europe “requires active aging strategies, investments in life-long learning of all age groups, the adaption of workplaces to the needs of older workers and new forms of labor-force participation," a European Union officlal said.

The product is intended to enable plan sponsors “to de-risk their pension obligations and stabilize their corporate balance sheets and income statements without affecting plan termination, said a Pacific Life executive in a release.