The revelation of a novel share class of variable annuities--its working title is "O" shares--was perhaps the most interesting piece of news that emerged from the IRI Marketing conference in Washington, D.C., last week.
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.)
Tom Mullen, vice president of marketing, John Hancock Annuities, explains that his firm's simple VA contract fell flat, but that other efforts at simplification have worked. Recorded at IRI Marketing Conference.
Tim Burke, principal, Insurance Solutions, at Edward Jones, explains how switching exclusively to a new "O" share VA contract will make the annuity sale easier. Recorded at IRI Marketing Conference.
The bill would require benefit statements to include the annuity equivalent of an employee’s benefit, while providing a "clear path to avoid liability."
The new tool will measure tracking error, estimated holding cost, market impact cost, and portfolio concentration.
A Dutch TV program accuses the country's pension fund managers of over-weighting equities for the past two decades.
“While the S&P 500 still sits about 8% south of its year-end 2007 level, our Hedge Fund Index is up about 8%," said Vincent Deluard of TrimTabs.
British women have a median balance of just £9,100 ($14,620) in their defined contribution “pension pots,” while men have a median balance of £52,800 ($84,820).