A Death in the Family, Part I
For the very old and their families, preservation of life often competes with preservation of finances. Here's how one California family coped with an elderly mother's death. (The first of two parts.)
Genworth Exits the VA Race
“They’re editing their lineup,” said Eric Berg, an analyst at Barclays Capital. “They’re getting out of the businesses where they lack meaningful size." (Above, Genworth CEO Mike Fraizer.)
Why We Retired Our Pensions, and How to Revive Them
An ambitious new book, The Decline of the Traditional Pension, captures the state of public, private, domestic and global pensions with scholarly rigor.
A ‘Turbit’ Drawdown Strategy
In a recent paper, two Vanguard CFPs detail the merits of a hybrid between the ‘turtle’ and the ‘rabbit’ approaches to decumulation.
Featured
BMO Offers Non-Insured Lifetime Income Product
The Bank of Montreal's Lifetime Cash Flow product pays out 6% of principal per year for life after a 10-year deferral period. After-tax principal is paid out tax-free for 15 years, followed by taxable payments.
The Latest on TDFs (from Vanguard, ASPPA, SPARK, et al)
The DoL's January 14 deadline for comments on proposed new rules for target-date fund disclosures has produced a flurry of research, recommendations and opinion about TDFs.
News
Most Investors Understand TDFs: Vanguard
But Vanguard's newly published survey also showed that only 62% of its DC plan participants who own TDFs have heard of a TDF, and only 24% know that the asset allocation changes after the target date.
2010 saw modest gains in global pension funding: Aon Hewitt
The analysis found that the funded status of global pension plans were 87% at the end of 2010, up slightly from 86% at the beginning of the year.
BNY Mellon study notes funding pressures on US retirement plans
A DC/DB hybrid plan may be the best solution for employers and employees if employer costs can be controlled, a study by the firm's Asset Servicing division found.
U.S. Treasury now owns AIG
“We continue to believe will realize a profit on their investment in AIG,” said Robert H. Benmosche, AIG president and CEO.
QE 1 & 2 boost stocks, not economy: TrimTabs
The S&P 500 rose 67% during QE1, the period from March 2009 to March 2010, but fell 13% after the first round of quantitative easing ended.
The Bucket
Late-breaking briefs about AXA Equitable, Prudential Financial, Principal Financial, MassMutual, Securian, TIAA-CREF and FINRA.
The 800-pound Irony of TDFs
The DoL wants TDF managers to disclose more information to plan participants. But the real problem may lie with plan fiduciaries, and current TDF designs.
