Retrofitting 401(k) plans with lifetime income options is one of the thorniest challenges of our time. We describe three possible solutions to that puzzle, from Nobelist Robert Merton and others, that were featured recently in the Journal of Investment Management.
Our guest columnists, from the Urban Institute, examine the impact of the pandemic on the Congressional Budget Office's projections for the state of US government finances in 2030.
Sammons Financial buys $3 billion Ohio-based RIA/TAMP; MetLife unit completes pension risk transfer deal with Weyerhaeuser; Equitable publishes study on educators' retirement savings rates; National Guardian Life buys Everplans; Caroline Feeney appointed group CEO at Prudential; Pacific Life offers new income-oriented variable annuity.
MassMutual was the sales leader in fixed-rate deferred annuities through the first nine months of 2020, with $5.18 billion in sales. This acquisition makes it an instant player in the fixed indexed annuity business.
The share of collateralized loan obligations in the fixed-income portfolios of life/annuity companies rose to 4.0% in 2019 from 2.7% in 2016, according to the ratings agency.