You've heard of New York Life's Guaranteed Future Income, where clients pay today for lifetime income several years from now. A new NYL product, Income Plus, also locks in future income, but lets policyholders put some money at risk during the waiting period, a recent prospectus shows.
Contingent deferred annuities (CDAs) are income guarantees for managed accounts. Their biggest regulatory hurdle may have been cleared last February, when an NAIC committee agreed that CDAs are annuities and not financial guaranty insurance.
To show that Prudential understands retirement and empathizes with retirees, the insurer created a series of warm, image-building ads in which real-life retirees show-and-tell their own stories.(Above, Linda Guthrie.)
The experts--Louis Harvey of Dalbar, Mike Alfred of Brightscope, David Witz of PlanTools, Phil Chiricotti of CFDD, Jonathan Leidy, CFP, and Tussey v. ABB attorney Jerry Schlichter--talk about what the 401(k) fee disclosure rules will mean.
Advisors in particular will be interesting in Harold Evensky's comments on retirement income planning during this 39-minute after-dinner talk and slide presentation at the Pension Research Council's meeting in Philadelphia last May.
“Trading is a largely instinctive activity, strongly related to the amount of testosterone in the body,” writes Martin Hutchinson, our occasional guest columnist.
A debate rages over where small retirement accounts should go when auto-enrolled participants change jobs. There seems to be no British equivalent of the “rollover IRA.”
BrightScope and Target Date Analytics have released the highlights of Popping the Hood V, the latest in their series of reports on target date funds, fund families and companies.
Financial service firms will focus on retirement income offerings, advisor training: Hearts & Wallets
Having "credible, empirical methodologies" for generating retirement income "will become a competitive necessity" for financial services firms in the future, according to the Massachusetts-based research firm.
Conning Research estimates that at the end of 2011, the individual annuity line held about $1.2 trillion in assets and the life insurance industry's free capital could support an additional $600 billion in new assets.
The combined New York State and New York City tax rates are about 12.7% a year. The combined Texas state and Houston city taxes are zero percent per year.