The Future of Variable Annuities

By Kerry Pechter
Ken Mungan and Casey Malone of Milliman, Chad Slawner and Guillaume de Gantes of McKinsey, Tim Paris of Ruark Consulting, Jerry Golden and Moshe Milevsky share their visions of the future of the variable annuity business.

Where to Get Old Variable Annuities Appraised

By Kerry Pechter
Advisor Mark Cortazzo’s new business, Annuity Review, is aimed at alerting VA owners to the hidden value in contracts that they might otherwise surrender or misuse.

Measuring You for an ERISA Suit

By David Lindorff
There are “people out there” who are “running algorithms to spot good targets for excessive fees lawsuits,” said Jason Roberts, CEO of Pension Resource Institute in Manhattan Beach, Calif.

The Borzi Ballet

By Kerry Pechter
In this 3-min. video, Assistant Sec. of Labor Phyllis Borzi responds to IRI CEO Cathy Weatherford's question about Borzi's anticipated re-proposal of a "fiduciary rule" for retirement plan advisors. They and Deputy Assistant Sec. of Treasury Mark Iwry discussed retirement regulatory issues at this week's IRI conference in Washington, D.C.
Featured

Legal Deception: The M&E Fee

By Editor Test
To make variable annuities more transparent and rehabilitate their reputation, start by not hiding commission recovery behind the so-called “mortality and expense risk” fee.

Lower-than-expected lapse rates led to VA charges: Moody’s

By Editor Test
“Companies have some flexibility in deciding when to account for a change and when to take a charge,” said Neil Strauss of Moody's. “It’s a ball that can be kicked down the road. If policies go out-of-the-money, the lapse rates will be less of an issue."
News

Reverse mortgage program under stress

By Editor Test
Instead of eliminating another popular product for older Americans, the Federal Housing Administration would prefer to detect and screen out applicants who are likely default on their reverse mortgage loans, the New York Times reported.

New report from Fitch Ratings on interest rate climate

By Editor Test
This news item, which summarizes Fitch's "Good, Bad and Ugly" scenarios for future interest rate movements, contains a link to a copy of a new Fitch report, "Heightened Interest Rate Risk for U.S. Life Insurers."

MetLife not ‘too big to fail’: CEO Steven Kandarian

By Editor Test
“To be clear, I support prudent regulation of the life insurance industry. After all, we are financially liable for insolvencies through the state-based guaranty funds. What I do not support is a regulatory system that creates an unlevel playing field," Kandarian said.

NEST shifts assets to U.S., absorbs €1.6 m fraud

By Editor Test
The U.K.'s national publicly-supported defined contribution plan increased investment in North America to 35.9%, its single largest regional exposure. Allocation to Continental Europe, up nearly 3 percentage points, now accounts for 18.4% of investments.

The Bucket

By Editorial Staff
Brief or late-breaking items from the Employee Benefit Research Institute, Lincoln Financial, Transamerica, Employee Fiduciary, The Principal and NEST.