Closer to Where You Belong

Whither the variable annuity business? We asked Bruce Ferris of Prudential, Liz Forget of MetLife, Eric Henderson of Nationwide Financial, Dan Herr of Lincoln Financial Group, Richard Moran, formerly of Symetra, Alison Reed of Jackson National Life Distributors, and Cathy Weatherford of the Insured Retirement Institute.

Who Rules the Top 1%?

Private businesses and partnerships lead most often to the top wealth brackets in the U.S., new research shows. In this edition of Research Roundup, we bring you summaries of research on variable annuity sales, the Fed's response to the March 2020 crash, and more.

The Sacrificial Payroll Tax

Idle talk about suspending the payroll tax is making 'blue' Senators blue. We get answers from Social Security expert Eugene Steuerle of the Urban Institute.

An Income-Generating ‘Collar’

Using a 'protective net-credit collar,' the Nationwide Risk-Managed Income ETF has distributed monthly income at an annual rate of 7.88% in 2020, while appreciating 10%. Is there a catch?
Featured

SPIAs Are Slow to Pay Off: Kitces and Pfau

New research from Michael Kitces and Wade Pfau suggests that many people—especially if they don’t live longer than average—would be better off starting out with half their money in stocks and half in bonds, and then gradually reducing their bond allocation over time.

Law Professor Goes Postal

Yale law professor Ian Ayres sent a provocative letter to thousands of plan sponsors. But his research is more temperate than his mail.
News

UK ponders ‘Defined Ambition,’ a path from DB to DC

A centrally-managed pool of defined benefit funds would aim for a target participant benefit of 1/80th of salary per year of service, based on a combined employer/employee contribution of 20% of salary. But participants would share some of the investment risk.

Prudential’s challenge to SIFI status heard

Prudential announced July 2, the deadline, that it would challenge its designation as a SIFI and seek a hearing. That same day, American International Group and GE Capital announced that they had accepted such a designation, the first non-banks to do so.

The Bucket

Brief or late-breaking items from Nationwide, Spain, New York Life, Transamerica and T. Rowe Price.