In touting his firm's LifePath TDF-based deferred income option, Chip Castille of BlackRock emphasized that insurers should position in-plan annuities as retirement income enhancers rather than longevity risk mitigators. (I.e., appeal to greed, not fear.)
Most of the annuities now on the Charles Schwab and TD Ameritrade platforms are offered by mutual or foreign-owned life insurers. Lincoln Financial is the sole exception.
In MassMutual's new all-digital deferred income annuity, an adult child is the owner, and receives income when a parent (the annuitant) reaches age 91.
Should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then? The Center for Retirement Research at Boston College proposes that strategy as a default option in retirement plans.
The product enhancements are part of a series of investments The Hartford is making in its annuity business in recent months, the company said.
Lifetime withdrawal benefit exercise rates rose with in-the-moneyness and age of contract owners, according to Milliman's survey of 18 variable annuity issuers, including 11 top-20 issuers.
"A big bulls-eye has been painted on the employer-sponsored defined contribution system," writes the president of the Profit Sharing Council of America.
U.S. stock funds recorded their first significant outflows of the year, as the asset class lost $4.5 billion in May.
“The campaign is meant to reinforce the thinking validated by academics, that income annuities are a valuable asset class for retirement portfolios," said Steve Fisher, chief marketing officer for Retirement Income Security at New York Life.
In its 5-4 decision on Janus Capital Group, Inc. v. First Derivatives Traders, a lawsuit first filed in 2003, the high court held that liability for allegedly misleading statements in Janus' mutual fund prospectuses did not extend to the funds' investment advisers.
Brief and late-breaking items from Vanguard, the MetLife Mature Marketing Institute, Lincoln Financial Group and eRollover.