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.
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.
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?
The humble fixed indexed annuity is at the center of the restructuring hurricane that has swept through the life insurance industry in recent years. We bring you the second article in a series on the topic.
“Agents have told us that they want to lead with the income story and don’t want to complicate it with indexing methods," said Brian Grigg, vice president of annuity distribution at Fidelity & Guaranty Life, which Harbinger bought from Old Mutual plc in 2011.
If the retirement plan space were Dodge City, do you think that a fiduciary rule would A) Clean up Dodge City for the benefit of all or B) Sterilize Dodge City of all commercial activity, to the detriment of all? That may be the essence of the fiduciary debate. Is there room for compromise? Apparently not.
Once a leader in VA sales, Hartford is now a receder. In a May 1 SEC filing, it gave existing contract owners an October 4 deadline to choose between reducing their risk profiles and losing their living benefit. Having left the annuity business, Hartford may have much to gain by the move and little to lose--except perhaps more of its reputation.
The members of the General Employers' Association Netherlands met recently to discuss the transition from defined benefit to defined contribution plans and to explore pension-cost reduction. There was a tie-in to the US via Dimensional Fund Advisors' European chief.
This late-breaking story contains a link to the prospectus, filed May 15 with the SEC, for a new contingent deferred annuity, also known as a stand-alone living benefit, or SALB. The product is designed for the registered investment advisor channel.
Brief or late-breaking items from Transamerica, Genworth Financial and the National Institute on Retirement Security.
"Money, like information but unlike material objects, can, by assuming different forms, be made to exist in more than one place at a single time"-- George B. Dyson, "Darwin Among the Machines" (1997).