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.)
We summarize four recent papers: 'Portfolios for Long-Term Investors,' 'What is the Value of Annuities?,' 'Public Economics and Inequality: Uncovering Our Social Nature,' and 'Financial and Total Wealth Inequality with Low Interest Rates.'
How will variable annuity contract owners use their income benefits? That question is vital to annuity issuers and to fiduciary advisers with clients who own VAs. This Texas Dep't of Insurance actuary knows a product that can help them find out.
Bloomberg reported this week that Prudential is considering selling its retirement plan recordkeeping business. Prudential didn't confirm the report, but several industry insiders did. Low interest rates, high costs of IT makeovers, and sticky stable value fund guarantees are driving the move, RIJ was told.
In making a tie-breaking vote, Chief Justice John Roberts allowed the so-called "individual mandate" of the Affordable Care Act to stand, on the grounds that the penalty for not buying health insurance is a tax, and that Congress has the power to tax.
Hank Kim of NCPERS says that the recent Pew Public Pension Report paints an overly bleak portrait of the present and future financial condition of state pensions.
In its developmental stage, SAFE has been closely affiliated with NAFA, the National Association for Fixed Annuities. With the approval of SAFE as a 501(c)3 organization, it will operate independently, according to a release.
But Pension Minister Steve Webb said he intended not to act but to follow the example of Denmark and Sweden, which recently announced a voluntary floor that could be used by the country's pension providers.
Mortimer J. “Tim” Buckley, managing director, will assume the role of chief investment officer upon Mr. Sauter’s retirement.
On the upside, investors in the product participate in positive index returns up to a cap. On the downside, AXA Equitable will absorb the first -10%, -20% or -30% of loss, depending on the selected index and duration.
The newest Retirement Planscape report from Cogent Research indicates that sponsors of retirement plans of all sizes are becoming more assertive in making sure their participants will be financially secure later in life.
Poor investments and rich benefits play a role in state pension underfunding, but they are insignificant compared to the lack of full contributions, writes Chris Tobe. SEC and the ratings agencies have neglected deliberate underfunding of the plans, he says.
Jeremy Grantham and William Bernstein spoke at the Morningstar Investment Conference, and Morningstar handed out a recent study in which its analysts compared five different retirement withdrawal strategies--and chose the most efficient.