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.)
At the LIMRA-Society of Actuaries Retirement Industry Conference in Baltimore last week, Scott Stolz from Raymond James, Greg Jaeck from Edward Jones and Jarrod Fisher from Simplicity Financial Distributors delivered frank opinions about annuities and annuity issuers.
Many factors are driving the increase in indexed annuity sales: More manufacturers, better products, more distributors, competitive commissions, aging boomers, and relaxed regulation. But does the bubble contain the seeds of its own deflation?
Israel has found that even a mandatory defined contribution system can’t resolve all of the behavioral, economic, or administrative issues that prevent low-income and minority workers from saving for retirement. (Photo: Mahane Yehuda market in Jerusalem.)
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.