The Great Recession is just the latest financial ‘black turkey,’ said the CFA Institute's Laurence B. Siegel at the Morningstar/Ibbotson conference in Orlando.
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.)
The legendary Roger Ibbotson told money managers that there’s hidden gold in low-turnover stocks.
Ibbotson president Peng Chen asks, “Are you a stock or a bond?”
“We continue to see significant interest in liability driven investing (LDI) from plans looking to limit their exposure to volatility,” said Peter Austin of BNY Mellon Pension Services.
Those who defer retirement to rebuild their savings may be far outnumbered by those forced to retire early by unemployment, according to National Bureau of Economic Research paper.
When the deal goes through, AIG is expected pay about $31.5 billion to the Federal Reserve Bank of New York, cutting its debt to the New York Fed to about $45 billion.
Among other things, the change reflects the recent transfer of Pac Life's structured settlements and retirement annuities business to the division.
A unit of Britain's Prudential plc, Jackson National Life sold $10.0 billion in variable annuities during 2009, up from $6.5 billion in 2008.