Bonnie-Jeanne MacDonald (right or below), a research fellow at Toronto's Ryerson University, proposes a voluntary, tontine-like deferred income annuity called Lifetime Income for the Elderly (LIFE). Canadians could make a one-time payment at age 65 and begin collecting income at age 85 (if they live that long).
A new CANNEX/Greenwald survey shows that about four in 10 pre-retirees expect annual income under $50k in retirement; 23% expect $50k-$75k and 16% expect $75k to $99k. Under 20% expect $100k+.
New cash takeovers have totaled $48.1 billion, and they have would have been $136.9 billion had Broadcom’s bid for Qualcomm succeeded, said TrimTabs research.
'Families with a near-elderly head show a pattern of stubbornly higher indebtedness than in past generations—specifically those in the 1990s,' the EBRI said.
If contract owners can choose to keep the right to take a 10% “free withdrawal” of up to 10% of their premium, their guaranteed interest rate will be 0.25% less.
Annuity industry advocates say that this week's Fifth District Court of Appeals ruling has nullified the DOL fiduciary rule. Others disagree. I question Judge Jones' understanding of how the industry works.
Sales of book value fixed-rate annuities and indexed annuities were higher in the fourth quarter of 2017 than in the same quarter in 2016, according to LIMRA's Secure Retirement Institute.
'A seven-percent loss in sales is an unmanageable hurdle, given the challenges the DOL’s rule had presented,' Moore said in a news release.
Plan sponsors who offer a QJSA option will be able to get qualified annuity quotes from Hueler and purchase annuities for participants in the plan.