Few organizations seem to understand the ascendancy of "open architecture" better than the Retirement Income Industry Association, whose mantra is "the view across the silos." Here's a report on its Spring Conference, held this week.
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.
Putnam Investments CEO Robert Reynolds called for a new lifetime income regulatory body and announced a decumulation tool for Putnam funds in a speech at the RIIA meeting this week.
The Retirement Income Industry Association, led by Francois Gadenne, has published the third edition of the text for its RMA certification program, and the first issue of The Retirement Management Journal.
The bad news: America’s households owe even more than the federal government does. The good news: U.S. household net worth—assets minus liabilities--is almost $57 trillion.
Outside of Lake Wobegon, not all advisors are above average—especially when it comes to success in capturing rollover money.
MetLife named Steven Kandarian as its new president and CEO. In 2006, as CIO, he divested MetLife's aging Manhattan apartment complexes for $5.4 billion. They are now valued at $1.8 billion.
ERISA experts Fred Reish and Bruce Ashton offer guidelines for fiduciaries who consider offering a guaranteed lifetime income option within employer-sponsored retirement plan.
Late-breaking or short items from Mutual of Omaha, EBRI, Jackson National Life, Nationwide Financial, and Principal Financial.