In an effort to de-risk its book of GMIB business, Transamerica Life is offering to buy back the benefit. And one firm, Achaean Financial, wants to help insurers convert some of their living benefits to immediate variable annuities. Is this the start of a trend?
'Smart' is the recently-launched American branch of a British fintech with expertise in a kind of retirement savings plan that's called a 'master trust' in the UK and a 'pooled employer plan' or PEP in the US. RIJ interviewed two of its top executives.
Almost every controversial subject in the US today--from Fed policy to machine learning to immigration--contains an element or theme related to retirement policy. The articles reviewed in this month's Research Roundup are proof of that.
A former chief actuary of Denmark seeks a US target date fund company that might use his technology, the 'iTDF,' to create a seamless transition from pre-retirement savings to safe income during the first 20 years of retirement.
"America’s full recovery is not yet guaranteed. A mix of steadfastness, caution, and good luck is needed for that to happen," writes the CEO and co-CIO of PIMCO.
“Over the long term, management's decision to exit more volatile businesses such as variable annuities and individual life should help de-risk the company," said Fitch in a release.
Retirement Illustrator is intended to help advisors present retirement spending requirements and distribution alternatives, accounting for risk events such as withdrawal, longevity, survivor needs and healthcare risks.
“We envision a world where old school financial advisers are obsolete, except for the very wealthy,” said Bo Lu, co-founder of FutureAdvisor.
Only 14% of small employers--for-profit firms that employ 100 or fewer people--sponsor some type of retirement plan, according to a new GAO report.
Brief or late-breaking items from DST Brokerage Solutions, Broadridge, BNY Mellon, SIGNiX, VERTEX, Allianz Life, the U.S. Treasury Department, Nataxis Global Investment Management, EBRI, Financial Executives International and Allianz Global Investors.
The leitmotif of the Retirement/Pension track of the Society of Actuaries Investment Symposium in New York on Monday was that risky assets and pensions mix like, say, metallic sodium and water. Explosively, that is.