Here is the first of three excerpts from "Guaranteed to Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance," the compact, illuminating new book by four NYU Stern School of Business professors about the fatally flawed structure of the GSEs.
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.
Steve Utkus of the Vanguard Retirement Research Center proposes a four-part model to explain the psychological dynamics behind the most recent financial bubble, and similar bubbles.
The results of Morningstar's 2011 Mutual Fund Stewardship Grade Research Study are in.
Last August, falling interest rates drove up the projected benefit obligation and resulted in a record deficit for the 11-year history of the Milliman Pension Funding Study.
The Retirement Industry Conference is coming up soon, to be followed by several other events that RIJ readers might want to attend.
Those with surplus money naturally lend to those who need money. But, as two IMF experts show, disaster can occur when too much money is lent for consumption and the process goes on too long.
Britain's plan to simplify the state pension to a single-tier plan could hurt private DB plans by ending "contracting-out," the practice of substituting contributions to a private plan for contributions to the second state plan.
The Vanguard Emerging Markets Select Stock Fund is expected to have an expense ratio of 0.95%, a $3,000 minimum and a 2% redemption fee on shares held less than 60 days.
Brief or late-breaking items from Janus, ING, AXA Equitable Life, Morningstar, eRollover, Curian Capital and TrimTabs.