MetLife’s Retirewise program offers hundreds of brown-bag seminars, like the one depicted in this ad, for 401(k) participants at firms where MetLife isn’t the provider.
At the spring meeting of the Retirement Income Industry Association, held at Morningstar Inc. in Chicago, concepts like "stocks for the long run" and "safe withdrawal rate" were out of favor.
Lest they be drowned out by 401(k) critics, major DC plan providers have formed a new trade group, the DCIIA, chaired by PIMCO's Stacy Schaus. The group supports target-date collective trusts, deemed IRAs and lifetime income options.
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.
The contract costs 2.25% a year, including 100 bps for the income rider, 75 bps for the M&E risk fee, and 50 bps for fund management, says Bill Lowe, president of ING Financial Solutions.
Even good retirement plans can backfire if you do not carefully consider the effect of disability and lost earning power on retirement savings.
“Most employees are losing a very material amount of their retirement assets due to fee-related erosion,” the consulting firm said.
With this product and others like it, the cost of LTCI is greatly reduced because the fixed annuity assets serve as a very large deductible.
“So far we've been raising awareness of the crisis in retirement income,” said Nancy Hwa, a spokesperson for Retirement USA.
Merrill Lynch's billboard urges Times Square visitors to send text messages naming the thing they'd most like to “retire.”
Britain is developing a system of personal investment accounts targeted at low and middle-income workers who may or may not have a workplace savings plan.