Mad About 401(k) Annuities
Part I: ‘Keep Your Hands Off My 401(k).’ Based on their recent e-mails to the Labor Department's RFI, some Americans think Uncle Sam wants to confiscate private savings.
The Savings Sweepstakes
Lottery-like savings programs aren’t widely legal in the U.S., but a Harvard Business School professor believes they could inspire more low and middle-income Americans to save.
The Goldman Touch
The complex deal at the heart of the SEC’s case against Goldman Sachs may reveal Wall Street to be a labyrinth or casino, but it doesn’t necessarily establish fraud.
Volcker’s Minsky Moment
“The banks shouldn’t be running casinos on the side,” said former Fed chairman Paul Volcker at the Hyman P. Minsky Conference in New York last week.
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Part II: Tracing the Distortion
In print, on radio and on TV, Rush Limbaugh and Newt Gingrich helped fuel the rumor that 401(k) plans were under attack.
Part III: Industry Answers
In the final week or two of its RFI on in-plan annuities, the Labor Department began receiving comments from the industry that has a big stake in the way 401(k) assets are distributed.
Using Psychology to Sell Annuities
Some behavioral finance experts believe that principles of psychology could be used to boost annuity sales.
News
It’s Crunch Time for Annuity Issuers: Conning Research
"Premiums have actually declined, and rebuilding them will be a challenge," said Conning's Scott Hawkins.
Prudential Financial Nets $536m in 1Q 2010
Individual annuity gross sales for the quarter just past were $4.9 billion (up from $2.2 billion a year ago), while net sales were $3.2 billion (up from $643 million a year ago.)
Milliman Proposes “Simple, Obvious” In-Plan Annuity Fix
"The life insurance companies have a big opportunity here," said Ken Mungan of Milliman. "They should jump on it."
Post-Crisis, Greeks Face Longer Work Lives
Today, the police, harbor workers, security services and journalists for the state media can retire in their 50s. Starting in 2013, these privileges will be abolished.
Jackson National Tailors GMWB for the Tax-Conscious
The new living benefit allows contract owners to withdraw enough to offset all or part of the income tax on their distributions.
