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.

Why Indexed Annuity Sales Are So Strong

Many factors are driving the increase in indexed annuity sales: More manufacturers, better products, more distributors, competitive commissions, aging boomers, and relaxed regulation. But does the bubble contain the seeds of its own deflation?

Lessons from a Living (DC) Experiment

Israel has found that even a mandatory defined contribution system can’t resolve all of the behavioral, economic, or administrative issues that prevent low-income and minority workers from saving for retirement. (Photo: Mahane Yehuda market in Jerusalem.)

What Advisors Want from Annuity Issuers

This week, RIJ received a press copy of “What Advisors Want from Annuity and Insurer Providers-2019,” a study by Practical Perspectives, a Boxford, MA-based financial services market research firm.
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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.
News

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.)

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.