Nature abhors a vacuum, and so does the retirement industry. Now that the Obama fiduciary rule is gone, some people are realizing that it actually served a purpose. The problems that the DOL addressed in the rule are still with us, and there's no promising new solution to them in sight.
'The TCJA has left the nation with an upside-down tax incentive for homeownership that applies to only about one-tenth of all households—nearly all of them with high incomes,' writes our guest columnist.
In the UK, the minimum contribution to auto-enrolled defined contribution plans will reach 8% in April 2019, including a 3% mandatory employer contribution.
Fewer than half of Canadians surveyed were confident in their ability to maintain their standard of living until age 90, while 58% would expect a decline in living standards if they reached 95.
MetLife and Ernst & Young collaborate on financial wellness program; eMoneyAdvisor adds lead-generator to its platform; VALIC and RetireUp partner on Retirement Pathfinder.
'Lincoln Level Advantage' comes with four index options, two term lengths and four levels of protection. It also offers variable subaccounts and a living benefit.
'We now have a solution that adds a guaranteed component to the retirement plan without being burdensome,' said Pete Welsh of OneAmerica, the provider of OnePension.
Many advisors prefer 'a multi-product annuity platform' that allows for 'customizable retirement planning,' the survey by the multi-product annuity provider showed.
But fewer than one in four would pay for tools and services that help them live healthier lifestyles or help improve their finances, a Willis Towers Watson survey shows.