A few years ago, MassMutual mothballed Jerry Golden’s SPIA tool for advisors. Now, post-crisis, the company has re-embraced SPIAs, and sales are up.
Solash, who leads AIG's Individual Retirement business, spoke with us about the company's approach to the annuity market. The NAIC recently reported AIG's overall Life and Retirement businesses as having an industry-leading $18.4 billion in sales.
In retirement, "risk" can turn from an object of pursuit to an object of avoidance. In the second installment of a two-part article, our guest columnist continues his discussion of financial and other risks that retirees and advisors should anticipate.
In the first of a two-article series, the retirement expert, author and editor enumerates and describes the many risks that retirees face. (Spoiler alert: Mortality is not one of them.)
Leading up to the May 1 deadline for contract changes, issuers continued to tinker with every aspect of their contracts--to reduce overall risk and to align their compensation formulas with advisor preferences.
Curtis Cloke, an Iowa-based financial advisor and deferred income annuity specialist, responds to last week's lead story, "Channel Surfing for Low-Cost SPIAs."
The Social Security and Disability Insurance trust funds may be a figment of accounting, but the funds' trustees continue to calculate the changes in payroll tax rates and/or benefit levels that would keep the funds solvent until the last surviving Boomer reaches age 121.
The growth of emerging-market firms in global investment and finance will bring "the sort of multilateral framework for regulating cross-border investment that has been derailed several times since the 1920s," the bank's report said.
Separately, the Boston-based firm reported that the average 401(k) balance rose to $74,900 at the end of 1Q 2011, an all-time high since Fidelity began tracking balances in 1998.
Brief or late-breaking news from New York Life, Bankers Life and Casualty, F-Squared Investments, AnnuitySpecs and National Planning Holdings.
If Jackson National de-risks its variable annuity offerings, it would merely be following the example of competitors like Prudential and MetLife. Jackson's parent also has to consider Solvency II.