Fiduciary Rule Hurts First Quarter Annuity Sales

Sales of certain fixed annuities were lifted by the recent uptick in the Fed's benchmark interest rate, but sales of variable and indexed annuities were depressed in the first quarter of 2017 by uncertainty over the future of the DOL fiduciary rule.

‘Smart,’ from UK, Enters the US PEP Market

'Smart' is the recently-launched American branch of a British fintech with expertise in a kind of retirement savings plan that's called a 'master trust' in the UK and a 'pooled employer plan' or PEP in the US. RIJ interviewed two of its top executives.

Research Roundup

Almost every controversial subject in the US today--from Fed policy to machine learning to immigration--contains an element or theme related to retirement policy. The articles reviewed in this month's Research Roundup are proof of that.

‘iTDFs’ Smooth the Bumps of Retirement Income

A former chief actuary of Denmark seeks a US target date fund company that might use his technology, the 'iTDF,' to create a seamless transition from pre-retirement savings to safe income during the first 20 years of retirement.

Deregulators Must Follow the Law, So Regulators Will Too

'The Labor Department has concluded that it is necessary to seek additional public input on the entire Fiduciary Rule,' wrote the Labor Secretary this week,' but added that he sees 'no principled legal basis to change the June 9 date.'

Do Rollover IRAs Contain Pension Money?

The Labor Secretary did little this week to dispel the annuity industry's uncertainty about the future of the fiduciary rule. Neither did he demonstrate that he understands what the fight over the fiduciary rule is about.

Indexed annuity sales fall in first quarter: Wink

New York Life was the overall top seller of non-variable deferred annuities, with a market share of 9.6%. Allianz Life retained its top ranking in indexed annuity sales with a market share of 13.1%.

Danes reject six-month increase in retirement age

Danes born between 1956 and 1962 are entitled to receive a state pension at the age of 67. Under the plan that has now been dropped, this age would have increased to 67.5 years.