IRAs now hold more money than employer-sponsored retirement plans, and the big beneficiaries are Fidelity, Vanguard and Charles Schwab, says a report from Cogent Research.
'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.
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.
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.
At the Lifetime Income Summit in Washington last week, federal officials and financial industry executives amiably swapped views. But competitive tensions lay not far beneath the surface. Rep. Earl Pomeroy, D-ND (at left), was a featured speaker.
“Thank God I'm not the average retiree trying to decide who or what to believe regarding what to do with my retirement savings.”
Jeffrey Gundlach, co-founder, CEO and chief investment officer of DoubleLine Capital, will speak on June 23; and Bill McNabb, president and CEO of Vanguard, will address attendees on June 24.
The current debt-to-gross domestic product (GDP) ratio in the United States is 57%, compared to an average of 37% over the last 50 years.
Dan Guilbert is now Chief Risk Officer at Aviva North America and Allyson McDonald is senior vice president, Retirement Income Security, at New York Life.
“Insurance companies and their fund partners could provide a windfall of over $220 million if they continue to adopt the summary prospectus,” said NewRiver CEO and chairman Russ Planitzer.
Nearly two-thirds of market participants say they have already implemented changes in advance of regulatory reform, with 79% expecting central clearing to become standard.