Lottery-like savings programs aren’t widely legal in the U.S., but a Harvard Business School professor believes they could inspire more low and middle-income Americans to save.
The complex deal at the heart of the SEC’s case against Goldman Sachs may reveal Wall Street to be a labyrinth or casino, but it doesn’t necessarily establish fraud.
“The banks shouldn’t be running casinos on the side,” said former Fed chairman Paul Volcker at the Hyman P. Minsky Conference in New York last week.
At LIMRA's 2010 Retirement Industry Conference, consultant Timothy Pfeifer identified the deferred and immediate products that he thinks are ideal for insurers, distributors and investors today.
Glide paths of TDFs differ markedly as the investor comes within ten years of retirement, and this divergence can lead to unpleasant surprises.
Last week, the Government Accountability Office sent a snapshot of America’s retirement income status to Sen. Herb Kohl, who will hold hearings on the topic in June.
The Richmond-based company reported net income of $212 million in the first quarter of 2010 (before provision for non-controlling interests), compared to a loss of $469 million in the first quarter of 2009.
The Individual Annuities segment reported operating income of $119 million in the first quarter of 2010, up from $74 million a year ago, reflecting a 34% increase in average annuity account values.
Some of the administrative burdens that come with carrying annuities need to be eased in order to attract more employers to offer these types of products, ING said.
Worldwide, mutual fund investors have added nearly $1.4 trillion of net flows to bond and stock funds since March 2009's market bottom, according to Strategic Insight's Simfund databases.
“One of the disadvantages of in-plan options is that Qualified Joint Survivor and Annuity (QJSA) rules can often be cumbersome, confusing, and difficult to administer," said the TIAA-CREF brief.