The Savings Sweepstakes

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.

Wells Fargo’s New Annuity Wagon

Wells Fargo Asset Management's new target-date series of CITs comes with a built-in, optional retirement income strategy: systematic withdrawals plus an annuity starting at age 85.
Featured

The Hidden Risk in Target Date Funds

Glide paths of TDFs differ markedly as the investor comes within ten years of retirement, and this divergence can lead to unpleasant surprises.

From GAO, a Primer on Retirement Income

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.
News

Genworth Financial Announces 1Q 2010 Results

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.

Lincoln Financial Group Profitable So Far in 2010

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.

ING Responds to Income RFI

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.

US Mutual Fund Inflows On Record Pace

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.

TIAA-CREF Comments on Retirement Income

“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.