During 3Q 2013, carriers filed 84 annuity product changes. AXA Equitable made a buyout offer, several carriers limited new payments to contracts, and Jackson National made living benefits available on joint life products again, according to Morningstar's quarterly update.
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.
In her new book, 'The Deficit Myth,' Stephanie Kelton explains Modern Monetary Theory--and how we can afford a lot more as a nation than we think we can.
The deal, part of a trend in private-equity acquisitions of life/annuity properties that began a decade ago, makes KKR about one-third larger. The trend tailwind: low rates.
Recent surveys of plan participants and IRA owners from Cerulli Associates and the Investment Company Institute shed light on a pivotal question: Which type of account will most Boomers draw their retirement incomes from?
The statement, 'The more the government borrows, the more it has to pay for its borrowing,' is sometimes true and sometimes false, writes this economist and author.
A new study by economists at Stanford and the University of Utah suggests that less-productive workers start working harder when local unemployment rates go up.
On Nov. 1, Harbinger unit Fidelity & Guaranty Life announced it would leave Maryland and relocate to Iowa for that state’s “deep insurance talent pool, sophisticated regulatory approach to indexed products, and strong business climate.” In August, FGL filed for an IPO.
High inflation also "discourages full-time work and encourages partial and full retirement,” according to a trio of researchers from UC-Berkeley, the University of Michigan and the Social Security Administration.
"As retirement evolves into a more flexible yet complicated life stage, financial services providers could benefit from understanding the multiple stages of retirement better," says SRI Consulting-Business Intelligence.
Brief or late-breaking items from New York Life, MassMutual, Towers Watson, Jackson National, Fidelity Investments and Guardian Life.