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.
Publicly held annuity issuers could be handicapped in the future by lingering liabilities, and should have foreseen the impact of IRA money flowing into VAs starting in 2002, says one analyst. Others are more upbeat.
FINRA's recent report on conflicts of interest at brokerages laid bare some dingy practices. Some say it's a move to burnish FINRA's credentials as a candidate for regulator of all brokers and advisors under a uniform fiduciary rule.
Finnish people love their saunas and their nation's retirement system, which features a basic tax-funded pension, a compulsory collectively-managed DC plan for private-sector workers, and a government pension for public employees.
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.