Like the Ford Mustang in 1965, the variable annuity with a lifetime income rider seemed like the right Boomer product at the right time in 2006. Then came the Crisis. A new survey by Cogent Research and the Insured Retirement Institute looks at where the VA is today and where it's headed.
'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.
Another “very bright spot in the third quarter data was the significant increase in net cash flow, to $8.9 billion from $5.7 billion in the second quarter and $6.4 billion in the third quarter of 2010,” wrote Frank O’Connor, product manager of the VA database at Morningstar.
"It's an interesting environment," said Beacon Research CEO Jeremy Alexander (left). "The word is that some carriers are keeping a lid on business" because of the low rates.
Calling all investment advisers and financial planners: RIJ wants to hear from you about the tools you use to help your clients create retirement income.
Noticeably absent from the DOL’s September 19th release, and statements by DOL officials, is any suggestion of a broad revision of the regulation, writes Fred Reish, the well-known ERISA attorney at Drinker, Biddle & Reath.
The British automaker's defined benefit plan assets stood at £7.8bn ($12.3bn) last December, with a surplus of around £700m ($1.1bn).
The new regime would be one with no investment choices for plan participants to make. "Our members... are blue-collar workers and typically don't want to make investment decisions themselves," said the plan's chief investment officer.
The dollar's share of global currency reserves has declined over the last 10 years as emerging markets rely less on external debt and move from fixed to floating exchange rates, a new report says.
An article in last week's cover story ("Airbag-Equipped Annuities") erred in reporting that MassMutual had stopped selling variable annuities. The company said it has simply narrowed distribution to its career channel and has sold $675 million worth of VAs so far in 2011.