An 'Occupy Wall Street' protester at New York's Zuccotti Park expresses her opinion. The same day, at the NY Athletic Club, Wall Streeters themselves criticized their own industry.
We summarize four recent papers: 'Portfolios for Long-Term Investors,' 'What is the Value of Annuities?,' 'Public Economics and Inequality: Uncovering Our Social Nature,' and 'Financial and Total Wealth Inequality with Low Interest Rates.'
How will variable annuity contract owners use their income benefits? That question is vital to annuity issuers and to fiduciary advisers with clients who own VAs. This Texas Dep't of Insurance actuary knows a product that can help them find out.
Bloomberg reported this week that Prudential is considering selling its retirement plan recordkeeping business. Prudential didn't confirm the report, but several industry insiders did. Low interest rates, high costs of IT makeovers, and sticky stable value fund guarantees are driving the move, RIJ was told.
With United Technologies' recent adoption of an in-plan annuity, it now appears more likely that guaranteed income will eventually become commonplace in the defined contribution space. The Hartford, after a false start, has jumped back in that game.
Three-fourths (74.7%) of bank holding companies with over $10 billion in assets earned first-half annuity commissions of $1.46 billion, constituting 95.2% of total annuity commissions reported by the banking industry.
About two-thirds of state and local workers leave public employment with little or no pension, according to a new research brief from Alicia Munnell and colleagues at the Center for Retirement Research at Boston College.
The rider is issued is by Monumental Life Insurance Company, and costs 95 basis points a year in addition to the cost of the no-load VA, which ranges from 36 to 81 basis points, depending on the investment options chosen.
Each TDF is “designed to adjust its equity allocation in response to prevailing market conditions,” the company said in a release.
Brief or late-breaking items from Sun Life Financial, Vanguard, Mass Mutual and the SPARK Institute.
As Europe raises its bar on insurance regulation, it's in America's best interest to follow suit, writes Ms. Toland, managing director, Retirement Income Consulting, at Strategic Insight.