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.
At the LIMRA-Society of Actuaries Retirement Industry Conference in Baltimore last week, Scott Stolz from Raymond James, Greg Jaeck from Edward Jones and Jarrod Fisher from Simplicity Financial Distributors delivered frank opinions about annuities and annuity issuers.
Many factors are driving the increase in indexed annuity sales: More manufacturers, better products, more distributors, competitive commissions, aging boomers, and relaxed regulation. But does the bubble contain the seeds of its own deflation?
Israel has found that even a mandatory defined contribution system can’t resolve all of the behavioral, economic, or administrative issues that prevent low-income and minority workers from saving for retirement. (Photo: Mahane Yehuda market in Jerusalem.)
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.