Takeaways from the FPA Conference in Boston

At the Financial Planning Association's Business and Education Conference in Boston last weekend, Bill Reichenstein talked about tax-efficient withdrawal strategies, Steve Deschenes made a case for income-oriented American Funds, and David Blanchett explained that retirement might cost less than expected.

Will the ‘BIC’ Affect QLAC Sales?

We're talking about the DOL's proposed Best Interest Contract exemption and sales of Qualified Longevity Annuity Contracts. "Most firms will just pass on this uncertainty and risk," said Caleb Callahan, chief operating officer of ValMark Securities.

How to Personalize Withdrawal Rates

Safe spending rates range from 2% to 10%, writes researcher Luke Delorme in the Journal of Financial Planning. It all depends on when people retire, how much guaranteed income they have, whether they want to leave a legacy, etc. One size never fits all.

GM Adds Hueler’s Income Solutions to its DC Plan

GM closed its defined benefit plan in 2012. Its 401(k) provider is Fidelity. To offer its DC plan participants an option to roll over part of their savings to an income annuity at retirement, it chose Hueler's Income Solutions Annuity Marketplace, an online annuity purchasing platform.
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The Chinese Economy and Fed Policy

"Unless there are surprising changes in the US economy, we can expect the Fed to start raising interest rates later this year, as Janet Yellen has proposed, and to continue raising them in 2016 and beyond," writes Harvard economist Martin Feldstein. This article first appeared at Project-Syndicate.org.

Questions for the DOL’s Tim Hauser

The DOL may believe that, by establishing a blanket “Best Interest” principle, it won’t have to pick winners and losers. But it can’t avoid picking winners and losers. A one-size solution never fits all.
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Will the ‘BIC’ Affect QLAC Sales?

We're talking about the DOL's proposed Best Interest Contract exemption and sales of Qualified Longevity Annuity Contracts. "Most firms will just pass on this uncertainty and risk," said Caleb Callahan, chief operating officer of ValMark Securities.