Either paranoid or perceptive, public pension administrators say they are being sandbagged by a pervasive, persistent stealth effort to convert their DB plans to DC and gain greater control over their collectively immense assets. Maybe they're just observing business as usual.
At the LIMRA annual conference in Boston earlier this week, MIT economist James Poterba described how low interest rates make saving for retirement more of a challenge.
Speakers Wade Pfau and Curtis Cloke showed planners at the Financial Planning Association's 2019 conference in Minneapolis that income annuities can provide growth as well as protection.
Recent research offers new insights into financial decision-making, the decision to work after retirement, and reveals surprising links between aging and interest rates, the rise of the service economy, and the 'shadow banking' phenomenon.
By increasing enrollment, auto-enrollment inevitably increases the number of employees eligible for a matching contribution, if any, and in such cases can drive up employer costs. Something’s got to give in such a situation, writes Barbara Butrica of the Urban Institute
At the RIIA annual conference in Austin, Texas, this week, awards were given to New York Life, Jackson National, JP Morgan Chase, Prudential, Shlomo Benartzi, Wade Pfau and Michael Kitces.
In its annual report on global pensions, Mercer notes that the world is embracing the DC model but still hasn’t figured out how to help participants convert the assets to income.
So far, five giant plan sponsors, including Shell, have joined a group that will advise PensionsEurope, an association of pension associations in 21 European countries.
Philip A. Falcone of Harbinger Capital Management may not exercise control over a New York-licensed insurance company for seven years, by order of the New York Superintendent of Financial Services, Ben Lawsky.