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.
A Bermuda domicile is just one of Global Atlantic Financial Group's competitive edges. Last week, the former Goldman Sachs Reinsurance Group added Forethought, which markets variable, fixed and fixed indexed annuities, to its stable of insurance businesses, which includes Commonwealth Annuity.
Iowa advisor Curtis Cloke claims that his 'Thrive” system,' which finances retirement with period certain, cash-refund deferred income annuities, offers safety without sacrificing upside. He's one of RIJ's 'RetiremEntrepreneurs.'
Wondering what life under a strict fiduciary standard might be like? Just ask investors in the U.K. (also known as 'the nanny state') where sales commissions were banned from financial services last January.
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.