In a workshop at this week's ASPPA annual meeting in Washington, D.C., few third-party administrators believed that the average couple will be able to afford the retirement they dream of. Many people, they said (including themselves), will need annuities.
In a three-way competition at the CFDD conference, the winning income plan was one that maximized Social Security, converted a 401(k) to a Roth IRA, and rebalanced the remaining portfolio monthly.
New federal reverse mortgage rules make it cheaper for seniors to tap their home equity for a line of credit.
By merging its pension plan with Social Security, Maine could offer its public employees a more equitable deal. But can the state’s budget handle the potentially higher costs?
The government of this tiny Asian nation has confronted its collective longevity risk by requiring the purchase of annuities with defined contribution assets. Wharton pension expert Olivia Mitchell and colleagues have written a new paper about it.
AXA Equitable has put structured notes inside a variable annuity, giving investors tax-deferred exposure to small-cap, gold and oil indices for specific periods while capping their upside and buffering their downside.
“We’re not trying to force all employees into annuities. We’re all about creating more opportunities for people”-- J. Mark Iwry, senior advisor in the Treasury Department, speaking at the ASPPA annual meeting in Washington this week.
“Prudential has strengthened its grip on advisors in the variable annuity space over the past year," says Cogent Research in a study of advisor loyalty to variable annuity issuers, mutual fund companies and ETF providers.
In a move that resembles the Obama administration's "auto-IRA" program for workers in companies that don't offer retirement plans, the British are hoping to jump-start middle-class savings with their National Employment Savings Trust.
Analysts at Mercer say the U.S. could improve its private pension system by, among other things, requiring that participants convert at least part of their retirement savings to an income stream.
The 72 million participants in defined contribution plans in the U.S. are about to get more fee and expense disclosures than they'll know what to do with.
Late-breaking items from Allianz Life of North America, MetLife, Nationwide Financial, Prudential and Genworth Financial.