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.
Shopping for an annuity, like shopping for a car, involves questions about the manufacturer of the product. Do their products perform as expected? Will service quality be high? Are they likely to stay in business? We show you where to look for answers.
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.
Managed payout funds may fail if the client lives too long. Life annuities overcome that problem, but lack sufficient flexibility. 'The best results can be obtained by combining SPIAs and flexible withdrawals,' writes the author, an actuary and financial planner.
We obsess about safe withdrawal rates. But the developer of the "7Twelve Portfolio" shows that anyone retiring from 1970 to 1990 would have vastly underspent by using the '4% rule.' He suggests that excess caution can be as much a hazard as excess spending.
In the 2015 edition of an annual report, Conning named 20 life/annuity specialists for superior performance, based on their operating margin, return on surplus, premium growth, sales and other metrics.