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.
In this month's Research Roundup, RIJ shares four recent academic papers on the proliferation of ETFs, the danger (or not) of national debt, rational inflation expectations, and the impact of recent changes in RMD rules.
Laura Prieskorn (left) and Marcia Wadsten are the new CEO and CFO of Jackson National Life. The leading seller of variable annuities in the US is in the process of demerging from its long-time British owner, Prudential plc.
Economists typically use the 'aged dependency ratio' to show the burden of the Social Security program on workers. But the 'total dependency ratio' might be more informative. (Photo by Johann Walter Bantz.)
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.