It's difficult if not impossible for anyone to describe the contours and textures of the annuity/retirement income business, or even any particular section of it. But fortunately there are people who try.
Wells Fargo Asset Management's new target-date series of CITs comes with a built-in, optional retirement income strategy: systematic withdrawals plus an annuity starting at age 85.
In her new book, 'The Deficit Myth,' Stephanie Kelton explains Modern Monetary Theory--and how we can afford a lot more as a nation than we think we can.
The deal, part of a trend in private-equity acquisitions of life/annuity properties that began a decade ago, makes KKR about one-third larger. The trend tailwind: low rates.
Products from Great-West, ING-US, Midland National, New York Life, Northwestern Mutual, Sun Life of Canada and Transamerica/AEGON are in contention for the first annual "Innovation in Retirement Income Products" award from RIJ and the RIIA.
With y-o-y sales growth of 150%, deferred income annuities have attracted a lot of attention. But so far the DIA phenomenon has been concentrated among mutual insurers and in the captive agent channel.
Over half of Americans gave themselves an A or B grade on their saving and investing knowledge, while giving the average American a grade of D, according to a survey sponsored by Genworth Financial.
Morgan Stanley Wealth Management is the leader in managed solution programs with $627 billion in AUM at the end of 2Q 2013 and a 21% market share. The other top five firms are Bank of America Merrill Lynch, Wells Fargo, UBS Financial and Charles Schwab.
Only 48% of those surveyed think it is an achievable goal to be debt free at retirement, with only 30% stating they will be able to live comfortably in retirement.
CEO Peter Gerber said the airline's pension costs for domestic employees alone rose from €210m to €250m since 2011. One of the main cost drivers was the contract's guaranteed minimum interest rate of 6-7% for employees.
The Edge Pro fixed indexed annuity gives clients the choice of two index options: the S&P 500 Index and the S&P GSCI Excess Return Index.