Achaean Financial's novel hybrid design for a lifetime income annuity is being brought to market by National Western Life. We spoke with Achaean founder Lorry Stensrud and NWL's Chad Tope. (Photo: Death mask of Agamemnon, leader of the Achaean army in the Iliad.)
Fortitude Re will assume the assets and liabilities of a $31 billion block of Prudential annuities, and pay Prudential $1.5 billion. The block consists mainly of variable annuities with living benefits that Prudential sold before 2011.
The House Ways & Means Committee's budget reconciliation recommendations include, among other measures, increases in income taxes on individuals earning over $400,000.
"Wealth After Work," a new book edited by William Gale, Mark Iwry and David John (Brookings Institution Press, 2021) gathers together the many retirement-related reforms that they and other public policy wonks have worked on over the past 20 years.
Michelle Richter to lead the Institutional Retirement Income Council; AIG to distribute annuities through SIMON; Morgan Stanley and Empower partner on workplace benefits; Jackson National completes ‘demerger’ from UK parent; Health Savings Accounts: Not Used as Directed, EBRI says.