J.P. Morgan Asset Mgt Joins the 401(k) Annuity Race

To educate participants, JPMAM's ‘My Retirement Income Planner,' an online tool for 401(k) participants, will help them decide whether to cover 25% of their plan savings with an Equitable or Prudential lifetime income guarantee at retirement.
Putting the J.P. Morgan venture in context

‘If you’re not talking about it, you’re not winning’

By Kerry Pechter
'The topic of retirement income is a relevant discussion for J.P. Morgan to have, even if it doesn’t turn out to be a big asset gatherer for them,' said Mark Fortier, an actuary who has long experience with 401(k) annuities.

Most annuities bought to reduce investment risk: LIMRA

By Editorial Staff
'Most annuities are purchased as protection from investment risk, not for longevity risk,' LIMRA research chief Bryan Hodgens said. 'Most fixed index and RILA contracts are bought without a guaranteed living benefit. We have seen a slight uptick in consumers buying the GLB rider on FIAs and RILAs.'
Bermuda Triangle-related

US life/annuity insurers cede $1.74 trillion to reinsurers, 2016-23

By Editorial Staff
New capital keeps flowing into the reinsurance segment, primarily via reinsurers owned by investment managers focused on annuity business, AM Best analysts write. These newer entrants co-insure assets that can be rolled into high-yielding public, private or alternative fixed income products.
Anecdotal Evidence

Why 401(k) Plan Sponsors Remain Wary of Annuities

By Kerry Pechter
The SECURE Act of 2019 did too little, too soon, in opening up 401(k) plans to all kinds of annuities. Some big 401(k) plans are ready to offer in-plan deferred annuities or out-of-plan immediate annuities, but the rest of America, not so much.   

Wink’s Annuity Sales & Market Report, 2Q2024

By Editorial Staff
Athene USA was the annuity sales leader (overall market share of 8.2%; 11.9% for non-variable deferred annuities), followed by MassMutual, Corebridge Financial, Equitable Financial and Nationwide.

Honorable Mention

By Editorial Staff
Top news items: GAO investigators go 'undercover' to study conflicts of interest; SEC charges six major ratings agencies with record-keeping lapses; How the commercial real estate bust could affect US life insurers; Prudential expands its reinsurance strategy; Voya tops $100bn across multiple employer solutions; Nassau issues new FIA with 18% bonus; American Life & Security launches new FIA.

COVER STORIES YOU MAY HAVE MISSED

August 2024

RIJ Launches the 401(k) Income Research Center

By Kerry Pechter
RIJ intends to give plan sponsors, plan advisors, retirement plan service providers and others an up-to-date, easy-to-access source of curated information and competitive intelligence on products and processes that can help 401(k) participants turn...
July 2024

DOL Lets Pension Risk Transfer Rules Stand – For Now

By Kerry Pechter
But the Department of Labor's Employee Benefits Security Administration still has concerns about 'insurers’ ownership structures; exposure to risky assets... and use of affiliated and offshore reinsurance.'
June 2024

An In-Plan Annuity with Three Life Insurers

By Kerry Pechter
Asset manager AllianceBernstein and three life insurers—Jackson National, Lincoln National, and Nationwide—are offering their Secure Income Portfolio deferred variable annuity (with income rider) to plan sponsors as a retirement drawdown tool.