By merging its pension plan with Social Security, Maine could offer its public employees a more equitable deal. But can the state’s budget handle the potentially higher costs?
At the LIMRA-Society of Actuaries Retirement Industry Conference in Baltimore last week, Scott Stolz from Raymond James, Greg Jaeck from Edward Jones and Jarrod Fisher from Simplicity Financial Distributors delivered frank opinions about annuities and annuity issuers.
Many factors are driving the increase in indexed annuity sales: More manufacturers, better products, more distributors, competitive commissions, aging boomers, and relaxed regulation. But does the bubble contain the seeds of its own deflation?
Israel has found that even a mandatory defined contribution system can’t resolve all of the behavioral, economic, or administrative issues that prevent low-income and minority workers from saving for retirement. (Photo: Mahane Yehuda market in Jerusalem.)
Behavioral finance is to cognitive economics as engineering is to physics, says the founder and CEO of inon.com, a UK pricing consultant.
In Manhattan and at the Jersey shore, AXA-Equitable Life staffers with a Flip camera interviewed passersby about retirement and posted the videos on YouTube. One man's retirement strategy: Meet a wealthy woman.
"...We pledge to dedicate ourselves to the task of reconnecting our highest aspirations to the permanent truths of our founding by keeping faith with the values our nation was founded on, the principles we stand for, and the priorities of our people. This is our Pledge to America." -- The Republican Party.
If the economy needs a second dose of quantitative easing, the Fed might try an alternative to the "shock and awe" approach of 2009-10.
H.R. 5297, which President Obama signed into law yesterday, contained a section allowing VA owners to annuitize part of their contract without first exchanging it for two new contracts. The rule takes effect January 1, 2011.
Traffic was snarled in France's cities last week, fewer than half of the Paris Metro's lines worked normally, and about half of the long-distance trains were canceled, as an estimated one million workers protested changes in pension laws.
Income Plus 6% locks in the greater of investment gains or an annual income credit of up to 6% for first 12 years. Income Builder 8% locks in the greater of gains or a credit of 8% in each year withdrawals are not taken during the first 12 years.
Late-breaking items about WealthVest, LifeYield, Vanguard, ING, MassMutual and more...