Goal-based investing is more than just mental accounting that assigns labels like “house,” “college” or “retirement” to different pots of money. It's ultimately about risk management, as we learned from Lionel Martellini, director of France's EDHEC RIsk Institute.
Eight years after collapsing under the weight of CDS losses and four years after emerging from federal ownership, AIG is again atop the annuity sales charts, with $9.78 billion sold in the first half of 2016. (Pictured: AIG CEO Peter Hancock).
The universities' retirement plans were the latest to be sued by the law firm of Jerome Schlichter (pictured at his office in St. Louis) for violations of fiduciary duty. The suits charge that the schools should have bargained for lower fund expenses and administrative fees.
Last month, we reported on John Walton's "tilt" method of fine-tuning systematic withdrawals in retirement. New research by the Texas hydrologist-turned-retirement income specialist combines tilting and income annuities.
The author, a former presidential candidate and finance minister of Chile, teaches at Columbia University's School of International and Public Affairs.
So far, eight states have passed legislation requiring private-sector employers that don’t offer retirement plans to auto-enroll their workers in state-administered, payroll-deduction IRAs.
U.S. Judge Peter G. Sheridan ruled that the plaintiffs failed to prove that AXA Equitable’s Fund Management Group had charged “exorbitant fees” while delegating “all of the services” to sub-advisers or a sub-administrator for a “nominal amount.”
Fitch expects low reinvestment rates to continue to be an earnings headwind in the second half of 2016.
Brief or late-breaking items from Voya Financial, MassMutual, TIAA, Diversified Services Group, Ameritas, The Guardian, and the World Demographic and Ageing Forum.