Data & Research January 5, 2011

Few Purchase Annuities as Retirement Nest Egg Hedge

A third of those responding to a new survey worry about outliving their retirement nest egg, but only one in five plan to buy an annuity or other guaranteed income product.
Reported by

A news release from the Society of Actuaries (SOA), which sponsored the poll, said 48% of respondents ages 45 to 70 have a financial plan in place to help guard against running out of money in retirement and pay for retirement health care.

Seventy-one percent said they plan to claim Society Security benefits before they reach 70 years old, the release said.

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Three-quarters (75%) of respondents ages 45-70 protect their tangible assets, such as housing, through home or renter’s insurance; however, only 19% plan to insure the extra costs of disability and well-being by purchasing long-term care insurance.

The findings are based on a nationally representative online survey of 1,006 individuals, ages 45-70. More information about the SOA is at www.soa.org.

Products January 5, 2011

Folio Advisers Gain Access to HCM 401(k) Optimizer

Howard Capital Management (HCM) and Folio Institutional have made an arrangement to enable Folio-affiliated advisers and their clients to use HCM’s retirement plan analysis tool.  
Reported by

According to a press release, Howard Capital Management’s 401(k) Optimizer provides individualized advice for participants in 401(k), 403(b), 415(m), 457 and other company-sponsored retirement plans on a Web-based platform.The tool analyzes a plan’s available funds and provides a customized recommendation of how much to invest in which of the funds, based on a participant’s age, risk tolerance, and financial profile.

Advisers who sign up for the HCM 401(k) Optimizer Website are provided a privately-branded landing page on the site, featuring elements such as the adviser’s photo, company description, and logo. The adviser’s clients access the site using a special access code, and receive a 10% discount on the normal subscription charge of $348 per year (or $98 per quarter). 

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Following the initial analysis and recommendation, participants and their advisers receive quarterly e-mail updates recommending adjustments to the investment allocation.  The HCM 401(k) Optimizer may be used by advisers working with individual 401(k) participants, or those who service corporate 401(k) or other retirement plans.   

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