Tag: Annuities

The new rule permits variable annuity and variable life insurance contracts to use a summary prospectus to provide disclosures to investors.

The U.S. stock market has entered bear market territory after its record bull run; one silver lining is the opportunity to educate people about annuities.

Notably, the proposed revisions to the Suitability in Annuity Transactions Model Regulation would provide a safe harbor for firms and producers that comply with the SEC’s Regulation Best Interest.

The National Association of Insurance Commissioners is seeking to update its rules and restrictions on the sales of annuities so they better harmonize with the SEC’s Regulation Best Interest.

To guarantee or not to guarantee? For some of the leading recordkeepers and investment managers, that’s not a question they necessarily want to answer.

There is clearly a growing interest among retirement plan industry stakeholders in providing guaranteed income annuity options within defined contribution plans, yet consensus remains elusive.

The typical investor has five to six accounts, multiple products and custodians, and two or three advisers managing their assets.

Whether by video or written text, researchers found a short story significantly improved test scores about annuities and Social Security claiming.

A new IRS private letter ruling essentially conforms the tax treatment of properly structured advisory fees from non-qualified annuity contracts to those paid out of qualified accounts, which typically are not treated as taxable distributions.

New York’s expanded “best interest” standard took effect on August 1st for annuity contracts and will take effect February 1, 2020, for life insurance policies. In a new decision, the New York Supreme Court calls the expansion “a rational and reasonable movement towards consumer protection.”

It helps educate advisers on how to discuss income planning with clients.

Anxiety about turning DC plan assets into a “lifetime retirement paycheck” in such a low-rate environment is keeping aging Americans in the workforce—including many who very likely have enough money saved to retire comfortably and don’t want to keep working.

“ANNUA is challenging the status quo around retirement savings by helping pioneer lifetime income features within 401(k)/403(b) plans at a time when participants are experiencing insufficient account balances and disappearing pensions,” the firm says.

Sales of fixed annuities increased 38% during the first quarter of 2019 relative to the same period last year, according to the LIMRA Secure Retirement Institute.

A professor at the UCLA Anderson School of Management discussed biases that must be considered when helping people make retirement income decisions.