The most powerful way to get people to save for retirement in recent decades has been through benefits offered at their job. But a lot of people- about half the American workforce- don't get that from their employers. “Over 50 million workers right now don't have access to any retirement plan at all,” says David Certner, legislative counsel for AARP.
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JOHNS CREEK, Ga., Jan. 09, 2020– Ebix, Inc., a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced that it has continued to expand on its market share in the industry by enabling the launch of USAA Life Insurance Company annuity products on its state of the…
Jan. 8– The rules of the retirement game just saw a sizable overhaul in Congress, giving a nod to the reality that many Americans can't afford to quit working. The changes aren't massive enough to put to rest concerns about an upcoming retirement crisis where some forecast a growing gap between the haves and have-nots. The new law, signed by President Donald Trump in…
Pacific Life announced that the company’ s fee-based, advisory annuities are now available to independent registered investment advisers through TD Ameritrade. Expanding our distribution through them with our two fee-based annuities, Pacific Odyssey ® and Pacific Index Advisory ®, supports our overall strategy to provide broader access to our…
Great American Life ® expanded its fee-based product offering with the launch of two new fixed-indexed annuities. The Index Protector 4 and Index Protector 5 MVA annuities are designed specifically for advisors involved in fee-based planning, making it easy to incorporate these insurance products into their investment services. Whether they are…
A 72- year-old former Menomonee Falls man was sentenced to six months years in federal prison Dec. 18 for failing to pay more than $1 million in taxes on millions of dollars he earned overseas and parked in secret Hong Kong accounts. John Miller Ragland, now living in Bonita Springs, Florida, pleaded guilty in June to one of the four counts in a 2018 indictment.
Wells Fargo& Co. is entering 2020 with considerable work left to do in rehabilitating its reputation with federal lawmakers and consumers. Wells Fargo ranked 96th, followed by Sears at 97th, Trump Organization at 98th, Philip Morris USA at 99th and the U.S. government at 100th. The poll comment included a brief synopsis of the fraudulent customer account scandal…
In May, the House of Representatives passed the bill, officially known as the Setting Every Community Up for Retirement Enhancement Act of 2019, by a remarkable 417-3 bipartisan majority. While that kind of political momentum is difficult to oppose, the bill's progress had been stalled by a small group in the Senate. Anxious to avoid a government shutdown, both…
According to the SEC's order, MetLife improperly released reserves for annuity benefits associated with MetLife' s Retirement and Income Solutions Business, which resulted in an increase in income. The SEC's order also finds that MetLife overstated reserves and understated income relating to variable annuity guarantees assumed by a MetLife subsidiary….
BNY Mellon, a banking and financial services holding company, issued the following news release:. BNY Mellon's Pershing announced that it has completed the integration of its managed accounts technology with its annuity order entry platform, Subscribe (R), delivering advisors streamlined annuity purchasing and servicing capabilities within its managed…
Wink, Inc. revealed enhancements to their industry-leading analysis tool for annuities, “annuity intel in your pocket,” AnnuitySpecs.
HOLON, Israel, Dec. 5, 2019/ PRNewswire/– Sapiens International Corporation,, a leading global provider of software solutions for the insurance industry, announced today that Patriot Life Insurance Company, a North American life insurance provider with an extensive network of independent agents, upgraded to Sapiens UnderwritingPro for Life& Annuities…
The U.S. life/annuity industry increased its holdings in structured notes by one-third over a three-year period, with book adjusted/carrying value reaching $16 billion in 2018, up from $12 billion in 2015, according to an AM Best report. Larger insurers are the primary purchasers of structured notes, as they typically have more sophisticated investment…
Its facility was at 1520 Germantown St. in Dayton, with a satellite office at 8145 N. Main St. in Clayton. The judgment announced Wednesday follows an investigation by the U.S. Department of Labor’s Employee Benefits Security Administration’s Cincinnati office, which found that the mental health service provider and fiduciaries Gayle Johnson and Akil Sharif…
WINSOR, Connecticut, Nov. 14– LIMRA issued the following news release:. We all know good customer experience when we see it. “Today’s consumers are comparing the experiences they have with financial services companies with the ones they have with tech firms, like Amazon, Apple and the like,” said Todd Silverhart, Ph.D., corporate vice president and director of LIMRA…
–The Guardian Life Insurance Company of America announced today that Andrew McMahon, an industry veteran and head of the company’s largest business, has been elected President by its Board of Directors. Mr. McMahon’s appointment is part of Guardian’s regular succession planning process and is effective January 1, 2020. Mr. McMahon, who joined Guardian in 2017,…
BOSTON – Nov. 13, 2019 – One-third of 65-year-olds will likely live past 90, but many are underfunded for that…
These legal documents can’t just be put in a drawer and forgotten for years and years. They need to be tended to periodically, or else they may cause problems when you need them the most.
Voya Financial, Inc. today announced financial results for the third quarter of 2019.. “During the third quarter, we made further progress on our growth plans and generated normalized third-quarter 2019 adjusted operating earnings of $1.36 per diluted share, “said Rodney O. Martin, Jr., chairman and CEO, Voya Financial, Inc.“ For the nine months ended Sept. 30, 2019, we…
_ Brighthouse Financial Inc. on Monday reported third-quarter net income of $683 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Charlotte, North Carolina- based company said it had net income of $6.06. Brighthouse Financial shares have increased 31% since the beginning of the year.
Less than three months after receiving an IRS Private Letter Ruling that eases the taxation of advisory fees, Great American Life ® released a new endorsement that goes one step further to simplify the payment of advisory fees from an annuity. Plus, clients had to consider how the withdrawal would affect their annuity benefits,” says Tony Compton, Great…
Security Benefit Life Insurance Company today announced the launch of its new Strategic Growth Series Annuities, two new fixed index annuities which offer contract-holders the ability to safely accumulate and grow retirement assets without the risk of market losses. “We set out to design an annuity series that provides financial representatives and…
VA sales have declined steadily over the last decade, having peaked at $184 billion in 2007. In 2018, VA sales dropped to approximately $100 billion, down 46% from 2007. Today, fixed annuity sales, led by FIAs, now surpass VA sales, stemming from the uncertainty created by the potential fiduciary rules the U.S. Department of Labor had contemplated a few years ago.
1035 exchanges let you trade up for a better annuity or trade in unneeded life insurance.
