Total U.S. annuity sales hit $58.7 billion in the last three months of the year, up 2% from the $57.6 billion during the same timeframe in 2019, according to data published by Limra’s Secure Retirement Institute. But sales were down for the full year.
The deal with Foley Trasimene values Blackstone Group's benefits administrator at about $7.3 billion including debt. Blackstone bought the unit from Aon in 2017.
As several recent deals show, such as OneDigital's purchase of Truist's RPA business, banks offer retirement plan advisers a chance to grow their business.
A nonworking wife with no Social Security benefits of her own cannot collect on her husband’s earnings record until he files for his Social Security benefit.
An evenly divided Senate might tweak rather than overhaul investment-advice policy, such as the treatment of rollovers, while resisting some tax increases Biden advocated during the election.
Fidelity Investments became the latest to register with the Department of Labor as a pooled plan provider. The PEP, which appears to target small businesses, could significantly boost the company’s presence in that market – the bulk of Fidelity’s defined-contribution plan business is with large employers.
Plaintiffs allege excessive fees and other claims against the auto maker and drug company, while a participant in a plan using American Trust as trustee claims a major distribution was made without his permission. The University of Pennsylvania settled a long-running case over its 403(b).
Learning from the lessons of 2020 and taking action to improve their retirement planning should be a key focus for advisers in 2021.
After private-equity partners lined up to invest in Captrust, which eventually selected GTCR, the firms that were left out were eager to invest. SageView became the most attractive option remaining.
As COVID-19 forced some older Americans into early retirement, a survey shows a huge increase last year in total retiree debt, partly as a result of more people carrying credit card debt.
The deal for Vertical Financial Group is the insurance giant’s second big purchase of a retirement plan adviser.
Hours before President Joseph Biden was inaugurated at the U.S. Capitol, the Biden transition team released a list of more than 100 Trump regulations approved since 2017 that it intends to revisit.
Roughly half of American households may not be able to maintain their standard of living in retirement, according to a report from the Center for Retirement Research.
A Department of Labor advisory council compiled a wealth of testimony on the challenges that plan sponsors, advisers, record keepers and others face in identifying retirement savers’ cognitive decline and what options they have when they suspect it.
The company, not wanting to be outdone by an identical move in December by its competitor Vanguard, lowered its investment minimum for defined-contribution plans from $100 million to $5 million.
VALIC and Associated Bank were sued recently over their retirement plans, while a long-running case over losses in Valeant Pharmaceuticals stock in DST Systems' plan was settled for a total of $79 million in three separate agreements.
If your client is entitled to Social Security on her own earnings record, she may want to collect reduced retirement benefits at age 62.
Overall, the retirement savings products bled $6.7 billion, marking the first such instance of negative net sales since Morningstar began tracking them in 1994, the ratings and research firm reported this week.
The majority of U.S. households, even those that save and invest diligently, place the bulk of their investible assets in tax-deferred retirement accounts and bank accounts, while ignoring 'middle liquidity' options, the report published by Hearts & Wallets notes.
The business is complex and competitive, and it is changing rapidly, industry leaders noted at several InvestmentNews events
