BrightScope Inc. today launched a new tool that allows investment-only 401(k) asset managers to pinpoint which retirement plans are using their funds — as well as those of their competitors.
In their attempts to defuse the recent controversy surrounding retained-death-benefit payouts to survivors, insurance industry executives have played up the protection that the accounts provide grieving beneficiaries.
President Barack Obama said it would be “irresponsible” for Congress to extend tax cuts for the wealthiest Americans and voiced support for Treasury Secretary Tim Geithner and National Economic Council Chairman Lawrence Summers.
Reports began circulating on Aug. 27 that Manulife — John Hancock Financial Services Inc.'s parent company — was gearing up to buy Lincoln National Corp.
Acquisition of U.S. company — and its variable annuity business — would hike Manulife's exposure to volatile equity markets
Fidelity Investments' insurance unit has dropped the cost of its variable annuity by 10 basis points and has created a new fee level for larger accounts.
The agency says some beneficiaries may mistakenly believe the accounts are insured by the U.S. government
U.S. life insurers, a group led by MetLife Inc. and Prudential Financial Inc., would be prohibited from retaining death benefits without specific consent of clients, under a proposal today by state legislators.
The furor over retained-asset accounts doesn't appear to be letting up. The VA is investigating. The Secretary of Defense wants money returned to beneficiaries. And now, a source says NY AG Andrew Cuomo is widening his probe of the industry practice.
If you have clients with sizable pension plans who are getting married for the first, second or third time — or more — the question of who gets the pension plan after death must be agreed upon now, and the agreement must hold up when the time comes to pay beneficiaries.
Insurance regulators in New York are joining Connecticut's insurance commissioner in examining whether The Hartford made improper disclosures or engaged in misleading practices in its marketing of a new variable annuity.
Bill marks first attempt to update law since 1986; would likely lead to fewer amended returns
Employers expect compliance with the health care reform law to account for nearly one-third of the projected 10% average increase next year in health benefit costs, but most are taking steps to keep that increase at or below 6% — a move that will cause many to lose grandfathered status, according to a survey by Mercer LLC.
Although it is common, and perfectly legal, for insurers to prune funds from their VA menus periodically, financial advisers say the practice is increasingly thwarting their ability to put clients in the best possible funds.
Prudential Plc, the U.K.'s biggest insurer, promoted Mike Wells to chief executive officer of its U.S. division and appointed two new non-executive directors as it reorganizes the board after a failed takeover bid in Asia.
Attorneys also predict insurer's marketing of new VA will trigger lawsuits; 'half-baked solicitation'
