Some interesting developments are taking shape in the employee benefits market. For the past 15 years, MetLIfe has studied employee benefit trends. This year, the survey found that employees rate life insurance an essential employee benefit, ranking seventh out of 17. Employer’s interest in the financial security of employees is…
Only 24% of people have a written financial plan, although 34% of millennials do, a higher percentage than Generation X or baby boomers, a Charles Schwab survey found. Those with written financial plans are more likely to make choices such as putting more money into a 401(k) account and having…
A survey by the New York Life Center for Retirement Income shows respondents have a distinct lack of knowledge of retirement finance, with 74% failing the quiz. The respondents, Americans between age 60 and 75 with $100,000 worth of assets excluding property, achieved poor scores on quiz questions about 401(k)…
Federal Reserve Governor Jerome Powell and acting Comptroller of the Currency Keith Noreika have indicated willingness to ease the regulatory burden imposed by post-crisis regulation, particularly the Fed stress test and the Volcker rule. "The Volcker rule provides a practical example of how conflicting messages and inconsistent interpretation can exacerbate…
The Federal Reserve should let a low 10-year Treasury yield and sluggish inflation recover before raising interest rates further, says Robert Kaplan, president of the Federal Reserve Bank of Dallas. "From here now, I'd like to see evidence that recent weakness in inflation in March and to some extent April…
House Speaker Paul Ryan, R-Wis., has promised reform of the tax system would not threaten retirement savings. He says homeownership and charitable donations also would remain unaffected, but he intends to end the estate tax and the alternative minimum tax. Bloomberg
The companies that write fee-based variable annuities are increasingly shortening the period during which surrender fees are applied or eliminating them entirely, regulatory filings show. According to one expert, advisers can expect to see more short-term surrender products offered by insurance companies, as longer surrender charge products are seen as…
About 10% of Americans older than 60 are victims of financial abuse, according to the National Center on Elder Abuse. Clearly defining mental capacity and creating revocable trusts are among seven tips from attorney David Lenok for advisers to protect clients. WealthManagement
Semi-retired academic Larry Edward Penley discusses the US retirement crisis and the need for workers to save more and have access to a variety of retirement plan options that will help their money last over a lengthening lifetime, including annuities. "Those of us who worked in higher education had access…
The relaunch of our Self-Directed Power Lunch (SDPL) meetings are off to a fast start. At our SDPL meeting on Thursday, June 8 2017, co-host Isaac Deutsch Account Executive, Brokers Central LLC did a fine job addressing the hot topic of Traditional LTC vs Hybrid LTC and Linked LTC products. Following…
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