More midsize companies are moving pension liabilities off of their books by transferring them to annuities sold by insurance companies or making lump-sum distributions to plan participants. CFO.com (9/9)
Defined-contribution plan sponsors are reluctant to add annuities to plans until the Labor Department publishes a revised safe-harbor rule for guaranteed-income options. A poll by MetLife found that two-thirds of plans that don't offer annuities and other guaranteed-income options will be more likely to add them to their plans once…
Putting a pension lump-sum distribution into an annuity in some cases gives retirees options not available under the pension plan, write William Byrnes and Robert Bloink. "As most clients know, today's annuity options are incredibly varied so that the client will be able to accomplish a variety of goals, rather…
Holding an annuity within an individual retirement account offers important advantages for clients who want to simplify their required minimum distributions, write William Byrnes and Robert Bloink. "Because a separate set of rules governs each individual type of annuity that may be held within an IRA for RMD purposes, it…
The ability of annuities held within individual retirement accounts to reduce required minimum distributions is a valuable benefit, but it can be a complicated one of execute, according to William H. Byrnes and Robert Bloink. "Because a separate set of rules governs each individual type of annuity that may be…
The IRS has published a new revenue procedure that offers sample language that can be included in the agreement document of a charitable remainder annuity trust to eliminate the risk of the trust being disqualified. The trusts are gaining popularity in estate planning and planned giving. Accounting Today (8/9)
The Labor Department's fiduciary rule is expected to lead to a 30% to 35% decline in fixed indexed annuity sales in 2017, according to LIMRA. Total sales will fall to $40 billion, down from more than $60 billion this year, LIMRA predicts. InvestmentNews (8/2)
Global market volatility is increasing the cost of guaranteeing future income through the purchase of a deferred income annuity, according to retirement income indexes managed by BlackRock. The cost of guaranteeing a specified amount of income has risen almost 10% since the UK's Brexit vote, BlackRock said. PlanSponsor.com (7/11)
The arrival of new fee-based variable annuities smooths the path for the sale of VAs under the Labor Department's fiduciary rule by simplifying compliance, write Robert Bloink and William Byrnes. "The DOL fiduciary rule has provided an impetus for change in much of the financial planning world — and the…
Retirees who want to spend their savings at a rate higher than 4% a year may need to consider buying an annuity, according to Evan Inglis, a fellow of the Society of Actuaries. He calls for a new look at retirement spending in the light of demographic trends and anticipated…
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