a contract in which a person pays a lump-sum premium to an insurance company and in return receives periodic payments, usually yearly, often beginning on...
The Revenue Act of 1987 amended section 807d(2)B of the Internal Revenue Code and set the interest rate used in the calculation of tax reserves to be the greater of the applicable federal interest rate or the prevailing maximum statutory valuation rate for the contract's calendar year of issue. This...
Annuity premiums are often assumed to be constant, although they can be expected to vary with the yield curve. Variations in premiums will become an important public policy issue defined-contribution DC pension plans play an increasingly prominent role in providing retirement income. As DC plan holders retire, many will annuitize...
* John Hancock Financial Services Inc. in Boston has added features and benefits to the guaranteed-principal annuity, its fixed annuity sold through banks. The new product, GPA Choice, has two interest rate options that allow individuals to g ...
A Grantor Retained Annuity Trust ("GRAT") is one of the estate planning techniques based primarily on interest rate assumptions. Clients create GRATs using assets that are likely to earn more than the Internal Revenue Service's measuring standard during the GRAT term in an effort to pass the appreciation in the...
This paper derives a market value for guaranteed annuity option using martingale modeling techniques. Furthermore, it shows how to construct a static replicating portfolio of vanilla interest rate swaptions that replicates the guaranteed annuity option. Finally, it illustrates with historical UK interest rate data from the period 1980 until 2000...
ATLANTA -- Georgia-Pacific Corp. might have to pay millions of dollars to former employees who took lump-sum payments from the company's cash balance pension plan in the early and mid-1990s. In the first big victory for cash balance plan participan ATLANTA -- Georgia-Pacific Corp....
Byline: Phyllis Feinberg NEW YORK - The Retirement Group at Merrill Lynch has joined with Metropolitan Life Insurance Co. to bring 401k plan participants a fixed, deferred group annuity investment option called Personal Pension Builder. While Byline: Phyllis Feinberg ...
Georgia-Pacific, Bell Atlantic facing class-action suits Vineeta Anand and Fred Williams Georgia-Pacific Corp. and Bell Atlantic Corp. have been hit with class-action lawsuits alleging they miscalculated lump-sums in connection with their cash balanceGeorgia-Pacific, Bell Atlantic facing class-action suits Vineeta Anand and Fred Williams Georgia-Pacific...
Investors who stash their cash in money market funds, certificates of deposit or fixed-rate annuities aren't looking for big gains. They just want to protect their principal and earn a little bit of interest. That's why the sudden collapse of some of Wall Street's most venerable institutions has...
* Q10| G.S. Wilcox & Co., is pleased to announce financing in the amount of $27,600,000. The team of president Gretchen S. Wilcox and Albert Raymond, principal, recently arranged four loans in the amount of $16,100,000. * A $3,000,000 loan on 57,000 s/f fully occupied single tenanted warehouse...
WELLESLEY, Mass. -- The U.S. division of Sun Life Financial Inc. (NYSE:SLF, TSX:SLF) today announced an enhanced purchase payment interest rate for its Masters[R] Extra Variable Annuity VA product. The rate, which increased from 5% to 6%, is applicable for all new accounts and for add-on payments from existing clients...
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A Excellent and issuer credit ratings of "a" for RBC Life Insurance Company RBC Life (Mississauga, Ontario) and RBC Insurance Group's RBC Insurance U.S. life insurance entity, Liberty Life Insurance Company Liberty Life (Greenville,...
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating FSR of A++ Superior and the issuer credit rating ICR of "aa+" of Western & Southern Financial Group, Inc.'s WSFG core life insurance subsidiaries. The subsidiaries include The Western and Southern Life Insurance Company WSLIC,...
WEST DES MOINES, Iowa -- American Equity Investment Life Holding Company (NYSE: AEL) today announced that it will announce its second quarter 2008 earnings after the close of market on Wednesday, July 30, 2008. The second quarter earnings release and financial supplement will be posted on the...
There's no magic in retirement: It's mainly a reflection of your saving habits. The idea is to save habitually and enough -- some say, 12 percent to 17 percent of your paycheck -- beginning early in the working years, in order to maintain...
There are many ways to release equity from your property - but be very careful, warns James Daley After more than a decade of phenomenal growth, UK house prices have finally started to slide over the past few months, with some parts of...
Q: Which would be safest and offer the best long-term results for my 401k -- a stable value fund or an inflation-protected bond fund? -- O.C., by e-mail A: Go for the inflation-protected bond fund. Long term, it will provide you with a small premium (probably...
CHICAGO -- Fitch Ratings has affirmed the 'AA-' insurer financial strength IFS ratings of Midland National Life Insurance Company Midland and North American Company for Life and Health Insurance NACOLAH. The Rating Outlook is Stable for both companies. The ratings of Midland and NACOLAH, collectively...
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