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...
Using a range of data consistent with the German experience, the paper evaluates several alternative designs for phased withdrawal strategies, allowing for endogenous asset allocation patterns, and also allowing the worker to make decisions both about when to retire and when to switch to an annuity. The paper shows that...
This paper revisits the importance of longevity insurance—while discussing the concerns with a strategy consisting purely of fixed payout annuities—and then addresses the proper asset allocation between conventional financial assets and payout annuity products. Its focus is on maximizing a suitably defined objective function in an intuitive, comprehensible and practical...
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...
Net income of $6.2 million Life and Annuity earnings remain comparable to a year ago despite market deterioration HARTFORD, Conn. -- The Phoenix Companies, Inc. (NYSE: PNX) today reported net income of $6.2 million, or $0.05 per diluted share, and operating income of $14.8 million, or...
Fund's Name to Change to AIM Global Core Equity Fund on July 24 HOUSTON -- Invesco Aim announced today a team of 13 investment professionals from Invesco Global Asset Management (N.A.), Inc., will provide new management leadership for AIM Global Value Fund. The...
Customized enrollment guide outlines individual retirement realities NEWARK, N.J. -- Prudential Financial, Inc. (NYSE: PRU) has debuted its Retirement Workbook, a newly designed personalized enrollment guide that delivers simplified, reader-friendly content for participants in defined contribution plans who are transitioning to Prudential Retirement or for...
NEW YORK -- TIAA-CREF, the leading provider of retirement services in the academic, medical and cultural fields, today announced the appointment of Bertram L. Scott to the newly created role of Executive Vice President and Chief Institutional Development and Sales Officer. In his new role,...
Prudential Retirement Presents "Better Outcome" Awards NEWARK, N.J. -- Prudential Financial, Inc. (NYSE: PRU) honored five plan sponsors for redesigning their defined contribution DC retirement programs to help plan participants achieve retirement goals. Faith Technologies Inc., VSP[R] Vision Care, Knauf Insulation, Rogers Corporation and the...
CHICAGO, July 8 /PRNewswire-FirstCall/ -- Morningstar, Inc. , a leading provider of independent investment research, and Lincoln National Corporation today announced that Lincoln Employer Markets, a division of Lincoln Financial Group, has launched MorningstarR Retirement ManagerSM, including Morningstar Associates' 401k managed accounts service. This offering...
NEWPORT BEACH, Calif. -- It was announced today that J. Michael Shepherd has joined the boards of Pacific Mutual Holding Company and Pacific LifeCorp, the parent companies of Pacific Life Insurance Company. Mr. Shepherd became president and CEO of Bank of the West on January...
Seminar Kit and College Cost Slide Projector Enhanced to Help Build Business BOSTON, July 7 /PRNewswire-FirstCall/ -- John Hancock Freedom 529 updated two of its most popular marketing tools to help financial consultants FCs in their efforts to build their businesses. The firm's entire...
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...
NEW YORK -- MetLife, the largest U.S. life insurer and a leading provider of employee benefits, today announced that it has enhanced its group life benefits portfolio by adding estate resolution services as a standard feature to its supplemental Term Life, Group Universal Life GUL and Group...
Executive To Be 18th Chief Executive In The Company's 163-Year History NEW YORK -- Ted Mathas tomorrow assumes the position of chief executive officer of New York Life Insurance Company, the largest mutual life insurance company in the United States with 15,000 employees and 50,000...
HARTFORD, Conn. -- The Phoenix Companies, Inc. (NYSE:PNX) today filed a Form 10 Registration Statement with attached information statement with the Securities and Exchange Commission SEC relating to the planned spin-off of its asset management subsidiary, Phoenix Investment Partners, Ltd., to Phoenix's stockholders. "Today's filing...
NEW DELHI, India -- DLF Pramerica Life Insurance Co. Ltd. DPLI, a joint venture between DLF, a leading real estate development company in India, and Prudential Financial, Inc. PFI (NYSE:PRU), a financial services leader headquartered in the United States, today announced that it has been granted an...
GREENSBORO, N.C. -- The Board of Directors of NewBridge Bancorp announced today the appointment of Pressley A. Ridgill to the position of Chief Executive Officer of NewBridge Bancorp, replacing Robert F. Lowe who recently announced he would retire as CEO on June 30, 2008. With the additional...
INDIANAPOLIS -- International Medical Group([R]), Inc. (IMG([R])) is pleased to announce the launch of Ping An GlobalSelect([R]) International Healthcare, an international healthcare plan that is modeled after IMG's successful GlobalSelect([R]) plan and tailored for the domestic Chinese market. The product is available for distribution through insurance brokers...
Former President of Peoples Gas/North Shore Gas and Director of Illinois Lottery Well-Respected Civic and Community Leader in the Greater Chicago Region NORTHBROOK, Ill. -- Allstate Insurance Company today announced it has appointed Chicago area business and civic leader Desiree Rogers to the newly created...
Providing Long-Term Care for Uninsured Retirees Could Cost the Average Family Caregiver Over $140,000 BOSTON -- To help Americans better plan for their healthcare costs in retirement, Fidelity Investments estimates that a 65-year old couple in 2008 will need $85,000 to insure against long-term care...
Articles 2008-06-26
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