Retirement savers have different needs when it comes to advice and guidance. So, it’s important that consumers have access and choice. Some people practice a buy-and-hold strategy, engaging financial professionals who earn transaction-based commissions. Others seek and pay for ongoing advice and management services from fiduciary advisers. Retirement savers also seek to be treated fairly. … Continue reading "Department of Labor Should Retain Access, Choices for Retirement Savers"
The “fiduciary-only” voices are at it again – this time attacking the Labor Department for attempting to follow the law, and by doing so safeguard access for lower- and middle-income savers. With its 2016 fiduciary rule vacated by the Fifth Circuit Court of Appeals, Labor recently restored its original investment advice rule. The Department’s goal … Continue reading "Fiduciary-Only Shuts Out Some Americans Saving for Retirement"
In recent years, major corporations like FedEx and Alcoa have shifted retiree pensions to annuities offered by life insurers. While these pension risk transfers shift obligations to an insurance company from an employer, they don’t change the benefits retirees receive. That is because, like traditional pensions, an annuity guarantees retirees a stream of income they … Continue reading "Retirees Protected in Pension Risk Transfers"
Across America, defined benefit pension plans continue to be replaced by retirement savings arrangements like the 401(k). With the U.S. Congress passing the SECURE Act last year, more folks will be saving in 401(k) plans. When coupled with an annuity, 401(k) savings can provide meaningful pension-like secure income throughout retirement. Annuities are the only financial … Continue reading "Annuities – Trusted Retirement Income"
Millions of Americans face worrisome financial challenges during their retirement. For many, anxieties have intensified recently due to the market upheaval caused by the COVID-19 pandemic. Fortunately, there is a surefire way to address those concerns: an annuity. June is Annuity Awareness Month, a time to focus Americans on the only financial product in the … Continue reading "Annuities Awareness Month: Guaranteed Lifetime Income"
The bar on consumer protections is raised in important ways by the Securities and Exchange Commission’s (SEC) Regulation Best Interest (Reg BI), which goes into effect at the end of this month. Reg BI preserves access for middle- and lower-income savers to financial professionals that offer the opportunity to set up income guaranteed for life. Insurance … Continue reading "Consumers Benefit from Regulation BI"
The COVID-19 pandemic has been tragic for those who have lost loved ones around the world. It has also shuttered businesses and sent the financial markets reeling. For those preparing for or living in retirement, these are the rainy days for which they’ve saved. Congress, through the CARES Act, recently made it easier for those … Continue reading "Annuities: Certainty in Retirement"