Federal regulations and legislation that would make it easier for defined-contribution plans to include lifetime-income products are expected to be introduced next year.
Encouraging employers to offer annuities in pension plans will be one of the Labor Department's top regulatory goals in 2010.
The Labor and Treasury departments are discussing jointly submitting a request for comment from members of the retirement income industry to determine if there needs to be regulation of the market.
Some 41% of employees said they want more professional advice to help manager their 401(k) assets, but only 35% of employers currently offer retirement planning sessions
Of those taxpayers who are getting money back, 30% said they intend to pay down debt, 28% say they will save or invest, and 26% anticipate spending their refund on food or utility bills.
Despite some mixed data over the past couple of months, our view is that the global economic recovery remains on track, both in developed and emerging economies.
An eager crowd of about 700 bidders showed up at a North Salt Lake warehouse for a most unusual auction
Rhonda Breard, 47, promoted her financial expertise in television infomercials and in $49 seminars at local community colleges. Beginning in 2004, she started encouraging clients to take money out of certain accounts and turn it over to her — supposedly for new investments.
Now that the days of generous variable annuities are behind them, some advisers are finding ways to fit the revamped, slimmed-down versions into clients' portfolios.
I have a solution for Lee Feldman's salespeople who are worried about losing their income derived from 12(b)-1 fees (“Keeping 12(b)-1 fees discourages churning,” Feb. 1).
While the national average cost of home health care increased last year, expenses vary from city to city.
Bank of America Merrill Lynch is already planning the next evolution of its Financial Wellness Monitor to be able to score investors' overall financial situation.
Both sovereigns are facing economic woes. Both are facing huge budget gaps. But only one is facing runaway borrowing costs
Genworth's Total Living Coverage Annuity can also be covered through a tax-free 1035 exchange out of an old annuity or life insurance product.
President Barack Obama signed a major health care overhaul bill Today. Here are some of its features, along with details on a package of changes to the legislation under consideration by the Senate this week.
With the passage of the health care bill, investors will see the tax rate on long-term capital gains jump to 23.8%, raising questions for investors looking to protect their assets
Bank of America Merrill Lynch is establishing an elite new designation for financial advisers who want to work with large 401(k) plan clients. The new designation is part of the bank's push to become a bigger player in the retirement space.
The debate over whether to take capital gains this year heated up yesterday when the House passed health care reform legislation.
Scott J. Brown, chief economist and senior vice president of equity research at Raymond James & Associates Inc., offers his daily market commentary.
