The Oregon College Savings Plan will combine principal protection with upside potential.
The mutual fund trade group asks the state to repeal a new sales tax on investment advice services.
In addition to advising services, the new tax would also apply to astrology reading, escort services and ski-lift tickets.
The move would “hinder America’s ability to compete in the global economy,” said Treasury chief Henry Paulson.
MBIA, the world’s largest bond insurer, reported third-quarter earnings with a net loss of $36.6 million, or 29 cents per share.
The board of New York Life Insurance has elected Frank Boccio to the position of executive vice president and CAO.
Legislation mandating complete transparency in 401(k) fees is set to be introduced in the Senate this week.
The Risk Group will be responsible for identifying, tracking and addressing key external market and industry trading developments.
Charles Rangel, chairman of the House Ways and Means Committee, has drafted a bill that would slash corporate income tax rates, The Wall Street Journal said.
The Labor Department has turned down stable-value funds as a default investment in 401(k) retirement plans.
The American Council of Life Insurers today elected Dennis R. Glass, president and CEO of Lincoln Financial Group, as its 2008 chairman.
There just aren't enough planners to go around, according to leaders of the financial planning profession. Speaking this month in New York, Nicholas Nicolette, president of the Denver-based Financial Planning Association, said some firms will need to double or triple in size in the near future.
The Phoenix Cos. Inc. has formed an alliance with Jefferson National Life Insurance Co. in which Phoenix will use the Jefferson technology platform to offer no-load variable annuities to fee-based advisers at wirehouses and regional broker-dealers.
Sun Life Retirement Services has named Jed Collins as its new president, succeeding Claud Accum.
Michel Flamee has been re-elected chair of the International Association of Insurance Supervisors executive committee.
The system will help life insurance companies get certifications of supervision of annuity suitability.
Participants in 401(k) plans deserve to know exactly how much of their money is paying for their funds and services.
House Education and Labor Committee Chairman George Miller, D-Calif., is expected to remove a controversial requirement from his 401(k) bill that a low-cost index fund be included in all such plans, said an industry official.
Nebraska insurance director L.Tim Wagner died on Tuesday, according to the National Association of Insurance Commissioners.
House Republicans have introduced a bill that would repeal the AMT with an optional “simplified tax.”
