Annuities Are Coming to More Retirement Plans
Financial advisers have an opportunity to help their employer clients consider guaranteed income options for their defined benefit retirement plans as more employees want them. BlackRock and other large asset managers are adding more annuities to their employer-sponsored retirement plans because the Secure Act of 2019 reduces plan sponsors' concerns over legal liability. Here's what fi...
More States Adopt Annuity ‘Best Interest’ Regulation
The push to change regulatory standards for annuity sales is gaining momentum. On Aug. 17, Connecticut became the 16th state to adopt a suitability model update developed by the National Association of Insurance Commissioners (NAIC). The update sets a “best interest” standard for annuity sellers, meaning sellers must put customers’ interests ahead of their own. “The department’s action ...
Gen X Takes a Closer Looks at Annuities
Annuity sales have been focused on retiring baby boomers, but advisers may be overlooking a key market if they only focus on people close to retirement. Members of Generation X are three times more likely than baby boomers to express extreme interest in purchasing an annuity as part of their retirement income plan, according to Protected Retirement Income and Planning Study from Allianc...
