Union workers at General Motors and Stellantis (Chrysler et alia) in Detroit will be able to link directly from their 401(k) retirement plan platform to the Hueler annuity website, where they can solicit bids on immediate or deferred income annuities, or deferred fixed-rate annuities, from up to six life insurers. The post Auto workers’ DC plan will link to Hueler Income Solutions appeared first on Retirement Income Journal ..read more

The MetLife solution enables participants at all savings levels to purchase an immediate income annuity through an insurer selected by their employer and annuitize any portion of their savings, a release said. Assets not used to purchase the annuity remain invested in the plan. The post MetLife to offer income annuities on Fidelity’s platform appeared first on Retirement Income Journal ..read more

The life/annuity industry faces three big legal issues this year. All stem from, or are complicated by, the patchwork regulation of financial products in the US, our out-of-date pension laws, and the treatment of all annuities as a single type of product. They also all involve fixed indexed annuities (FIAs). The post This Year’s Legal Battles appeared first on Retirement Income Journal ..read more

Income products issued by MetLife, Pacific Life, Prudential Financial and Western & Southern Financial Group are available on the Fidelity platform, with additional insurers to be added in the future, Fidelity said in its release. The post Fidelity’s Plan Sponsors Can Now Offer In-Plan Annuities appeared first on Retirement Income Journal ..read more

Pension Plus is a recent entry in the race to sell decumulation tools to 401(k) plan sponsors. Shlomo Benartzi, the behavioral finance expert, conceived it. Retirement industry veteran Mike Henkel will run it. American Funds and OneAmerica are early adopters. The post ‘Sticking to the Plan’ While Taking Income appeared first on Retirement Income Journal ..read more

I visited Iceland in mid-2022 to interview pension experts in Reykjavik, the capital city and to fish for brown trout in the rivers near Akureyri, a harbor town on Iceland‘s north coast. I wanted to compare Iceland’s retirement policies with pension practices back home in the US. The post Iceland’s Tiny But Great Collective DC Plan appeared first on Retirement Income Journal ..read more

The ERISA Advisory Council recently heard comments on changing the criteria that fiduciaries use when vetting annuity providers in pension risk transfer deals. Athene's vice chairman defended his company's practices. The post Of Athene, Pension Risk Transfers, and Fiduciaries appeared first on Retirement Income Journal ..read more

Vanguard released its 2022 edition of 'How America Saves,' a compendium of data on millions of Vanguard-administered 401(k) plan accounts. Of participants ages 65+, half had balances under $88k. Photo: Vanguard CEO Tim Buckley. The post How do 401(k) participants save? Vanguard knows. appeared first on Retirement Income Journal ..read more

'We are honored to be selected as the provider for the QLAC portion of the LifeStage Retirement Income program,' said Ruth Schau, senior director of Pension Solutions for Pacific Life. The post Church-affiliated retirement plan adopts Pacific Life longevity annuity appeared first on Retirement Income Journal ..read more

Envestnet's cloud-based platform supports more than 108,000 advisors and 6,000 companies. Kestra Financial, based in Austin, Texas, is part of Kestra Holdings. The post Envestnet and Kestra co-launch platform for plan advisers appeared first on Retirement Income Journal ..read more