Practice

According to a study, employees will need 15.7 times their final pay to account for inflation and post-retirement medical costs.

Clear guidance and safe-harbor relief would ease industry concerns, Goldbrum says.

It is not often one hears someone nicknamed “Wild” Bill exhorting patience.

Bankers may be unable to stop a tax if it does get added to the legislation because Democrats view it as a way to ensure the reform bill saves the government money and Republicans consider it politically risky to oppose.

Maintaining a competitive environment is critical to the continuing development of new lifetime income solutions for employer-sponsored retirement plans, the SPARK Institute said in a joint letter to the Department of Labor and the Department of Treasury.

Connecticut Attorney General Richard Blumenthal recently filed suit against a bank and local money manager who served as custodians for two feeder funds that invested with convicted Ponzi-schemer Bernie Madoff.

More than 25 investment managers have already signed on to the platform.

Large banks have repeatedly prevailed in battles to preserve federal preemption in Congress and the courts, but that victory string is likely to be broken by the regulatory reform bill being debated in the Senate this week.

Overall sales of annuities though bank holding companies were up slightly at $2.62 billion in 2009, according to the latest Michael White-American Bankers Insurance Association Bank Annuity Fee Income Report. The results, however, were skewed somewhat by BHC-in-name-only Morgan Stanley.

Women are living longer, but that doesn’t necessarily mean they are prepared for the risks of longevity.