The Pension Benefit Guaranty Corporation (``PBGC'') is requesting that the Office of Management and Budget (``OMB'') extend approval, under the Paperwork Reduction Act, of a collection of information (OMB control number 1212-0030; expires March 31, 2012). This voluntary collection of information is a quarterly survey of insurance company rates for pricing annuity contracts. The American Council of Life Insurers conducts the survey for PBGC. This notice informs the public of PBGC's request and solicits public comment on the collection of information.
MANCHESTER, England, Oct. 11 /PRNewswire/ -- Experts at Retirement Solutions Ltd are predicting that the poor annuity rates forecasts will most likely lead to an increase in the number of retirees opting for equity release schemes. The company's Sales Director, Kevin Stelfox, believes that the equity in a home is the only viable way for some people to release much needed funds for retirement, commenting that:
... with a definedbenefit in the form of an annuity calculated on the basis ofhis preretirement salary... per year untildeath depends upon interest rates and mortality assumptions at that time. If we assu...
You've stuffed money into your 401(k). You've funded your IRA. But retirement is near, and you're so nervous about the market you don't know what to do. Your insurance company or your broker might have a suggestion: an annuity. And, because interest rates are so low and the stock market has been so stomach-churning, investors have been taking that advice.
BOSTON, Sept. 7, 2011 /PRNewswire/ -- John Hancock Annuities has launched 'Inflation Guard,' an innovative annuity that combines a principal guarantee with the ability to help protect the purchasing power of retirement assets from the impact of inflation. We are pleased to bring Inflation Guard to the marketplace. This product offers client value by combining the benefits of principal protection within a traditional fixed annuity, with a potential growth opportunity from rising inflation rates. In addition, this new annuity helps to further diversify our fixed product offerings," said Marc Costantini, President, John Hancock Annuities.
The precipitous drop in the real estate and securities markets has certainly been painful for many, yet there is a silver lining. Depressed asset values, low interest rates, and the likelihood of continuing federal estate taxes make certain federal estate tax planning strategies extremely attractive. Two such strategies are transfers to grantor retained annuity trusts (GRATs) and sales to intentionally defective grantor trusts (IDGTs). Both are "estate freeze" techniques, with each permitting the transfer of an asset's future appreciation without significant use of federal estate and gift tax exemptions. The GRAT is a creature of IRC Section 2702, whereby a taxpayer may transfer assets to a GRAT in return for the right to receive annuity payments for a term years. Advantages of the IDGT...
Sales of traditional long-term care products have been on a mostly downward spiral for several years. Despite the lack of growing interest in the insurance product, the number of older people is expected to rise between now and 2030. A few insurers have been trying to develop broader appeal for coverage that combines annuities with long-term care insurance. And more are expected to come to market with similar products this year. Bruce Moon, VP of marketing for State Life Insurance Co, a OneAmerica company, said that for them, it was about assisting clients that have a need for long-term care coverage but likely haven't yet found the right answer. In 2009, Bankers Life and Casualty introduced an annuity/long-term care combo product that requires a one-time premium of $25,000 or more and ...
... mechanisms and annuity interest rates. What's the strategy behind writers' long-term car...
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