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Advice: Choosing a Lump-Sum, Monthly Pension, Or a Bit of Both

Traditionally, employees who took part in an employer-sponsored retirement plan, or pension, had just two choices when it came to disbursement: a lump-sum payout or a monthly pension/annuity. Recently, the Internal Revenue Service (IRS) and the Treasury Department helped create a third option, allowing retirees to blend the two previous choices into one. According to a recent article from MarketWatch, those who choose to adopt the new rules can offer their workers a chance to take distributions... Read More

Kansas Judge Won’t Block DOL Fiduciary Rule, Second Win for the Regulation

A second judge has refrained from admonishing the Department of Labor’s fiduciary rule earlier this week. The Kansas federal judge rejected the insurer Market Synergy Group Inc.’s request for a preliminary injunction to block the rule, which aims to diminish conflicts of interest in the retirement advice market. Details were reported in a recent article from The National Law Journal. U.S. District Judge Daniel Crabtree spelled out, in a 63-page ruling, why he believes that Market... Read More

DOL Fights Back Against Claims That FIA & VA BICE Exemptions Are Unlawful

***UPDATED: November 6, 2015*** On Friday, a judge denied a motion for preliminary injunction by the National Association for Fixed Annuities in its lawsuit against the DOL’s fiduciary rule, according to a recent InsuranceNewsNet article. Judge Randolph D. Moss presented a 92-page ruling that addressed all six claims in the District of Columbia District Court, including that the DOL acted “arbitrary and capricious” with its decision to add fixed indexed annuities in to the restrictive... Read More

Despite Backlash, DOL Rule Could Simplify Annuity Products

It seems like all of the annuity news lately has been in regards to the DOL fiduciary rule taking effect next April. Industry experts are either in strong favor of the rule or think it is a terrible regulation that will negatively impact the industry. In "DOL Rule Will Lead To Simplification Of Many Retirement Products," Cyril Tuohy said that many industry experts believe that the rule will help simplify retirement and annuity products for everyone involved. Distributors will also be forced to... Read More

Big Flaws in DOL Rule Will Impact Fixed Indexed Annuity Industry

Many annuity organizations are unhappy with the DOL fiduciary rule and the BIC exemption in particular. Americans for Annuity Awareness' Kim O'Brien wrote an article published for Insurance News Net listing "Three Reasons Why the BIC Exemption is Flawed." The Best Interest Contract Exemption, also known as BICE, is a bone of contention for many in the annuity industry. MSG, a group of independent marketing organizations, filed a detailed lawsuit specifically related to the inclusion of fixed... Read More

After DOL Rule Dust Settles, Annuity Industry Will Shine Again

The Department of Labor's fiduciary rule has been the talk of the annuity and financial industries for months now. With the requirement timeline approaching, the talk will likely be heating up even more through the rest of the year. LifeHealthPro's Jane Wollman Rusoff wrote about a recent interview with "annuity guru" Moshe Milevsky regarding the impact of the DOL's rule. In "Milevsky: Big flaw in DOL fiduciary rule; annuities take early hit," Rusoff highlighted the interview that Milevsky did... Read More

Senate Finance Committee Helps 401k Annuity Exposure

Experts in the annuity industry have been pushing the government to make changes to regulations that would allow for more use of annuities in 401k plans. The Retirement Enhancement and Savings Act of 2016 does just that. It was recently passed by the Senate Finance Committee with an overwhelming 26 to 0 vote. This information comes from the 401k Specialist article "Beltway Bill To Help Annuities In 401(k)s Gets Boost," by John Sullivan. Committee Chairman Senator Orrin Hatch said that the... Read More

Don’t Rule Out Annuities Just Because the Industry is Changing

In this post-DOL fiduciary rule time, the annuity industry will certainly change, but in some ways will still remain the same. In the Financial Planning article "How will annuities fit in portfolios in a fiduciary world?," Chris Orlando says that there is still an important place for annuities. The industry has changed before as laws and other economic factors have forced it to and it will certainly adapt again. Annuities have been questioned for their suitability, exchange laws, whether... Read More

Fixed Indexed Annuity Benefits Are Still In Demand

There is still a case to be made for buying fixed indexed annuity products. Before they were included in the DOL's fiduciary rule, FIA sales were sky high and on an eight year streak of increases. Since the rule has been announced, some experts are wary of the future of the indexed annuity market and I've seen forecasts predicting more than a 30% sales decline. But fixed indexed annuity products still offer the same benefits, benefits that many retirees find useful and valuable. Financial... Read More

Commission-Based Variable Annuity Can Still Be In Consumers’ Best Interest

After the DOL fiduciary guidelines, some people are under the false impression that all commission-based products are bad for consumers. This simply isn't the case. You have to take into account both the individual product details as well as the length of time that the product is held. In a recent article for Investment News, "Lincoln: Commissions Can Be Best Deal for Consumers," Cyril Tuohy compared how fee-based and commission-based investments effect consumers. Lincoln National looked at... Read More

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