Did You Know?
- That, as of the first quarter 2011, the combined net assets of U.S. variable annuities were valued at nearly $1.6 trillion, an 11% increase from first quarter 2010 and the highest level ever recorded?
- In 2010 fixed annuity assets were valued at $659 billion a 6% increase from 2009?
- That in 2010, the total average expense difference between variable annuities and mutual funds was 1.01%?
- In 2011, the contribution limits range from $5,000-$6,000 for an IRA, $16,500-$22,000 for a 401(k) and $200,000 plus for a non-qualified annuity?
- That the average number of funds per variable annuity contract was 50 in 2010, of which 47% of assets were invested in equities, 11% in bonds, and 20% in fixed-rate accounts?
- That the guaranteed lifetime withdrawal benefit was offered on 79% of variable annuities in 2011 and was elected by 65% of contract holders?
- Boomers who own annuities have a higher confidence in retirement expectations, with 92% believing they are doing a good job in preparing for retirement?
High-Level Professional Resources
IRI: Treasury’s Proposals Provide Additional Tools to Attain a Secure Retirement
IRI Applauds Efforts to Increase Access to Lifetime Income Options
WASHINGTON, D.C. - The Insured Retirement Institute (IRI) released the following statement from IRI President and CEO Cathy Weatherford after the organization submitted its comment letter to the Department of the Treasury regarding its combined efforts with the Department of Labor to increase access to lifetime income options:
"The efforts taken by the Department of the Treasury and the Department of Labor to promote lifetime income strategies underscore the Administration's commitment to provide millions of Americans with additional tools to attain a secure retirement. Our members support the Treasury's proposed regulations and guidance, and we believe that these actions will help Americans who face unprecedented retirement income challenges--challenges that have only been compounded by longer life spans, the rising cost of health care and a shift from defined benefit to defined contribution plans. We applaud these efforts and encourage the Administration to take additional steps to continue to reduce barriers to attaining lifetime income, such as addressing plan sponsors' concerns regarding portability of lifetime income products. We stand ready to work with the Administration on these issues so that all Americans may enjoy a secure retirement."
For IRI's comment letter to the Department of the Treasury, click HERE.
About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is a not-for-profit organization that for twenty years has been a mainstay of service, commitment and collaboration within the insured retirement industry. Today, IRI is considered to be the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. IRI proudly leads a national consumer education coalition of nearly twenty organizations and is the only association that represents the entire supply chain of insured retirement strategies: our members are the major insurers, asset managers, broker dealers and more than 150,000 financial professionals. IRI exists to vigorously promote consumer confidence in the value and viability of insured retirement strategies, bringing together the interests of the industry, financial advisors and consumers under one umbrella. IRI's mission is to: encourage industry adherence to highest ethical principles; promote better understanding of the insured retirement value proposition; develop and promote best practice standards to improve value delivery; and to advocate before public policy makers on critical issues affecting insured retirement strategies and the consumers that rely on their guarantees. Visit www.IRIonline.org today to experience the vast resources of the Insured Retirement Institute for yourself.
- END -
<< Return to previous page