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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?
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The Insured Retirement Institute's mission is to provide financial advisors and other interested parties with information and resources to assist in a better understanding of annuities and the role of these products in financial retirement planning. One very important resource are the articles in the financial and consumer press.
Recommended by 31 people New Rules on Partial 1035 Exchanges
Partial 1035 annuity exchanges completed on or after Oct 24, 2011, will be governed by updated rules from the IRS which offer major changes—and insiders say improvements—to existing rules. The new rules, Revenue Procedure 2011-38, replace Revenue Procedure 2008-24 and both simplify and clarify previous rules governing partial exchanges. The updated rules were issued by the IRS in late June. “These are good clear concise rules that make logical sense,” says Tom Duncan, Director, Advanced Sales, Nationwide Financial. “They are good for both our industry and our clients.”
Recommended by 35 people Middle-Income Boomers Need for Retirement Advice
With little confidence in their ability to plan for retirement or in their knowledge to navigate through a sea of investment vehicles, middle-income Baby Boomers are in dire need of retirement income advice. Underserved by financial advisors, this untapped market of age 60-plus Boomers earning between $30,000 and $75,000 presents an opportunity for financial planners to provide meaningful retirement planning while expanding their client base.
Recommended by 42 people Employment Concerns Affecting Retirement Confidence
Concerns about future employment are leading to low retirement confidence levels, according to research findings from the 2012 Retirement Confidence Survey (RCS) by the Employee Benefits Research Institute (EBRI) and Mathew Greenwald & Associates. The findings were discussed earlier today by Mathew Greenwald during an American Savings Education Council partner’s meeting held as part of National Retirement Planning Week®.
Recommended by 28 people Collecting Social Security Early May Limit Retirement Security
As part of National Retirement Planning Week®, the Insured Retirement Institute (IRI) today featured a webinar for financial advisors to help their clients maximize Social Security benefits as part of a winning retirement strategy. By collecting benefits before their normal retirement age, nearly three-quarters of all current Social Security recipients are receiving reduced benefits and limiting their retirement security.
Recommended by 38 people Collecting Social Security Early May Limit Retirement Security
As part of National Retirement Planning Week®, the Insured Retirement Institute (IRI) today featured a webinar for financial advisors to help their clients maximize Social Security benefits as part of a winning retirement strategy. By collecting benefits before their normal retirement age, nearly three-quarters of all current Social Security recipients are receiving reduced benefits and limiting their retirement security.
Recommended by 47 people Majority of Boomers Lack Optimism in Their Financial Future
The Insured Retirement Institute (IRI) today released new findings from its second annual survey on Boomers’ retirement expectations that paint a bleak picture regarding Boomers’ confidence in their financial future. With the economy still recovering from the financial crisis and recession, few Boomers are optimistic that their financial situation will improve during the next five year as 62 percent believe it will be about the same or that it will deteriorate.
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