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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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Bullet-titleConsumers

Tools to Assist in Your Investment Decisions

IRI CEO Nationally Recognized As Top Association Executive

07.29.2010

CEO Update Magazine Ranks Cathy Weatherford Among the

Top Chief Executive Officers for 2010

WASHINGTON, D.C. -  CEO Update Magazine has selected Insured Retirement Institute (IRI) CEO Cathy Weatherford as one of the nation's top association executives for 2010. Weatherford joins the ranks of 20 elite leaders that were selected from hundreds of candidates.

In selecting Weatherford, the magazine noted that "since last year, she presided over the transformation of the former NAVA (the Association for Insured Retirement Solutions) to IRI, complete with a new name and brand, a District address and a slate of new staffers. IRI also expanded its mission to attract financial advisors, partnering with members Morningstar and Beacon Research to distribute quarterly annuity data."

"This honor is a fitting tribute to the incredible leadership and vision that Cathy has brought to the association over the last 20 months," said IRI Board of Directors Chairman, President of Retirement Savings for AXA Equitable Jamie Shepherdson. "Her unwavering dedication and commitment to IRI's membership has directly resulted in the successful rebranding and expansion of IRI.  The entire Board of Directors joins me in congratulating her on this well earned recognition and we look forward to her continued strategic direction as we work together to advance the mission of IRI." 

For the second time, CEO Update has tackled the formidable task of assembling, from a field of hundreds of leaders, a sample of those whose qualities illustrate standards for the profession. To identify these CEOs, the magazine surveyed those who know association leadership best-CEOs themselves, executive recruiters and others with expertise in the field. To their nominations, the magazine added CEO Update reporting and knowledge developed in more than 20 years of covering association executives and the traits that make them stand out.

In making their selections, CEO Update considered the following criteria:

  • Legislative and advocacy success
  • Leadership proficiency or style
  • Skill in raising a group's public profile
  • Coalition and consensus building
  • Member service

CEO Update Magazine's list of top association CEO's can be found HERE.

The recognition of Weatherford's accomplishments comes one year since IRI initiated its extensive and successful rebranding efforts from the old NAVA. The Institute is engaged in a widespread roll out of its Members Only Website, with more than 30,000 financial professionals currently enrolled as members. The online portal - www.myIRIonline.org - offers IRI members exclusive access to the latest industry news, resources, FINRA-cleared, client-approved materials, discounted online continuing education credits, research and more. 

In addition, IRI recently expanded its Board of Directors with the addition of six prominent leaders to its already strong Board. And over the course of the past 12 months, IRI has become the go-to source for members, non-members and the media as a trusted supplier of high-quality research, education and much more. IRI is the only association that represents the entire supply chain of insured retirement strategies, with membership spanning major insurers, banks, asset managers, broker-dealers and financial advisors.

Over the past year, IRI's message and efforts have spanned from Capitol Hill to Main Street -  making measureable inroads with key regulators, Administration leaders and elected state officials, while informing consumers of the role insured retirement strategies can play in a holistic retirement plan. From working with the SEC to create and make available a variable annuity summary prospectus, to meeting with top Department of Treasury officials to discuss guaranteed lifetime income strategies, IRI's successful advocacy has positively affected every corner of the industry.

This past April, IRI led a coalition to help educate the 77 million Baby Boomers on the need for quality retirement planning during National Retirement Planning Week. In total, since May of 2009, IRI has successfully messaged the one-of-a-kind value proposition of insured retirement strategies to a unique audience of more than 130 million readers.

About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is a not-for-profit organization and is the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. 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. Visit www.IRIonline.org to experience the new, vast resources of the new Insured Retirement Institute for yourself.               

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Contact:
Danielle Holland
DHolland@irionline.org
202-469-3000


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