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?
Tools to Assist in Your Investment Decisions
IRI Joins Effort to Preserve Tax Incentives that Encourage Retirement Savings
The Insured Retirement Institute (IRI) joined more than two dozen other financial services associations to provide written testimony to the U.S. House Ways and Means Committee. The organizations stated their commitment to preserving and enhancing the voluntary employer-provided retirement system and the tax incentives that support it, which has helped millions of American families attain a secure retirement. The organizations urged the committee to preserve the current tax treatment that encourages employers to offer and workers to contribute to retirement plans.
For the entire written testimony, click HERE.
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