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's mission is to provide the public with information and resources to assist in a better understanding of insured retirement income and the role these products play in financial retirement planning.
The Insured Retirement Institute (IRI) and the National Retirement Planning Coalition (NRPC) released a new fact sheet focused on the basics of investing as part of their six-month national retirement planning campaign.
The Insured Retirement Institute (IRI) and the National Retirement Planning Coalition hosted a webinar for financial advisors featuring staff members from the Social Security Administration. The webinar, presented as part of National Retirement Planning Week®, was intended to help advisors facilitate conversations with their clients about the program and to help them understand their Social Security benefits and claiming options.
The Insured Retirement Institute (IRI) today released the top 10 financial tips for college graduates from IRI President and CEO Cathy Weatherford.
Unplanned healthcare costs can act like a landmine in retirement, damaging or even destroying what would otherwise appear to be the most carefully constructed portfolios. Even planned healthcare costs are an increasing financial challenge: The rise in medical inflation coupled with uncertainty about the future of government programs makes healthcare costs perhaps the biggest obstacle to a financially secure retirement.
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.”
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.