Experts discuss riders for in-plan annuities

Experts weigh in on riders such as guaranteed minimum withdrawal benefits and guaranteed lifetime withdrawal benefit being used in in-plan annuities. Bob Melia, executive director of the Institutional Retirement Income Council, says riders are better suited to individuals than to defined contribution retirement plans.

Full Story: PlanAdviser online (10/23) 

Don't stress just yet about PPP forgiveness

Reflecting on Paycheck Protection Program loan forgiveness, Jared Hecht, CEO of Fundera, recommends taking a patient approach at this stage. Recipients still have ample time to apply, and there's a possibility that blanket forgiveness for smaller loan amounts could be forthcoming, he writes.

Full Story: Forbes (10/27) 

Expect remote life underwriting to stay after pandemic

Remote underwriting for life insurance policies will continue even after the coronavirus pandemic is over, according to Shelby Hollister-Share, head of life underwriting at Equitable. "Insurers are likely going to keep expanding more and more into this technological, no-touch environment, and one day -- once social distancing measures have been lifted -- will be able to provide clients with a comprehensive set of high- and low-touch underwriting options that fit their preferences," she writes.

Full Story: ThinkAdvisor (free registration) (6/24) 

Labor Dept. proposes fiduciary exemption

The US Labor Department has proposed an exemption to the Employee Retirement Income Security Act that would let investment-advice fiduciaries be compensated for advice given to clients. The exemption would include advice on rollovers from employee benefit plans to products such as IRAs.

Full Story: Pensions & Investments (free access for SmartBrief readers) (6/29),  ThinkAdvisor (free registration) (6/29) 

Surveys: Advisors must focus on services clients want

Two surveys by Carson Coaching, one of financial advisors and one of consumers, show a gap between advisors' services and what clients value. To close the gap, Carson says advisors should focus on the three areas clients value most: engagement, fee transparency and planning.

Full Story: InvestmentNews (tiered subscription model) (6/29) 

NAIFA and three other industry groups are expressing support for a bill that instructs the Securities and Exchange Commission to create a new form for the registration of index-linked annuities. The legislation "will lower a significant barrier that is preventing this innovative retirement income product from being used by more consumers who desire an annuity product providing some protection of their investment principal from market loss volatility, while also allowing participation in market growth," the groups said in a letter.

Full Story: InsuranceNewsNet Magazine online (6/8) 

Economists predict Q3 start for US recovery

More than two-thirds of economists surveyed by The Wall Street Journal say US economic recovery from the coronavirus pandemic will get underway in the third quarter. Respondents expect an unemployment rate of 9.6% by December, lower than an estimate of 11.4% in a previous survey.

Full Story: The Wall Street Journal (tiered subscription model) (6/11) 

Experts: Caution clients about coronavirus withdrawals

Advisors should warn clients about the dangers of obtaining coronavirus hardship withdrawals from their retirement plans if they don't meet the requirements stated in the Coronavirus Aid, Relief and Economic Security Act, industry experts say. "Down the line, if IRS discovers the issue on audit, the participant can be subject to substantial penalties," one lawyer said.

Full Story: PlanAdviser online (6/11) 

Most savers are not making large-scale changes to retirement plans in response to the coronavirus pandemic, according to a YouGov survey commissioned by Forbes Advisor. The survey shows 11% of respondents plan to work longer, while 5% of respondents have adjusted asset allocation.

Full Story: Forbes (5/11)