Retirement

AXA Equitable Life Insurance Company has been an innovator in the variable annuity industry. The company was a pioneer in the area of guaranteed living benefits with the launch of the first guaranteed minimum income benefit . AXA has recently launched a new variable annuity product named "Retirement Cornerstone." Retirement Cornerstone features a "dual account platform" that provides the potential for long-term asset accumulation and growth as well as downside protection through a guaranteed...

Members of Congress and officials from the Departments of Treasury and Labor are working on options that would provide sources of guaranteed lifetime income to participants in 401k and other pension plans. At a high level, it is clear that the Obama Administration wants to create structures and incentives for: Increasing retirement savings. Providing people with the ability to turn those accumulated savings into streams of income that last through retirement. A trial program that would involve...

Bank of America is positioning itself to capitalize on perceived opportunities in the retirement planning market. Bank of America's acquisition of Merrill Lynch creates a number of new and interesting cross-selling opportunities. The head of BofA's wealth management and brokerage operations, Sallie Krawcheck, has identified retirement as a growth driver for the company. Source: Financial Planning Magazine Full Story