Defined terms for the annuity market and lifetime income landscape.
Internal rate of return is the discount rate at which the net present value of a stream of cash flows equals zero, expressed as an annualized rate.
An investment advice fiduciary is a person who renders investment advice for a fee or other compensation with respect to any moneys or other property of an employee benefit plan or an IRA, and who is treated as an ERISA fiduciary under Section 3(21)(A)(ii) of ERISA with respect to that advice.
