The FIDx Five: Congress Tackles Annuity-Focused Bill
Retirement, Annuity, & Fintech Insights
The latest iteration of bipartisan legislation seeks to make annuities a standard 401(k) investment choice. Find out more about this developing story and four other news items in this edition of “The FIDx Five.”
Annuities as a QDIA?
A bill in Congress could revolutionize retirement savings, positioning annuities as a go-to 401(k) investment for future retirees.
Source: 401(k)Specialist, “Reintroduced Bill Provides Relief for Annuities in QDIAs,” 6/12/23
DOL's Race Against Time
Amid political challenges and brewing legal battles, experts question the DOL's ability to unveil its critical 'Conflict of Interest in Investment Advice' regulation by the set deadline.
Source: InsuranceNewsNet, “Analysts doubt DOL can produce a new fiduciary rule by August,” 6/21/23
Breaking the 'A' Word Barrier
As clients voice their financial fears, seize the opportunity to demystify annuities and their potential benefits for comprehensive financial planning.
Source: Think Advisor, “5 Types of Clients Who Should Consider Annuities,” 6/21/23
Ideal Savings Far Exceed Actual Nest Eggs
With a substantial mismatch between the typical retirement savings and the ideal $1.27 million target, the US faces a stark retirement crisis.
Source: CBS News, “Here's how much money Americans think they need to retire comfortably,” 6/22/23
Booming Insurance Sector
With baby boomers living longer and insurance job numbers soaring to record highs, the industry sees unprecedented demand for various roles, particularly brokers and agents.
Source: Life Annuity Specialist, “Insurance Jobs Hit All-Time High as Boomers ‘Refuse to Die,’” 6/21/23
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