Bank of America will cut about 30,000 jobs over the next few years in a bid to save $5 billion per year. The cost-cutting drive is part of a broader effort to reshape and shrink the nation's largest bank as it copes with fallout from the housing bust.
Pension shortfalls will be exacerbated by underestimating life expectancies, according to a report by Swiss Re. An essential element to preparing for longevity risk, the reinsurer found, is to develop better predictive methods for determining mortality.
Some say that life insurance is, well, boring; it lacks the sizzle of a long-term care policy or critical illness product. Even so, life insurance of all stripes remains relevant and vital to todays employee.
Although an entire series of target date funds may be marketed to retirement plan sponsors, they may decide to choose only a few funds out of the series. So say data from a new analysis of 401(k) recordkeeper platforms released Tuesday by the Financial Research Corporation (FRC).
New disclosure requirements have prompted the Principal Financial Group to launch a new Web feature that will help plan sponsor clients and their financial professionals comply with new disclosure rules.