Investment Instruments

CITs are arguably changing the retirement investment landscape because of an insistence on behalf of plans sponsors of all sizes, but particularly the largest, to keep their exposure to management fees in control.

Increased fixed and variable annuity sales during the fourth quarter pushed industry-wide sales to $59.3 billion, up 3.1 percent from the prior quarters sales of $57.5 billion and up 17.2 percent from fourth quarter 2012 sales of $50.6 billion.

Symetra Chief Executive Officer Tom Marra and Fidelity & Guaranty CEO Lee Launer have lauded Iowas approach to indexed insurance products, which some consumer groups have criticized as potentially risky retirement vehicles.

The final rule, for starters, could include restrictions like preventing firms from paying their brokers or agents more for selling in-house products.

The interest rates offered by major banks operating in New Orleans, Houston, Boston, and Burlington, Vt., are 31-54 percent higher than the national average, the survey found.

Feeble returns on the safest investments such as bank deposits and fixed-income securities represent a financial repression transferring money from savers to borrowers, says Bill Gross, manager of the worlds biggest bond fund.