Tag: guaranteed income

LIMRA: Individual Annuity Sales Shatter Prior Record in 2022

LIMRA: Individual Annuity Sales Shatter Prior Record in 2022

At the start of 2008, the effective federal funds interest rate was 3.94% and poised to drop as the subprime crisis took hold and the Federal Reserve sought to reduce borrowing costs. In 2022, consistent rate hikes meant to tame inflation brought the rate to 4.1% by December.

In both circumstances, annuity sales were driven in part from investors fleeing to the safety of guaranteed returns from fixed annuity products, according to Todd Giesing, assistant vice president, LIMRA annuity research. In 2022, however, investors were doing so in a rising rate environment in which they could capture guaranteed returns from […]

New Rule Strengthens Protections For Annuity Consumers In Tennessee

New Rule Strengthens Protections For Annuity Consumers In Tennessee

WASHINGTON, Jan. 27 (TNStalk) — The American Council of Life Insurers posted the following joint statement on Jan. 26, 2023:

American Council of Life Insurers (ACLI) President and CEO Susan Neely and National Association of Insurance and Financial Advisors’ (NAIFA) Tennessee President Scott Flowers issued the following joint statement on the best interest annuity rule adopted recently by the Tennessee Department of Commerce and Insurance.

"The new rule adopted by Director Carter Lawrence and the Tennessee Department of Commerce and Insurance advances important consumer safeguards and adds to the nationwide push for enhanced protections for annuity consumers."Tennessee becomes the 31st state […]

sbi annuity deposit scheme, SBI’s amazing scheme! Deposit money in the scheme once, every month expenses will be paid – sbi annuity deposit scheme 2023 interest rate and benefits to know before investing Pipa News

sbi annuity deposit scheme, SBI’s amazing scheme! Deposit money in the scheme once, every month expenses will be paid – sbi annuity deposit scheme 2023 interest rate and benefits to know before investing

New Delhi : State Bank of India (SBI), the country’s largest public sector bank, launches various schemes from time to time keeping in mind the needs of its customers. Some customers want to invest money in a plan where they will receive a lump sum in the future. On the other hand, some people try to invest their retirement money where, they will get a fixed […]

Universal Basic Income and the Good of Work

Andrea Veltman

Proponents of a universal basic income argue that, regardless of work and other income, every adult citizen should receive a modest, uncondi- tional income that he or she can augment as he or she chooses. 1 Universal basic income is a bold and unconventional idea with an implicit ethical premise that the lives of all people are valuable in themselves and, if peo- ple are to live well, people need an income, a primary means of living. The ideal level of universal income would be sufficient for subsistence, but proponents are generally willing to start with smaller sums […]

Understanding Evanston’s achievement gap: Study finds money-mind connection

Understanding Evanston’s achievement gap: Study finds money-mind connection

Editor’s note: This occasional series will explore various aspects of childhood achievement, readiness and markers for success and how they relate to Evanston.

In considering Evanston’s achievement gap, one of the largest in the country, there are many things known: that the gap between racial and ethnic groups occurs between birth and third grade , that academic growth happens at similar rates between grades three and eight regardless of race or income, and that the reasons for the gap are socioeconomically driven. For the poor, opportunity is too expensive, and those disparities have lifelong, adverse effects on their children.

In […]

Here’s How Philadelphia’s First Guaranteed Income Program Is Going

Here’s How Philadelphia’s First Guaranteed Income Program Is Going

The pilot program provides 300 households with payments for 30 months.

The Philadelphia Housing Development Corporation (PHDC) and City of Philadelphia are touting the success of PHLHousing Plus , a guaranteed income program focused on alleviating housing costs for renters.

“Because of rising costs for basic needs, persons can often be at risk of housing insecurity,” said David Thomas, CEO of PHDC, in a statement . “This extra income can help them bridge the gap in their finances to create more room in their budget to make better choices for them and their families.”In 2018, 54% of rental households […]

Stimulus checks: Are you in one of the 98 cities planning to provide long-term funding?

Stimulus checks: Are you in one of the 98 cities planning to provide long-term funding?

As stimulus checks appear to be a thing of the past, 98 U.S. towns are delivering universal basic income to low-income individuals (UBI). As stimulus checks appear to be a thing of the past, 98 U.S. towns are delivering universal basic income to low-income individuals (UBI).

The following cities are either implementing a pilot program or are in the planning stages: What Is Universal Basic Income?

UBI is a government program that provides eligible residents with a monthly stipend. According to the Stanford Basic Income Lab, the following five features are shared by all UBI programs: > Periodic payments […]

Stimulus Update: Is Your City One of the 98 Considering Permanent Stimulus?

Stimulus Update: Is Your City One of the 98 Considering Permanent Stimulus?

Image source: Getty Images As stimulus checks appear to be a thing of the past, 98 U.S. cities are stepping in to help low-income households by providing universal basic income (UBI). The following cities either have a pilot program underway or in the planning phase: What is universal basic income?

UBI is a government program in which every eligible resident receives a monthly payment. According to the Stanford Basic Income Lab, UBI programs have these five characteristics in common:

> Periodic payments. Rather than receive a one-time payment, eligible recipients receive regular payments. More often than not, payments are […]

7 Universalism in the age of workfare Attitudes to basic income in Sweden and Finland

Jan Otto Andersson and Olli E. Kangas

Introduction

The Nordic countries are widely respected for their universal social policy. ‘Universalism’ in this context means that the right to social security is guaranteed on the basis of either citizenship or residency. Social security in Central Europe – Germany, for example – is more closely tied in with the position in the labour market, whereas in the Anglo-Saxon countries – in Australia and New Zealand in particular – benefits are conditional on the basis of need.However, also in the Nordic countries the last resort income assistance is conditional in several respects:1 To be […]

Near-Retirees Need Help Maximizing Retirement Income Sources

Near-Retirees Need Help Maximizing Retirement Income Sources

The findings of a new survey suggest that plan sponsors and professionals should be proactive in providing education and advice, as most near-retirees indicate they are looking for help to maximize retirement benefits while minimizing taxes.

According to Allspring Global Investments’ 20th annual retirement survey , guaranteed income, savings targets, tax management, and the complexity of Social Security and Medicare benefits are among the areas about which near-retirees could use some guidance.

“As fewer participants retire with employer-sponsored defined benefit plans, concerns of the newly retired are more evident with each passing year,” explains Nate Miles, Head of Retirement at Allspring. […]