Lifetime income tax

Pacific Life Continues Strategic Focus on Lifetime Income and Pension Risk Transfer Solutions

Retrieved on: 
Wednesday, November 15, 2023
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Launched in early 2020, Pacific Life’s Institutional Business team remains focused on providing innovative retirement solutions to help pave the way for more successful retirement journeys.

Key Points: 
  • Launched in early 2020, Pacific Life’s Institutional Business team remains focused on providing innovative retirement solutions to help pave the way for more successful retirement journeys.
  • Neeley’s team will focus on defined contribution lifetime income (DCLI) and pension risk transfer (PRT) solutions.
  • “This is a critical time for retirement preparedness, and we're committed to developing innovative lifetime income solutions,” said Woolfolk.
  • Neeley joins Pacific Life with an extensive financial services background, previously holding leadership positions at three Fortune 500 companies.

Americans Underestimate the Impact of Health in Retirement Planning; Advisors Prioritize Protected Income When Addressing Peak 65 Challenges

Retrieved on: 
Tuesday, September 19, 2023
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WASHINGTON, Sept. 19, 2023 /PRNewswire-PRWeb/ -- As our country reaches Peak 65 next year, many Americans dangerously underestimate the impact healthcare costs and health challenges, like cognitive decline, may have on their retirement plans, according to the Alliance for Lifetime Income's (ALI) latest report from the 2023 Protected Retirement Income and Planning (PRIP) study.

Key Points: 
  • WASHINGTON, Sept. 19, 2023 /PRNewswire-PRWeb/ -- As our country reaches Peak 65 next year, many Americans dangerously underestimate the impact healthcare costs and health challenges, like cognitive decline, may have on their retirement plans, according to the Alliance for Lifetime Income's (ALI) latest report from the 2023 Protected Retirement Income and Planning (PRIP) study.
  • Peak 65 is a historic demographic phenomenon that occurs in 2024, when more Americans will turn 65 than at any time in history.
  • The fourth chapter of the multi-part study, Growing Health-related Concerns in Retirement , examines the connections between physical, cognitive and financial health as consumers prepare for and live in retirement.
  • However, those who do discuss cognitive decline also look to protected income to support the unique challenges of Peak 65ers.

Despite Facing Greater Obstacles to Retirement Savings, Peak 65 Women Outpace Men in Prioritizing Lifetime Income for Retirement

Retrieved on: 
Tuesday, August 1, 2023
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Washington, DC, Aug. 1, 2023 /PRNewswire-PRWeb/ -- As the largest number of Americans in history turn age 65 next year, more women than men in this group are looking to protected income as a solution to face down the nation's retirement income crisis, according to the Alliance for Lifetime Income (ALI) and its latest report from the 2023 Protected Income and Planning (PRIP) study.

Key Points: 
  • The third chapter from the multi-part 2023 PRIP study, Retirement Outlooks Among Peak 65 Women, examines the unique challenges women ages 61 to 65 (the Peak 65 group) navigate.
  • Key findings among Peak 65 women include the following:
    53% do not think their retirement savings and sources of income will last their lifetime compared to 36% of Peak 65 men.
  • Peak 65 men are twice (20%) as likely to be extremely familiar with annuities as Peak 65 women (10%).
  • 48% of Peak 65 women are extremely interested in owning an annuity that guarantees steady lifetime income compared to 37% of Peak 65 men.

Financial Professionals Look to Annuities to Protect Clients, as Industry Shifts Retirement Investing Strategies

Retrieved on: 
Wednesday, June 14, 2023
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WASHINGTON, June 14, 2023 /PRNewswire-PRWeb/ -- The Alliance for Lifetime Income (ALI), the nonprofit consumer organization that educates Americans on ways to protect their retirement, released the first wave of its multi-part 2023 Protected Retirement Income and Planning (PRIP) study today.

Key Points: 
  • In its fourth year, the annual study examines the rapidly changing retirement planning landscape, its effects on advisors and their clients, sentiments around traditional investment strategies and retirement security, shifts in retirement planning strategies and the emerging role of annuities in portfolio allocations.
  • "The retirement savings crisis is about to become a retirement income crisis, so advisors must do everything they can to help clients be better prepared – especially those close to retirement."
  • As part of the 2023 PRIP, ALI also released Chapter 1: Americans Change Retirement Savings Strategies, which examines shifts in consumer attitudes and behaviors toward retirement savings.
  • The study includes 519 financial professionals who conduct retirement planning for individual clients and an oversample of Peak 65 consumers between 61 and 65.

Americans Look to Annuities as Key Solution to Avert Retirement Income Crisis

Retrieved on: 
Wednesday, June 14, 2023
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WASHINGTON, June 14, 2023 /PRNewswire-PRWeb/ -- The Alliance for Lifetime Income (ALI), the nonprofit consumer organization that educates Americans on how to protect their retirement, released the first wave of its multi-part 2023 Protected Retirement Income and Planning (PRIP) study today.

Key Points: 
  • In its fourth year, the annual study examines the rapidly changing retirement income planning landscape, including shifts in consumer attitudes and behaviors toward retirement savings.
  • According to the first chapter from the 2023 PRIP, Americans Change Retirement Savings Strategies, people close to retirement or recently retired are still not prepared.
  • "The retirement savings crisis is about to become a retirement income crisis, so we have to continue to do everything we can to help people better prepare – especially those close to retirement."
  • Once consumers are made aware of the new law, 77% say employers should offer protected retirement income (annuities) in 401(k) and 403(b) employer-sponsored retirement plans.

Should’ve, could’ve, would’ve: Over 60% of retirees wish they could get a “do-over” in retirement planning, according to a recent study from Lincoln Financial Group1

Retrieved on: 
Thursday, May 25, 2023
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According to a recent study from Lincoln Financial Group (NYSE: LNC), more than 60% of retirees would like to go back and plan differently for their retirement if they could.2 Overwhelmingly, retirees wish they’d started saving earlier and saved more for retirement.

Key Points: 
  • According to a recent study from Lincoln Financial Group (NYSE: LNC), more than 60% of retirees would like to go back and plan differently for their retirement if they could.2 Overwhelmingly, retirees wish they’d started saving earlier and saved more for retirement.
  • Investors can learn more about annuities by accessing educational resources from the Alliance for Lifetime Income , or by visiting LincolnFinancial.com to be connected with a financial professional.
  • “There aren't many opportunities for a do-over when it comes to retirement planning.
  • Yet, two of the major concerns that retirees voiced in our study – guaranteed income and protection from loss – can be addressed with annuities,” said Tim Seifert, senior vice president and head of Retirement Solutions Distribution at Lincoln Financial.

RetireOne Partners with Corebridge Financial to Provide RIAs with Greater Choice for Commission-Free Retirement Income Solutions

Retrieved on: 
Tuesday, March 28, 2023
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RetireOne ®, the leading independent platform for fee-based insurance solutions, today announced a partnership with Corebridge Financial , formerly AIG Life & Retirement, to distribute two fee-based annuity solutions on RetireOne’s fiduciary annuity + insurance marketplace.

Key Points: 
  • RetireOne ®, the leading independent platform for fee-based insurance solutions, today announced a partnership with Corebridge Financial , formerly AIG Life & Retirement, to distribute two fee-based annuity solutions on RetireOne’s fiduciary annuity + insurance marketplace.
  • Power Index Advisory has two lifetime income options: Lifetime Income Plus Multiplier Flex® and Lifetime Income Max®.
  • “At Corebridge Financial, we’re here to help financial professionals take action for their clients, delivering solutions that offer principal protection alongside growth potential, liquidity options and protected lifetime income,” said Eric Taylor , RICP®, Senior Vice President, Independent Annuity Distribution at Corebridge Financial.
  • “Our partnership with RetireOne will provide more RIAs with access to Corebridge advisory solutions that go beyond traditional portfolio construction strategies to help move financial futures forward.”
    For more information on how to access these solutions, please visit RetireOne.com .

Elton John and the Alliance for Lifetime Income Continue Their "Yellow Brick Road to Financial Freedom" Partnership

Retrieved on: 
Tuesday, March 7, 2023
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WASHINGTON, March 7, 2023 /PRNewswire-PRWeb/ -- Elton John, the number one male recording artist of all time, announced today the continuation of his partnership with the Alliance for Lifetime Income to help his fans understand the importance of having protected income in retirement.

Key Points: 
  • The Alliance was Elton's first and only non‐profit tour partner and the sole presenting partner of his 2022 Farewell Yellow Brick Road tour in North America last year.
  • Together, the Alliance, Elton and his husband David Furnish, CEO of Rocket Entertainment and chairman of the Elton John AIDS Foundation, heard from hundreds of thousands of fans along tour stops.
  • The message was clear – financial security and planning for the next phase in life are hugely important to them.
  • Our continued partnership with the Alliance for Lifetime Income furthers our mission to stand for human dignity at every stage of life."

RISA and the Retirement Income Institute Release Groundbreaking Three-Part Research Series

Retrieved on: 
Wednesday, January 11, 2023
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Today, RISA® (Retirement Income Style Awareness), the psychology-backed, research-driven income personality assessment transforming retirement income planning, and the Retirement Income Institute of the Alliance for Lifetime Income – a non-profit consumer education association that creates awareness and educates Americans about the value and importance of having protected income in retirement, announced the release of a three-part research series that changes the conversation about retirement income strategies.

Key Points: 
  • Today, RISA® (Retirement Income Style Awareness), the psychology-backed, research-driven income personality assessment transforming retirement income planning, and the Retirement Income Institute of the Alliance for Lifetime Income – a non-profit consumer education association that creates awareness and educates Americans about the value and importance of having protected income in retirement, announced the release of a three-part research series that changes the conversation about retirement income strategies.
  • View the full release here: https://www.businesswire.com/news/home/20230111005296/en/
    The research, which was commissioned by the Retirement Income Institute and authored by RISA co-founders and retirement income authorities Alex Murguia and Wade Pfau, turns traditional retirement income planning on its head by first focusing on the consumer and their preferences.
  • “Pensions have virtually disappeared and the traditional model for retirement income security may not provide sufficient, reliable and protected retirement income for Americans planning for retirement.
  • A new framework is needed that focuses on how protected income from annuities can provide the retirement security consumers need and are looking for.”
    The three-part research series focuses on the critical building blocks of a consumer-first retirement income approach, including:
    “Throughout the research process, we were able to surface undeniable connections between retirement preferences and retirement styles, and illustrate how these styles indicate the distinct retirement income strategies that resonate most closely with how each individual wants to generate retirement income,” said Wade Pfau.

Two-thirds of Women See a U.S. Recession Ahead, but Plan to Double-down on Retirement Savings

Retrieved on: 
Monday, November 14, 2022
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WASHINGTON, Nov. 14, 2022 /PRNewswire/ -- New research released today from HerMoney and the Alliance for Lifetime Income reveals that over two-thirds (68 percent) of women see a U.S. recession ahead. However, in these uncertain times—when just two percent say they doubt or don't believe a recession is imminent—women are doubling down to secure their financial futures.

Key Points: 
  • The survey finds that despite a cloudy outlook, 92 percent of women plan to maintain, or even increase, their contributions to retirement accounts, including 401(k)s or IRAs.
  • "Not only do women say that they will stay committed to saving for retirement, two-thirds plan to 'double down' on their investments and adopt a now-is-the-time-to-buy mindset."
  • If the U.S. does enter a recession, women are willing to be conservative elsewhere.
  • Four out of five women (80 percent) prefer making the financial decisions themselves versus deferring to a decision-making partner.