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February 22, 2013
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Financial and wealth management news for the retirement community

  Top News 
  Industry Update 
  • Advisers: Wait until retirement to put funds in Roth IRA
    Some financial decisions are best made through procrastination, and deciding when to move savings into a Roth individual retirement account is one of them, advisers say. Waiting until retirement to shift funds usually results in a lower tax rate than making the move midcareer, they say. Reuters (2/20) LinkedInFacebookTwitterEmail this Story
  • Schwab's new ETF 401(k) seeks to reduce costs
    Schwab Retirement Plan Services has launched a variation of its Schwab Index Advantage 401(k) that invests solely in exchange-traded funds. It's the latest low-cost product introduced by the company. "We believe integrating ETFs into a 401(k) lineup can drive costs down further and provide workers with the opportunity to save even more for retirement," Schwab's Steve Anderson said. Financial Advisor online (2/21) LinkedInFacebookTwitterEmail this Story
  • Overall annuity sales fell 8% last year, LIMRA says
    Annuity sales were $219.4 billion in 2012, an 8% decline despite record-high sales of indexed annuities and growing sales of deferred-income annuities, LIMRA said. Guaranteed lifetime-withdrawal-benefit riders drove sales of indexed annuities, which rose 5% to $33.9 billion last year. Variable-annuity sales fell 7% to $147.4 billion, and sales of fixed annuities were down 11% to $72 billion, the lowest in more than a decade, LIMRA said. Insurance Networking News (2/21), National Underwriter Life & Health (2/21) LinkedInFacebookTwitterEmail this Story
  Financial Literacy 
  • Groups offer money-management assistance for troops
    Members of the military often are the targets of financial fraud, and some say they can be victims of their own poor financial-management practices. Groups including the Financial Industry Regulatory Authority and TurboTax are offering financial help for members of the military, such as free credit reports and tax software. USA Today (2/20) LinkedInFacebookTwitterEmail this Story
  On the Economy 
  • Cantor urges changes to federal retirement system
    Federal workers should be forced to contribute more toward their retirement as a way to help counter the budget cuts that are set to take effect March 1, says House Majority Leader Eric Cantor, R-Va. "Virtually no one has both a defined benefit and a defined contribution retirement system in the private sector," Cantor spokesman Rory Cooper wrote in an e-mail. "We wouldn't eliminate it, but we would make the employer [taxpayer] subsidy less generous." The Washington Post/Federal Eye blog (2/21) LinkedInFacebookTwitterEmail this Story
  Building Your Practice 
  • Expert: Advisers should focus on women's Social Security planning
    Women often outlive their husbands, spend fewer years in the workforce and generate less in lifetime earnings, making Social Security planning especially important for them, experts say. By creating a "demand for education" among this clientele, financial advisers can establish goodwill and may benefit from women's growing presence in the workforce and their need for financial advice, says Martha Sheddon of ClientFirst Financial. AdvisorOne (2/20) LinkedInFacebookTwitterEmail this Story
The question should be, is it worth trying to do, not can it be done."
--Allard Lowenstein,
American politician

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