Annuity/money purchases
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Indiana Public Retirement System searching for managers to run a combined $1.1 billion
Indiana Public Retirement System issued RFPs for active international fixed-income managers to run a total of $900 million and for providers of life annuities to run possibly an initial total of $200 million.
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Sun Life to sell U.S. annuity business to Guggenheim
Sun Life Financial agreed to sell a U.S. annuity business in a $1.35 billion deal to a firm owned by Guggenheim Partners shareholders to cut risks in equity markets and interest rates.
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NBA to create annuity plan for playersNational Basketball Association players, who were paid an average of about $5 million last season, will be required for the first time to save money for retirement.
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Comment letters back lifetime annuity proposals
Plan executives and service providers are expected to support proposed regulations on lifetime annuities when the IRS holds a public hearing on June 1 in Washington.
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Retirement income: New strategies should be welcomedThe Obama administration is now beginning to propose regulatory changes affecting retirement plans to encourage the use of lifetime income solutions for retirees.
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Partial annuities included in proposed rules for lifetime income options
Providing partial annuities and reducing restrictions on so-called deferred longevity annuities were parts of proposed regulations on lifetime income options in retirement plans announced Thursday by the Treasury Department.
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United Technologies' DC plans to add lifetime income optionUnited Technologies Corp. plans to introduce a lifetime income option embedded within a 401(k) plan in the second quarter of 2012, making the Hartford, Conn.-based manufacturer the largest sponsor to employ a such a product.
