Blogs - Banking and Financial Services Outsourcing
| Outsourcing helps wealth management firms re-energize their focus on clients |
| By Himanshu Bajaj on 9/21/2009 8:06:19 AM |
Wealth management companies have been severely impacted by the recession. To underscore its impact, Assets Under Management (AUM) were down 19.4 per cent in December 2008 as compared to a year earlier according to a survey of top wealth managers by Wealth Managers 2009. Additional impacts on the industry also come from a plethora of financial regulations such as MIFID and IAS 37 and a new European Union proposal to regulate alternative investment fund managers. |
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| US Home Affordable Modification Program: A strategy for stepping up the momentum |
| By Amit Goyal on 8/31/2009 9:55:04 AM |
Millions of US homeowners who are struggling to avoid foreclosure and retain their homes have found a lifeline in the recently approved “Home Affordable Modification” program. The federal government approved the plan that permits homeowners to modify their mortgages in order to lower their monthly payments, pledging USD 75 billion to stem the rising tide of foreclosures. |
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| Retirement Plan Benefit Payments |
| By Himanshu Bajaj on 3/23/2009 |
In response to my previous post, a few readers suggested that indexation available via gains in capital markets will boost the value of retirement assets over the long term, assuming the markets will recover. Others are seeking an answer as to what can be done to address the situation. In the meantime, with the collapse of asset values, the scenario has become worse for pension funds and IRAs. A few group IRAs in the US are even suspending their matching contribution.
The situation is compounded by the decline in markets, failures of businesses to generate enough revenue, and lengthening life spans, changing the actuarial tables. However, employees and employers can get a head start if they take a few simple steps...
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| Pension programs – Is it the next imminent crisis in the U.S.? |
| By Himanshu Bajaj on 2/13/2009 |
I recently came across a paper on public pension programs in US by Robert Novy-Marx and Joshua D. Rauh from University of Chicago. According to the paper “Insuring both taxpayers against funding deficits and plan participants against benefit reductions would cost almost $2 trillion today, even though governments portray state pensions as almost fully funded.”
Upon further research I came across some more facts from Employee Benefit Research Institute (EBRI), Department of Labor (DOL) and Pension Benefit Guarantee Corporation (PBGC)... |
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