Ernst & Young Announces Comprehensive Retirement Income Database; ''Knowledge Bank'' Offers One-Stop Data Source for Industry.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Ernst & Young Insurance and Actuarial Advisory Services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal (IAAS IAAS Integration as a Service (form of Software as a Service) IAAS International Association of Agricultural Students IAAS Institute of Agriculture and Animal Science (Nepal) ) announced today the availability of its Retirement Income Knowledge Bank(TM), a continuously updated database designed to provide retirement income product information to insurance companies, banks, broker-dealers, and money managers. Available beginning February 1, 2006, the database allows companies to research and compare post-retirement financial products including guaranteed income, asset protection, combination products such as variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. with LTC LTC abbr. lieutenant colonel riders, longevity protection, long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. , underwritten annuities, and personal defined benefit plans Defined benefit plan A pension plan obliging the sponsor to make specified dollar payments to qualifying employees at retirement. The pension obligations are effectively the debt obligation of the plan sponsor. Related: Defined contribution plan . Using the Retirement Income Knowledge Bank, financial product manufacturers will be able to access detailed assessments of products currently available, determine how their offerings match up, and uncover opportunities for developing new products. Financial product distributors will be able to use the Knowledge Bank to research and compare charges and benefits of competing products and remain up-to-speed on industry innovations. "As Baby Boomers retire, the financial services industry will be increasingly challenged," explains Gerry Murtagh, Knowledge Bank Manager, Ernst & Young Insurance and Actuarial Advisory Services (IAAS). "We designed the Knowledge Bank to meet a growing and increasingly complex need in the market to get a handle on the Retirement Income product landscape." Through a web-based interface, companies can find objective information on existing retirement income products by company, category and specific product names. In addition, subscribers will receive monthly updates of new products added to the database as well as information about current industry trends. For business inquiries, please contact Gerry Murtagh at (908) 295-9723 or Gerry.Murtagh@ey.com. Ernst & Young Insurance & Actuarial Advisory Services The Insurance and Actuarial Advisory Services (IAAS) practice of Ernst & Young includes 150 professional staff with more than 90 credentialed actuaries throughout the United States and Canada. IAAS delivers actionable business advice to its clients in the life/health and property/casualty insurance industries. It also provides insurance, risk management and claims advisory services to a range of businesses and corporations. IAAS employs financial modeling and other quantitative analysis Quantitative Analysis A security analysis that uses financial information derived from company annual reports and income statements to evaluate an investment decision. Notes: techniques to assist clients in making decisions to help maximize performance and achieve competitive advantage. Ernst & Young Ernst & Young, a global leader in professional services, is committed to restoring the public's trust in professional services firms and in the quality of financial reporting. Its 103,000 people in more than 140 countries around the globe pursue the highest levels of integrity, quality, and professionalism to provide clients with solutions based on financial, transactional, and risk-management knowledge in Ernst & Young's core services of audit, tax, and corporate finance. Ernst & Young practices also provide legal services legal services n. the work performed by a lawyer for a client. in those parts of the world where permitted. Further information about Ernst & Young and its approach to a variety of business issues can be found at www.ey.com/perspectives. Ernst & Young refers to all the members of the global Ernst & Young organization. |
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