WEST DES MOINES, Iowa--(BUSINESS WIRE)--

Sammons Retirement Solutions, Inc.SM, which specializes in designing straightforward, innovative retirement solutions focused on IRA rollovers and other retirement assets, announced that William Lowe, President of Sammons Retirement Solutions, Inc. has been appointed to the Insured Retirement Institute (IRI)s Board of Directors. This appointment marks Lowes second term on the board, as he previously served while CEO of U.S. Annuities at ING U.S.

Lowe, an insurance industry veteran, brings over 25 years of leadership experience in the life insurance and annuity business to the board. Lowe is a product innovator and has spent decades developing products and go-to-market strategies for 401(k)s, variable and fixed annuities, life insurance, managed accounts and mutual fund accounts. He joins the company of 19 notable financial industry experts on the board.

We are delighted to welcome Bill back as a member of the IRI Board of Directors, IRI President and CEO Cathy Weatherford said. During the next year, in an effort to serve a diverse and growing membership, we will strive to provide new tools and resources to our members and expand our influence to achieve advocacy goals on behalf of the insured retirement industry. As we work to tackle these objectives, strategic direction from industry leaders such as Bill will be vital to our success.

It is an honor to be named to IRIs Board of Directors, said William Lowe, President of Sammons Retirement Solutions, Inc. IRIs mission to serve as a respected resource for financial advisers and to further enhance consumer confidence in the value of retirement strategies is also a primary goal at Sammons Retirement Solutions, Inc., and I look forward to helping advance initiatives in this area as a member of the Board of Directors.

Additionally, Lowe recently contributed to the dialogue at the IRI 2012 Annual Meeting moderating a panel entitled, Navigating Environmental Factors: Products and Strategies, that discussed the effects that current financial environmental factors can have on the industry and how companies can position their product portfolio moving forward.

About Sammons Retirement Solutions, Inc.SM(SRSI SM)

A member of Sammons Financial Group, Sammons Retirement Solutions, Inc.SM specializes in designing straightforward, innovative retirement solutions that address the increasingly complex needs of todays investors. The company complements Sammons Financial Groups existing business by expanding the product line with mutual fund IRA platforms and variable annuities available for sale through independent broker-dealers and financial professionals. Please visit http://www.srslivewell.com for additional information.

About the Insured Retirement Institute

The Insured Retirement Institute (IRI) is a not-for-profit organization that for twenty years has been a mainstay of service, commitment and collaboration within the insured retirement industry.Today, IRI is considered to be the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. IRI proudly leads a national consumer education coalition of nearly twenty organizations and is the only association that represents the entire supply chain of insured retirement strategies: Our members are the major insurers, asset managers, broker dealers, and more than 150,000 financial professionals. IRI exists to vigorously promote consumer confidence in the value and viability of insured retirement strategies, bringing together the interests of the industry, financial advisors and consumers under one umbrella. IRIs mission is to: encourage industry adherence to highest ethical principles; promote better understanding of the insured retirement value proposition; develop and promote best practice standards to improve value delivery; and advocate before public policy makers on critical issues affecting insured retirement strategies and the consumers that rely on their guarantees. Visit http://www.IRIonline.org today to experience the vast resources of the Insured Retirement Institute for yourself.

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Sammons Retirement Solutions, Inc. President William Lowe Named to Insured Retirement Institute Board of Directors

As the clock ticks and retirement looms, millions of Americans are worried. Thanks to a combination of overspending, undersaving and damage caused by the recent financial crisis, too few have saved too little for their golden years. The crisis has also caused retirement planning to be less of a priority for most citizens who are trying to make ends meet.

Alfonso Canella says the resulting retirement crisis should be obvious to everyone. The senior lecturer at the Brandeis International Business School in Waltham, Mass., says most workers will build their retirement on the principal of their savings, not on investment returns. Retirement planning should not be pushed to the bottom of your to-do list. His message is that people must start saving immediately and must squirrel away more than they think they will need.

As he says, "It's that simple."

The recent financial crisis has had a major impact on all aspects of the retirement system -- defined contribution plans, such as 401(k) plans, as well as defined benefit plans, or pensions. What is most problematic from your point of view?

The largest problem is the woeful undersaving in the private and public sectors. If you have a defined contribution plan, or DC, which is the plan where you put away pretax dollars into, say, a 401(k) plan. These plans, which are most prevalent in the private sector, allow a worker to contribute up to $22,500 per year pretax. (Editor's note: The limits are $17,000 for workers up to age 50 and $22,500 for workers 50 and older.)

Despite this significant tax advantage, most people don't maximize their contributions or, for that matter, even contribute. According to Fidelity Investments, its average 401(k) plan balance as of June 2012 was $72,800. If you use a rule of thumb that you must start with about $100,000 to get $5,000 per year in sustainable income during retirement, these savings are not enough. While many have additional pension income coming to them, be it from Social Security, individual retirement accounts, or some other plan, the numbers underscore what we all suspect: Americans are not saving as much as they should, especially for retirement.

The situation is somewhat similar for public-sector workers. These workers usually have a defined benefit plan, or DB, which pays benefits based on salary and length of service. In many cases -- too many, actually -- these workers face some underfunded pension plans. According to Boston College's Public Plans Database, the average funded ratio across all public plans in the U.S. in 2010 was about 77%. This ratio, which summarizes how much has been put away as a percent of projected payouts, summarizes the shortfall.

How can individual investors get ahead? Should they change their asset allocation strategy? How should they allocate their assets among stocks and bonds?

As I said previously, it is clear that workers must start saving as much as possible, especially taking advantage of tax-driven plans such as 401(k)s, IRAs and Roth IRAs. Let's face it: In these volatile markets, you will retire mostly on the principal of your savings and not because you made a killing in your investments.

These investments should be diversified across asset categories -- equities, bonds, foreign investments and real estate (this being mostly one's home). Within these asset categories, there are different risk levels. Some equities, usually in new industries or in young companies, have more volatile returns than equities in more traditional industries or well-established companies.

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The Key to Retirement Success is Simple

Workplace retirement plans for pro athletes

You might not think pro athletes earning millions would have to worry about the risk of outliving their retirement savings. But when you consider their retirement could conceivably stretch 50 years or more, that risk isn't so far-fetched.

Even with the most popular major sports leagues offering such benefits as pensions and 401(k) plans with employer matches, an athlete's relatively short career could make it hard to save adequately using those plans alone.

"They're not going to be able to put away in qualified retirement plans enough money to live on," says Andre Mirkine, president of the Sports Financial Advisors Association. (Qualified plans refer to those with tax advantages.)

"Then it's incumbent upon the advisers who advise them to try to convince them to save," he adds.

Sometimes, former athletes run out of retirement savings chasing after wild investment deals, says Pete D'Arruda, a Cary, N.C., financial planner who frequently advises athletes.

"Many athletes take a lot more risk than they should after their playing careers," D'Arruda says.

Players in these seven sports organizations, at least, have a formal employer-provided benefit plan to get them started. But data from players unions and collective bargaining agreements show that, when it comes to retirement security, the playing field is decidedly uneven.

Baseball was the first U.S. pro sport to have a pension plan, starting in 1947. Today, players become eligible for the minimum pension after just 43 days of service time at the major league level.

MLB pensions are reputed to be among the most generous in sports. Players accrue full pension benefits when they achieve 10 years of service time, making them eligible for $200,000 a year for life (the maximum allowed by law in 2012) at the age of 62. The pension is joint-survivor, meaning surviving spouses are entitled to some pension benefits. In addition, MLB members with four or more years of major league service time are eligible to continue their health care coverage at a cost of at least 60 percent of their chosen plan.

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Retirement benefits of professional athletes

Workplace retirement plans for pro athletes

You might not think pro athletes earning millions would have to worry about the risk of outliving their retirement savings. But when you consider their retirement could conceivably stretch 50 years or more, that risk isn't so far-fetched.

Even with the most popular major sports leagues offering such benefits as pensions and 401(k) plans with employer matches, an athlete's relatively short career could make it hard to save adequately using those plans alone.

"They're not going to be able to put away in qualified retirement plans enough money to live on," says Andre Mirkine, president of the Sports Financial Advisors Association. (Qualified plans refer to those with tax advantages.)

"Then it's incumbent upon the advisers who advise them to try to convince them to save," he adds.

Sometimes, former athletes run out of retirement savings chasing after wild investment deals, says Pete D'Arruda, a Cary, N.C., financial planner who frequently advises athletes.

"Many athletes take a lot more risk than they should after their playing careers," D'Arruda says.

Players in these seven sports organizations, at least, have a formal employer-provided benefit plan to get them started. But data from players unions and collective bargaining agreements show that, when it comes to retirement security, the playing field is decidedly uneven.

Baseball was the first U.S. pro sport to have a pension plan, starting in 1947. Today, players become eligible for the minimum pension after just 43 days of service time at the major league level.

MLB pensions are reputed to be among the most generous in sports. Players accrue full pension benefits when they achieve 10 years of service time, making them eligible for $200,000 a year for life (the maximum allowed by law in 2012) at the age of 62. The pension is joint-survivor, meaning surviving spouses are entitled to some pension benefits. In addition, MLB members with four or more years of major league service time are eligible to continue their health care coverage at a cost of at least 60 percent of their chosen plan.

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Go long: Retirement plans for pro athletes

Defined Benefit Retirement Plans Play Strong Role in Employment Decisions

TORONTO , Sept. 25, 2012 /CNW/ - Compensation preferences among Canadian workers reveal that a secure pension plan is an increasingly important component of an attractive pay package. According to a survey by global professional services company Towers Watson (NYSE, NASDAQ: TW), one-third of Canadian employees would be willing to sacrifice a portion of their compensation in return for enhanced retirement security, while one in four would agree to forgo a bonus in exchange for additional retirement benefits.

"As financial insecurity becomes more widespread, Canadian workers are increasingly interested in a secure rewards package with retirement benefits they can count on" said Ian Markham , Retirement Innovation Leader for Towers Watson. "While Canadians have traditionally looked to employer-sponsored retirement plans as one part of their financial future, the fact that so many workers are willing to trade pay increases or bonuses for enhanced retirement security points to the significant unease that many employees hold towards financial planning for their retirement years."

"The survey results clearly reflect concern among Canadian workers about whether they will outlive their retirement savings" said John McIntosh, Plan Design Issue Leader at Towers Watson. "If this concern translates to widespread delays in retirement, Canadian employers will be faced with many challenges from the shifting workplace demographic. An older workforce could affect everything from health and productivity to succession planning and the expectations for training and development of the next generation required for future growth."

Pursuit of Retirement Security Affects Employment Decision For sponsors of Defined Benefit (DB) plans (plans which pay a regular monthly benefit), the news is more positive. The Towers Watson survey found that 50% of respondents with a DB plan identified their retirement program as a key reason for joining their current employer, compared to 30% of respondents with a Defined Contribution (DC) plan or Group RRSP, where the payout is dependent on the investment fortunes of the plan member.

DB plans appear to play an even more significant role in retention. Depending on age, between 62% and 71% of Canadian DB plan participants cite their retirement program as a compelling reason to remain with their current employer, compared to between 30% and 50% of those with a DC plan. Younger DB plan participants under 40 years of age were twice as likely to stay with their current employer, compared to those with a DC plan.

The survey also revealed that a change from a DB plan to a DC plan has a strong effect on employee commitment and loyalty. While 75% of respondents whose DB plan had been changed in the last three years, but remained DB, say that they would like to continue working for their employer until they retire, that number decreases to 53% for respondents whose employers have changed to a DC plan.

"In both good and bad economic times, building and keeping a talented workforce remains a critical business need. The survey findings reinforce the idea that organizations sponsoring DB plans can achieve a more stable workforce than those offering a DC plan," said Markham. "Understanding worker preferences toward their reward programs creates an opportunity for employers to highlight the value of their retirement plans to current and prospective employees a potential advantage for any business that places a priority on retaining talent and organizational experience."

About the Survey

The 2011-2012 Towers Watson Retirement Attitudes Survey includes responses from 1,577 full-time Canadian employees at private-sector organizations with 1,000 or more employees. For more information, visit http://www.towerswatson.com/canada-english/research/7717.

Link:
Employer-Sponsored Retirement Programs Take on Heightened Importance for Canadian Workers, Towers Watson Survey Finds

LOS ANGELES--(BUSINESS WIRE)--

Transamerica Retirement Services announced today that it has received 38 Best in Class ratings by retirement plan sponsors in Chatham Partners second quarter post-conversion customer satisfaction survey. The survey measures the overall quality and management of Transamericas plan installation process according to the first-hand experiences of retirement plan sponsors.

Transamerica is focused on helping people retire with confidence, and Chatham Partners survey of plan sponsors helps us fine-tune the services we provide. With the survey, we continuously monitor key drivers of satisfaction, which help us deliver a best in class experience during the first stages with new clients, said Stig Nybo, president of Transamerica Retirement Services. We are pleased that our newest clients continue to give Transamerica high praise for exceeding their expectations.

The Chatham Partners post-conversion survey is integral to Transamericas efforts to consistently monitor its plan installations as part of its process for continuous advancement. The survey respondents manage the retirement plans of small- and mid-sized U.S. businesses.

Transamerica received Best in Class ratings from retirement plan sponsors in the following areas:

Overall Impressions of Transamerica

Overall Impressions of the Conversion Experience

Conversion Project Manager

Management of the Conversion

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Transamerica Retirement Services Receives 38 “Best in Class” Ratings in Chatham Partners’ Post-Conversion Customer ...

LONDON -- The last five years have been tough for those in retirement. Portfolio valuations have been hammered and annuity rates have plunged. There's no sign of things improving anytime soon, either, as the eurozone and the U.K. economy look set to muddle through at best for some years to come.

A great way of protecting yourself from the downturn, however, is by building your retirement fund with shares of large, well-run companies that should grow their earnings steadily over the coming decades. Over time, such investments ought to result in rising dividends and inflation-beating capital growth.

In this series, I'm tracking down the U.K. large caps that have the potential to beat the FTSE 100 over the long term and support a lower-risk income-generating retirement fund (you can see the companies I've covered so far on this page).

Today, I'm going to take a look at British Sky Broadcasting Group (LSE: BSY.L) , the satellite broadcaster with more than 10 million subscribers in the U.K.

Getting the picture

To start with, let's take a look at how BSkyB has performed against the FTSE 100 over the last 10 years:

Total Return

2007

2008

2009

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Is BSkyB the Ultimate Retirement Share?

LONDON, Sept 24 (Reuters) - England manager Roy Hodgson has reluctantly accepted John Terry's retirement from internationals but said he was disappointed in the defender's decision.

Terry, who is due before a Football Association tribunal on Monday facing a charge of racially abusing Queens Park Rangers defender Anton Ferdinand, announced on Sunday he was quitting international soccer.

The former England captain, capped 78 times in an international career stretching back to 2003, said the impending case against him had made his position in the national team untenable as he was cleared in the criminal trial over the affair.

"I'd like to thank John Terry for his commitment to the England team since I became manager," Hodgson said in an FA statement.

"I am of course disappointed to lose a player of John's international experience and exceptional ability.

"I have enjoyed a good relationship with John during my time as England manager and I reluctantly accept his decision.

"I can also confirm that he had the courtesy to call me prior to announcing his retirement from the England team. I'd like to wish John well for the future with Chelsea."

If found guilty by the FA of abusing Ferdinand, Terry could face a lengthy ban similar to the eight-game suspension served by Liverpool's Luis Suarez last season for racially abusing Manchester United's Patrice Evra. (Writing by Toby Davis; editing by Mark Meadows)

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Soccer-Hodgson disappointed with Terry retirement decision

MONTREAL, QUEBEC--(Marketwire - Sept. 24, 2012) - Richmont Mines Inc. (RIC.TO)(NYSE Amex:RIC)(NYSE MKT:RIC), ("Richmont" or the "Corporation") is pleased to announce the early retirement, without penalty, of the CAN$10 million debenture held by Mr. Bob Buchan and two members of his immediate family.The retirement is effective immediately.

Mr. Paul Carmel, President and CEO of Richmont Mines commented: "I am very pleased to say that with the immediate retirement of this debenture, Richmont will have practically no long-term debt. This fact, along with the Corporation's CAN$36 million of cash and tight capital structure of only 33.6 million shares outstanding, provide Richmont with a very solid foundation upon which to grow to its targeted goal of becoming an intermediate gold producer."

As a result of the retirement of the debenture, Mr. Buchan will be leaving Richmont's Board of Directors, effective immediately. In addition, Mr. Sidney Horn will be stepping down as a member of the Corporation's Board, but will remain in his role as Corporate Secretary. These changes reflect Richmont's planto streamline and reduce the size of its Board of Directors.

Mr. Carmel continued: "I would like to thank Mr. Buchan and Mr. Horn for their contributions to Richmont. The Corporation's management team is focused on delivering on our growth strategy and continuing to lay the foundation for increased shareholder value in the future while maintaining our strong financial position and conservative share count."

About Richmont Mines Inc.

Richmont Mines has produced over 1,200,000ounces of gold from its operations in Quebec, Ontario and Newfoundland since beginning production in1991. The Corporation currently produces gold from its Island Gold and Beaufor mines, and has recently brought the Francoeur Mine into commercial production. With extensive experience in gold exploration, development and mining, the Corporation is well positioned to cost-effectively build its Canadian reserve base through a combination of organic growth, strategic acquisitions and partnerships. Richmont routinely posts news and other important information on its website (www.richmont-mines.com).

Forward-Looking Statements

This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they were made.

The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in Richmont Mines' Annual Information Form, Annual Reports and periodic reports.

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Richmont Mines Announces the Immediate Retirement of CAN$10 Million Debenture

Published: Sunday, September 23, 2012, 12:01 a.m.

In 1991, just one in 10 workers told the Employee Benefit Research Institute that they planned to wait to retire until they were older than 65. By 2007, three in 10 said that.

This year? More than four in 10.

Boomers cruising toward a traditional retirement suffered a financial comeuppance in the prolonged economic slump that began in late 2007. The downturn sapped jobs, stock and housing values, and interest on savings.

Many were also caught in the shift from defined-benefit pension plans to 401(k) plans that required workers to contribute toward their own retirement savings. Some didn't, a choice that will leave them short financially.

Small wonder that, according to the Pew Research Center, boomers are the gloomiest of all age groups about the health and future of their finances. Boomers were more likely than other age groups to tell Pew researchers that they lost money on investments since the recession hit. Nearly six in 10 said their household finances worsened.

Finally, employment-based health insurance for many retirees has been withering away, which is causing older workers to cling to paychecks.

Overall, the stage is set for a new normal: Working in retirement.

The number of older workers has grown more rapidly than any other age group in the past few years. This year, 18.6 percent of those 65 and older were participating in the labor force, compared with 13 percent in 2002.

At the same time, older workers represent a disproportionately large share -- 40 percent -- of people who have been trying to get back into the workforce for at least a year.

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Retirement for baby boomers is a moving target