Loan & Distribution Specialist AimPoint Pension
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Compass
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AimPoint Pension
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Bates & Company, Inc.
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Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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High Interest Rates On Annuities Often Quietly Convert To Low Interest Rates
G. Wade Caldwell, via 403bwise [Opinion] Aug. 12, 2002
Excerpt: Sometime in the early 1990's, some insurance executive reasoned that if they advertised a high interest rate to attract the money, and kept advertising an attractive rate to keep you investing, it was okay for the insurance company to quietly start paying less interest on 'old money', i.e. money you deposited in your annuity or life insurance policy more than twelve months ago.
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