Posted by Jeremy Burgum on 08 December 2000 at 09:26:30:
On the news today - Equitable Life has been unable to find a buyer and so closes to new business.
The radio report I heard, was suggesting that future investment returns will be lower for existing policy holders as Equitable will have to move investments from equities to bonds, gilts and fixed interest securities.
I wonder what IBM will do for members of the AVC plans.
Does IBM have any obligation to AVC members as IBM chose Equitable Life as the AVC investment provider?
Jeremy Burgum