Annuities
By: Craig McCann and Kaye A. Thomas (Dec 2005)
Regulatory scrutiny of variable annuity sales practices and private litigation have focused on the investment risk of subaccounts, on annuity 'switching' and on the purchase of annuities within IRAs. In this paper, we demonstrate that in most situations, investors being sold annuities will pay more taxes and have less wealth in retirement as a result of the tax treatment of investments within tax-deferred annuities.
Optimal Exercise of Employee Stock Options and Securities Arbitrations
By: Craig McCann and Kaye A. Thomas (Jun 2005)
In this paper, Craig McCann and Kaye Thomas extend previous analyses of employee stock options and evaluate advice to hold unexercised options.
