Expensive, poor performing variable annuity insurance products dominate this niche that many mutual fund companies seemly ignore.

FORBES: Problems Areas for Pensions: 457/403(b); Custodial Services; Minority/Emerging Managers (May 2, 2006 )

There are some money management firms, particularly variable annuity insurance companies that have pursued this marketing course to a level of absurdity.

FORBES: Everyone Wants Kool Aid: Pruning the Money Management Tree (October 29, 2008)

Insurance companies with big variable annuity books may drop their annual guaranteed rates, but their bond portfolios will appreciate.

FORBES: Market Trends: How to surf the yield curve

More employers (11%) already offer annuity or insurance products within their 401(k) plans such as variable annuity features or guaranteed minimum withdrawal benefits, and of those employers not offering these features, 3% are very likely and 13% are somewhat likely to add them this year, according to the Aon Hewitt report.

FORBES: How To Make Your 401(k) Last Forever: The Pension Rollover

Insurance companies with big variable-annuity books may drop their annual guaranteed rates, but their bond portfolios will appreciate.

FORBES: How to surf the yield curve

Variable annuity products are so laden with fees that insurance companies can easily afford to pay kick- backs to unions and other non-profits for steering participants.

FORBES: An Extreme Makeover Due For Defined Contribution Plans: 401(k), 403(b) and 457s All Under Attack (June 1, 2007)

The subpoena was served by Secretary of the Commonwealth William Galvin and seeks information about whether the leading Wall Street firm received secret payments from insurance companies to sell their variable annuity products.

FORBES: Morgan Stanley Subpoenaed Over Annuity Sales