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"Town planning rules create layers of expense, so everything has to be well planned and thought out," Mudgway said.
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The SEC in September expressed concern that funds-of-hedge-funds vendors fail to explain the impact of multiple layers of expenses or properly gauge suitability; expose investors to unacceptable risk; wrongly value assets; and hide conflicts of interest.
That's because annuities have expenses, layers of expenses.
Although many believe that, once it is proved safe, its introduction will be inevitable, they fret that it will introduce yet another layer of expense to cash-strapped transfusion services.
In addition, a number of states impose an annuity premium tax, which adds another layer of expenses to the cost of owning a variable annuity.
"This is a fund of funds, which layers expenses upon expenses.
These California-style plans invest directly, avoiding middlemen and their layers of mutual fund and annuity expenses that have so enriched the banks and insurance companies.
Lots of audits and inspections of all this add another layer of frustration and expense.
The generalized RS described in Section 4.3 is able to provide more room for rate and QoS enhancements at the expense of more layers of SIC at receivers.
Forming a city would heap municipal rules and expenses atop existing layers of county, state and federal bureaucracy.
It was a lot of expense.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com