Isn't it time to take the guesswork out of investing for retirement?
We think so. That’s why several industry leaders—historically longtime competitors—came together to create a revolutionary solution: Income America™ 5ForLife, a retirement plan investment that provides guaranteed income for life. With Income America 5ForLife, a lifetime income guarantee of 5% per year, beginning at age 65, is built in—offering protection against market uncertainty during retirement.
WHAT’S NEW
Contact us to learn more.
Introducing an all-in-one retirement investment that provides retirees with 5% income for life—guaranteed
BENEFITS FOR PARTICIPANTS
Protected
You will receive payments of 5% of your income base per year for the rest of your life, even if the market dips or you outlive your balance
Convenient
Get started with a rollover from a previous plan, a transfer from other investments in your current plan, or regular payroll contributions
Flexible
You can transfer your balance or withdraw your money, with no surrender fees or penalties
Portable
You can take your balance to another qualified plan that offers 5ForLife and retain your income guarantee, or to an IRA that offers an income guarantee
BENEFITS FOR PLAN SPONSORS
All in one
Combines an investment portfolio with guaranteed lifetime withdrawal benefit (GLWB)
SECURE Act compliant
Helps fiduciaries meet ERISA 404 requirements
QDIA friendly
Can be used as a standalone QDIA or in combination with another QDIA
Platform agnostic
Allows for easy transition to another recordkeeper
Important information: Guarantees are subject to the claims-paying ability of the issuing companies.
The market value of your account is never guaranteed and fluctuates based on investment performance. While you can withdraw the market value of your account at any time without any fees or penalties, doing so will cause you to lose the income guarantee. Your income base is never available for withdrawal, but is only used for calculating your income.
You will be able to elect to receive income any time after age 65. If you elect the joint option, your payout will be lower than 5%, depending on you and your spouse’s ages. If you withdraw more than the guaranteed annual income in any year, your income base and future guaranteed annual income will decrease. However, if your required minimum distribution exceeds your guaranteed income amount, your income base will not be affected and your payments will not be lowered.*
If you are invested in the Income America 5ForLife target date portfolios, when you turn age 65 and at the time you elect to receive income, you must be invested in the 5ForLife In Retirement portfolio; investment exchanges will be automatically implemented from any other 5ForLife target date portfolio to the 5ForLife In Retirement portfolio. If you make investment exchanges out of any 5ForLife portfolio, you may not make an investment exchange back into any 5ForLife portfolio within 90 calendar days.
You may be able to roll over your balance to another retirement plan that offers Income America 5ForLife and retain the income guarantee, or to an IRA or plan that offers an option to retain the income benefit base and payout rate; however, the retirement plan or issuing insurer’s IRA solution may have different investments, fees, and other features.
*Note that the timing of required minimum distributions taken from this investment option could adversely affect both your income base and your guaranteed income amount in certain situations. Please contact your plan representative for more details.
