Five reasons registered investment advisors may recommend Income America 5ForLife
As a Registered Investment Advisor (RIA), you have options when it comes to selecting the appropriate guaranteed retirement income solution for your clients' plans. But not all in-plan income options are made equal.
The Income America 5ForLife advantage
Income America™ 5ForLife has many features that may be missing in other
guaranteed income solutions. Many companies claim their income solutions
are easy to understand, but in reality, their structures may be complex. Not
only is Income America 5ForLife simple to comprehend, but it also has fully
transparent fees and is multi-insured for added strength and stability.
Here are five reasons why RIAs recommend Income America 5ForLife:
- Fiduciary based and SECURE Act compliant
Wilmington Trust, our ERISA 3(38) fiduciary, uses strict criteria to select
the strongest insurers, glide path manager, and asset class managers.
Wilshire, our investment advisory fiduciary under ERISA 3(21), is
responsible for recommending the glide path manager, guaranteed
lifetime withdrawal benefit providers, underlying fund products, and
stable value product offerings to the trustee from an investment
universe selected by the product consultant for each category. We've
also taken careful consideration when developing Income America
5ForLife to ensure it's SECURE Act compliant.
A revolutionary retirement income solution, Income America 5ForLife
is an innovative, all-in-one retirement investment that provides retirees
with 5% income for life—guaranteed.1 Especially in light of market volatility and inflation, RIAs, employers,
and employees are expressing interest in guaranteed retirement income solutions. In fact, a recent
survey reveals that 80% of participants would be more likely to leave
money in their plan if their employer offered an investment option
specifically to help retirees draw income during retirement.
As an RIA, you've seen how complicated guaranteed retirement income
funds can be. Income America 5ForLife is the opposite of that. Designed
as a series of employee-friendly target date funds, it's simple for
employees to understand and elect.
- Flexible and portable
If participants change their minds, they can transfer their money to
another investment, with no surrender fees or penalties. In addition,
they can roll over their Income America 5ForLife balance to another
retirement plan that offers Income America 5ForLife and retain the
income guarantee. Income America 5ForLife is also non proprietary and
platform agnostic so RIAs and plan sponsors can easily transition it to
another recordkeeper that offers Income America 5ForLife.
- Affordable and easy to implement
Income America 5ForLife is cost effective and held in a collective
investment trust. And, we fully disclose every fund fee, guaranteed
lifetime withdrawal benefit (GLWB) fee, trustee fee, glidepath manager
fee, sub-advisor fee, and product consultant fee. It's also easy for RIAs
and plan sponsors to implement as a stand-alone investment or a qualified default investment alternative (QDIA).
1 In order to get the income guarantee, Participants must stay invested in Income America 5ForLife. If the participant elects the joint option (which will continue to pay their spouse after their death), their payout will be lower than 5%, depending on their age and their spouse's age. If the participant withdraws more than the guaranteed annual income in any year, their income base and future guaranteed annual income amount will decrease. Guarantees are subject to the claims-paying ability of the issuing companies.