Why Income America 5ForLife for your participants?
Created by several industry leaders to help solve the guaranteed retirement income problem, Income America™ 5ForLife is an innovative, unbiased, multi-insured, in-plan retirement income solution that is:
Fiduciary-based and SECURE Act compliant
Attractively priced with guaranteed retirement income
Easy to implement
Flexible, offering portability
A participant may be able to roll over his or her 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. If a participant’s required minimum distribution exceeds the guaranteed income amount, the participant’s income base will not be affected and payments will not be lowered.
Solution detailsFrom portability to liquidity to a step-up feature, learn how Income America was thoughtfully designed to meet the needs of plan sponsors and employees alike.
Read the overview
Industry insightsExamine why the time for adopting guaranteed income solutions is now—and how to overcome objections to adoption.
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Contact us to learn more.
Participants are interested in guaranteed income products
are interested in a guaranteed income feature.
say they would be more likely to leave money in their plan if a retirement income product were offered.
Source: American Century 10th Annual Survey of Retirement Plan Participants, 2023
Excellence across many dimensions
Easy‐to‐implement QDIA options
Let’s discuss what may work best for your population:
Pair your existing QDIA with Income America 5ForLife
Consider using your existing QDIA for younger participants and choose a default age to move participants to Income America 5ForLife.
Fully convert your QDIA to Income America 5ForLife
Think about moving all your defaulted participants to Income America 5ForLife, regardless of age.
STEP 1
Define goals
Vote to add an in-plan guarantee product to your plan
STEP 2
Update documents
Add in-plan guarantee to your Investment Policy Statement (IPS)
STEP 3
Research options
Issue a request for proposal (RFP)
STEP 4
Make decision
Make, document, and communicate your decision
STEP 5
Implement
Proceed with your QDIA implementation process
