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:
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.
express interest in guaranteed lifetime income.
say they 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.
Source: EBRI/Greenwald 2019 Retirement Confidence Survey
Source: American Century 8th Annual Survey of Retirement Plan Participants, 2020
Let's discuss what may work best for your population:
Vote to add an in-plan guarantee product to your plan
Add in-plan guarantee to your Investment Policy Statement (IPS)
Issue a request for proposal (RFP)
Make, document, and communicate your decision
Proceed with your QDIA implementation process
To learn more about Income America 5ForLife, please complete the form below.