DIETRICH launched DDQ, the industry’s first online annuity quote system to meet the demand from retirement plan sponsors and their advisors for instant individual annuity quotes from top rated (DOL 95‐1 safest available) insurance companies, back in 2004. Today, the DIETRICH DDQ Individual Annuity Quote Platform has thousands of registered users and has proven to be an effective resource tool for providing competitive annuity quotes for individual participants retiring from corporate sponsored defined benefit and defined contribution (401k) retirement plans. To meet the increased demand by plan sponsors interested in pricing the cost to annuitize groups of retiree pension obligations via a retiree (lift out) pension risk transfer (PRT) a new feature has been developed that allows users the added capability of obtaining annuity quotes for groups of retirees. The DIETRICH DDQ/Group Annuity Quote Platform utilizes retirement plan census data that users provide using the DDQ platform specific excel format that users upload via a secure data portal. Data is scanned for completeness and, once downloaded, quotes are provided instantly. Advantages to users are:
- Quick turnaround times. The system is linked directly to insurance company annuity pricing platforms. Once data is downloaded, annuity pricing is provided in minutes therefore there is no need to wait 4-6 weeks for group annuity quotes.
- The ability to parse annuity pricing data by specific population demographics or benefits segments, i.e. age groups, benefit amounts or settlement accounting thresholds.
- Updated prospective annuity pricing instantly available at any time upon request once census data is stored in the DIETRICH DDQ secure data warehouse.
- The security of confidentiality. No client names need be provided to obtain quotes.
The DIETRICH DDQ Group Annuity Quote Platform provides users a simplified streamlined way to obtain group retiree annuity quotes that saves time and costs for plan sponsors, their advisors and insurance companies alike. Fore more information regarding DIETRICH DDQ/Group Annuity Quotes contact DIETRICH at email@example.com.