Providing Insured Lifetime Income Products to 401(k)/403(b) Plan Sponsors
At a time when pensions are dissappearing and many employee retirement account balances are inadequate and incapable of meeting future retirement needs, DIETRICH announces the launch of ANNUA, a defined contribution retirement income annuity practice. ANNUA challenges the status quo of traditional retirement plans by introducing lifetime income products into historically “accumulation oriented” 401(k)/403(b) plans and focuses on decumulation outcomes in retirement.
“Outliving their assets is of major concern for many employees. ANNUA helps address this concern with innovative solutions utilizing group annuity products with lifetime income guarantees and educating employees about the importance of saving for retirement”, says Kurt Dietrich, President of DIETRICH.
“ANNUA’s introduction to the retirement plan industry could not come at a better time. With the anticipated passage of the SECURE (Setting Every Community Up for Retirement Enhancement) Act and its provisions around retirement insured lifetime income offerings in defined contribution plans, we predict that more plan sponsors will embrace lifetime income vehicles that can provide increased guaranteed retirement income for their employees”
Backed by DIETRICH’s almost 40 years of defined benefit plan experience in Pension Risk Transfers utilizing group annuity products, ANNUA’s goal is to be recognized as the preeminent thought leader for insured lifetime income options for the defined contribution retirement plan market. We view success as any engagement that helps an individual retiree or workforce improve their financial security in retirement.