03.21.24
Empower Announces Suite of Guaranteed Income Solutions for Retirement Plans
by: Noah Zuss
Empower announced a new suite of retirement income products for participants in its defined-contribution plans. Working with leading asset managers and insurance firms, the company unveiled the in-plan and out-of-plan solutions, including managed accounts with a guaranteed lifetime withdrawal benefit, a managed spend-down strategy and proprietary variable annuity, and access to a marketplace for annuities. Empower’s retirement business serves “smaller plans up to the some of the largest plans in the United States, where the demographics of each are different, the needs of those plans are different, certainly preferences are different and so having a one-size-fits-all doesn't make a lot of sense for us,” said Tina Wilson, chief product officer at Empower.
Read the full article on planadviser