Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
WINDSOR, Conn., April 6 -- LIMRA issued the following news release:
DST Retirement Solutions(TM), a leading provider of flexible retirement plan outsourcing solutions to financial services organizations, and LIMRA, the largest financial services research organization, today announced have created a strategic alliance to offer retirement income solutions to LIMRA's member firms.
LIMRA, which provides research and consulting services to life insurance and financial services companies, pursues select alliances that support its membership by delivering and developing products and services that help solve marketing and distribution issues.
The demographic shift of America's workforce and the resulting income needs require new critical thinking by the industry. LIMRA provides a forum for developing fresh approaches to industry challenges and for identifying best practices in the delivery of customer solutions.
"Given that only a limited number of firms are chosen to be a strategic partner with LIMRA, this selection is a real endorsement of our technology and services, " said Ian Sheridan, Division Vice President for DST Retirement Solutions. "We are honored to be working with LIMRA's members toward moving the income solutions marketplace forward. DST is focused on removing the technological barriers currently effecting plan adoption. LIMRA provides the best opportunity for this to happen."
"As our member firms develop the next generation of product solutions for the retirement market, they will need to rely on trusted allies to provide the right mix of technology and consultative services,," said James Kerley, president of LIMRA Services, Inc. "We believe that DST Retirement Solutions will be just that kind of ally to LIMRA members worldwide."
DST Retirement Solutions, a wholly-owned subsidiary of DST Systems, Inc., offers one of the industry's broadest arrays of high value retirement plan servicing options for financial organizations distributing and serving their customers' retirement needs. The company recently introduced its Retirement Income Clearing Calculator platform, or RICC(TM), the industry's first middleware solution designed specifically to support guaranteed retirement income products through traditional recordkeeping platforms.
TNS 61NF 120407-JF78-3833661 StaffFurigay