There has been a growing sense of urgency among defined contribution stakeholders (recordkeepers, plan sponsors, consultants and asset managers) that their retirement plan participants need a path to achieve a more secure financial future. In the wake of the SECURE Act, Annexus Retirement Solutions brings a new perspective to close this gap within the industry.
For decades, providers have attempted to help participants generate retirement income by adding existing insurance products to their defined contribution platform as options alongside their asset management offerings. These options have been complicated and difficult for participants to understand and have lacked full transparency. Their efforts have fallen short of meeting the needs of participants and the fiduciary responsibilities of plan sponsors, leading to very low adoption rates and little impact on solving the income crisis.
The challenge is multifaceted and requires a comprehensive solution. By proactively working with the various stakeholders throughout the design process, Annexus Retirement Solutions developed a completely new and innovative offering that makes it easy for a participant to prepare for a secure financial future. Its revolutionary new design overcomes the barriers that have limited the appeal of lifetime income solutions within retirement plans, including prohibitive costs, lack of true liquidity over the lifetime of the product and the absence of portability if a participant separates service.
By eliminating these roadblocks, Annexus Retirement Solutions has developed a solution that delivers a seamless, intuitive and automated experience for both participants and plan sponsors.
"Annexus Retirement Solutions is driven by the philosophy of putting the participant at the center of everything we do. Our product design aims to deliver maximum retirement income through a simple, turnkey solution, without compromising flexibility or control," said
Annexus Retirement Solutions was built on Annexus' long history of producing industry-leading retirement solutions. The company has further added to the depth of its team by hiring retirement industry experts, including
For more information on Annexus Retirement Solutions, please visit: www.annexus.com/ars
About Annexus Retirement Solutions
Annexus Retirement Solutions designs products that help working Americans secure their financial futures leading up to, and all the way through, retirement. These solutions are financially engineered to provide defined contribution plan participants a seamless approach to optimize savings, help maximize a source of lifetime income, and protect against the biggest challenges in retirement – outliving their income. Annexus Retirement Solutions is backed by Annexus, the leading independent developer of insured wealth management solutions. In 2019,
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