Retirement income for life—guaranteed
You’ve spent your entire career working and saving for your future. As you watch the market fluctuate, you may be wondering: “Will my savings last as long as my retirement does?”
We get it—and that’s why we developed Income America™ 5ForLife, an investment option in your employer’s retirement plan that provides guaranteed income—for life.
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Income you cannot outlive.
That’s Income America 5ForLife.
Enjoy the upsides.
With Income America 5ForLife, you’ll benefit from:
- Guaranteed income for life: With Income America 5ForLife, you don’t have to worry about outliving your retirement income. Instead, you can plan for retirement with confidence, knowing that even if the market fluctuates, you’ll receive income payments for life!
- Growth potential: You don’t have to choose between growth potential and protected income. Not only do you have the opportunity to grow your savings and take advantage of the market’s upside, your income payments in retirement won’t be impacted by market downturns.
- Protection for you and your spouse: With the joint life option, your spouse will continue to receive payments if they outlive you. And, unlike some other guaranteed income products, any remaining balance will go to your beneficiaries.
- Control and flexibility: We offer you full liquidity should you change your mind—without penalties or surrender charges. You can even roll over your balance to another retirement plan that offers 5ForLife, or to an IRA that offers an income guarantee.
- Simplicity: You pick one and you’re done. It’s as easy as investing in a typical fund, but with the promise of income for life.
Important information: Guarantees are subject to the claims-paying ability of the issuing companies.
The market value of your account is never guaranteed and fluctuates based on investment performance. While you can withdraw the market value of your account at any time without any fees or penalties, doing so will cause you to lose the income guarantee. Your income base is never available for withdrawal, but is only used for calculating your income.
You will be able to elect to receive income any time after age 65. If you elect the joint option, your payout will be lower than 5%, depending on you and your spouse’s ages. If you withdraw more than the guaranteed annual income in any year, your income base and future guaranteed annual income will decrease. However, if your required minimum distribution exceeds your guaranteed income amount, your income base will not be affected and your payments will not be lowered.*
If you are invested in the Income America 5ForLife target date portfolios, when you turn age 65 and at the time you elect to receive income, you must be invested in the 5ForLife In Retirement portfolio; investment exchanges will be automatically implemented from any other 5ForLife target date portfolio to the 5ForLife In Retirement portfolio. If you make investment exchanges out of any 5ForLife portfolio, you may not make an investment exchange back into any 5ForLife portfolio within 90 calendar days.
You may be able to roll over your balance to another retirement plan that offers Income America 5ForLife and retain the income guarantee, or to an IRA or plan that offers an option to retain the income benefit base and payout rate; however, the retirement plan or issuing insurer’s IRA solution may have different investments, fees, and other features.
*Note that the timing of required minimum distributions taken from this investment option could adversely affect both your income base and your guaranteed income amount in certain situations. Please contact your plan representative for more details.
