As a Registered Investment Advisor (RIA), you have options when it comes to selecting the appropriate guaranteed retirement income solution for your clients’ plans. But not all in-plan income options are made equal.

The Income America 5ForLife advantage

Income America^™ 5ForLife has many features that may be missing in other guaranteed income solutions. Many companies claim their income solutions are easy to understand, but in reality, their structures may be complex. Not only is Income America 5ForLife simple to comprehend, but it also has fully transparent fees and is multi-insured for added strength and stability.

Here are five reasons why RIAs recommend Income America 5ForLife:

1. Fiduciary based and SECURE Act compliant
   Great Gray, Trust Company, LLC, the trustee and ERISA 3(38) fiduciary to Income America 5ForLife, uses strict criteria to select financially strong insurers, the glide path manager, and asset class managers. Wilshire, who is selected by Great Gray to be the investment advisory fiduciary under ERISA 3(21) to the funds, is responsible for recommending the glide path manager, guaranteed lifetime withdrawal benefit providers, underlying fund products, and stable value product offerings to the trustee from an investment universe selected by the product consultant for each category. We’ve also taken careful consideration when developing Income America 5ForLife to ensure it’s SECURE Act compliant.
2. Guaranteed income
   A revolutionary retirement income solution, Income America 5ForLife is an innovative, all-in-one retirement investment that provides retirees with 5% income for life—guaranteed.¹ Especially in light of market volatility and inflation, RIAs, employers, and employees are expressing interest in guaranteed retirement income solutions. In fact, a recent survey reveals that 75% of participants would be more likely to leave money in their plan if their employer offered an investment option specifically to help retirees draw income during retirement.
3. Employee-friendly
   As an RIA, you’ve seen how complicated guaranteed retirement income funds can be. Income America 5ForLife is the opposite of that. Designed as a series of employee-friendly target date funds, it’s simple for employees to understand and elect. Or, add the balanced fund option to a managed account solution.
4. Flexible and portable
   If participants change their minds, they can transfer their money to another investment, with no surrender fees or penalties. In addition, they can roll over their Income America 5ForLife balance to another retirement plan that offers Income America 5ForLife and retain the income guarantee. Income America 5ForLife is also non proprietary and platform agnostic so RIAs and plan sponsors can easily transition it to another recordkeeper that offers Income America 5ForLife.
5. Affordable and easy to implement
   Income America 5ForLife is cost effective and held in a collective investment trust. And, we fully disclose every fund fee, guaranteed lifetime withdrawal benefit (GLWB) fee, trustee fee, glidepath manager fee, sub-advisor fee, and product consultant fee. It’s also easy for RIAs and plan sponsors to implement as a stand-alone investment or a qualified default investment alternative (QDIA).

¹ In order to get the income guarantee, participants must stay invested in Income America 5ForLife. If the participant elects the joint option (which will continue to pay their spouse after their death), their payout will be lower than 5%, depending on their age and their spouse’s age. If the participant withdraws more than the guaranteed annual income in any year, their income base and future guaranteed annual income amount will decrease. However, if the participant’s required minimum distribution exceeds the guaranteed income amount, the participant’s income base will not be affected and payments will not be lowered. Guarantees are subject to the claims-paying ability of the issuing companies.