Designed for brighter futures
Want to help your participants plan for their future with confidence? Help them build a stream of retirement income they can count on by adding Income America™ 5ForLife to your plan.
Easy for you to implement and easy for participants to select, Income America 5ForLife is guaranteed retirement income made easy.
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Why Income America 5ForLife?
Income America 5ForLife guarantees payments of 5% of participants’ income base per year for the rest of their life. It’s that simple—and powerful.
Even if you change recordkeepers, you can continue offering Income America 5ForLife if it’s available on the new platform—preserving participants’ guaranteed lifetime income benefit.
Fiduciary-based, SECURE Act compliant, and multi-insured, Income America 5ForLife offers protection for plan sponsors and participants alike.
What is it?
Income America 5ForLife is a collective investment trust (CIT) trusteed by Great Gray Trust Company, LLC. It consists of a series of funds that provide access to guaranteed lifetime income through a group fixed contingent deferred annuity contract providing a Guaranteed Lifetime Withdrawal Benefit (GLWB).
The series consists of:
- Target date funds that follow a glide path
- A balanced fund with a 50/50 equity/fixed income portfolio
You can select which funds to offer in the retirement plan’s investment lineup—and Income America 5ForLife can also be used as a qualified default investment alternative (QDIA).
From portability to liquidity to a step-up feature, learn how Income America was thoughtfully designed to meet the needs of plan sponsors and employees alike.
How does it work?
It’s as easy as investing in a typical retirement plan fund, but with the guarantee of income for life:
- Every dollar participants invest in Income America 5ForLife will be added to their income base, which is protected even if there’s a market downturn.
- Once a year on their birthday, their income base can re-set, stepping up to capture any gains.
- At age 65, they can start withdrawing 5% of their income base every year for life (a joint life option is also available). If they want to retire later, they can continue making contributions, which can potentially increase their income base and payments. And beneficiaries receive the full remaining market value.
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There’s never been a better time to adopt a guaranteed income solution
The industry has embraced automatic enrollment, automatic escalation, and pre-diversified investments. The next evolution in retirement plan innovation is guaranteed retirement income. With the passage of the SECURE Act, more plan sponsors are seeking income solutions—and employees are interested in them, too.
retirement age employees say guaranteed income would help them feel more confident in being retirement ready
Nationwide Protected Retirement Survey, August 2024
*American Century Investment Plan Sponsor Survey, July 2024
**American Century Investment Participant Survey, July 2024
Take a closer look
Download the white paper
Examine why the time for adopting guaranteed income solutions is now—and how to overcome objections to adoption.
View the participant brochure
Get a better look at how Income America 5ForLife works.