Your clients used to be able to concentrate on helping their employees save for retirement.  But as 8,000 more Americans turn 60 each day, today’s sponsors also need to help an aging workforce address its guaranteed lifetime income needs.  How can you help pre-retirees with income planning?  You can start with an “in-plan” solution.

Reams of research about the unique perspectives and needs of the baby boom generation suggest that certain key benefits will need to be part of any income solution:

·         Flexibility

·         Control

·         Investment choice

·         Downside protection, and

·         Upside potential

“In-Plan” Solution Offers an Alternative, Effective Approach

Older plan participants desperately need retirement income solutions because they anticipate longer life spans and increased healthcare costs.  While traditional approaches to guaranteed lifetime income streams certainly have their place—and are serving millions of Americans well—there’s also an appetite for an “in-plan” solution that offers all the key benefits, within the context of a defined contribution plan.

Prudential Retirement’s research suggests that individuals were most likely to take action—as in-plan, active participants—if they:

• Clearly understood the benefit of the income arrangement,
• Were confident that the issuing company was responsibly managed and represented a brand they could trust,
• Believed the cost was reasonable,
• Anticipated retirement within five to ten years, and
• Agreed that a drop in the market value of their plan assets represented a real threat.

Contact Prudential Retirement to learn more about how to wrap these benefits inside a seamless experience for your defined contribution clients.  To find out more about this innovative offering contact your Prudential Retirement Regional Director or the Sales Desk at 800-353-2847.

Securities products and services are offered by Prudential Investment Management Services LLC (PIMS), Three Gateway Center, 14th Floor, Newark, NJ 07102-4077. PIMS is a Prudential Financial company. 

Prudential IncomeFlex funds and Prudential Retirement’s Manager of Managers funds  are separate accounts available under group variable annuity contracts issued by Prudential Retirement Insurance and Annuity Company (PRIAC).  Prudential Retirement is a Prudential Financial business. Prudential Retirement and Prudential Financial are registered service marks of The Prudential Insurance Company of America, Newark, NJ, and its affiliates.

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