A ‘Nesting Doll’ of an In-Plan Annuity

ARS, State Street Global Advisors, Nationwide, Athene, Transamerica and Global Trust Company have brought to market the State Street GTC Retirement Income Builder, a target date fund with a fixed deferred group indexed annuity inside it. It will be offered to 401(k) plan sponsors as a qualified default investment alternative, or QDIA. At age 65, plan participants invested in the fund become eligible for a lifetime income of up to 6% of their final TDF balance.