AXA Introduces New Unit to Provide Retirement Plan Solutions for Large Companies

AXA Equitable Life Insurance Co. has launched a new distribution channel focused on providing retirement plan strategies and solutions for Fortune 1000 corporations and their employees.

Corporate Markets provides employers with resources for offering education, ongoing support, and guaranteed income solutions to retirement plan participants as transition to the distribution phase at retirement, according to a company announcement. Corporate Markets is run by Executive Vice President Bill McDermott, who joined AXA Equitable in September after spending 11 years with Fidelity Investments.

“Individuals are now preparing for retirement at an earlier age. With defined benefit plans becoming rare, the uncertainty about the future of Social Security, and increasing life expectancies accompanied by rising medical costs, people at all stages of the retirement planning process are concerned about their long term financial security,” said McDermott, in the announcement. “Individuals are looking for guarantees – at each stage of the process. They also want education, service, and ongoing support, and they want it through their employers – that’s what our Corporate Markets business provides.”

Guarantees are based on the claims-paying ability of AXA Equitable Life Insurance Company, NY, NY, and securities are offered through AXA Advisors, LLC.

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