Products February 5, 2010
Great-West Launches Guaranteed Income Investment Options
Great-West Retirement Services has introduced a new set of guaranteed income investment options.
Reported by Rebecca Moore
SecureFoundation can protect participants’ retirement income when the market drops, allow them to benefit when it goes up, and can provide them a retirement income for life, said Charlie Nelson, president of Great-West Retirement Services.
The investment options include a portfolio of lifetime asset allocation funds and a balanced portfolio, according to a press release. Plan sponsors may include one or both of these guaranteed income investment options, and can select one of them as the qualified default investment alternative for their plan.
SecureFoundation has low or no plan-level fees. Participants pay only the fund management fee, and as applicable, they pay the guaranteed benefit fee.
With the addition of SecureFoundation, Great-West said its Reality Investing Lifetime Solutions suite guides participants from accumulation, to preparing for retirement, through retirement.
“Reality Investing Lifetime Solutions uses a consistent approach and methodology for guidance, advice, managed account, lifetime asset allocation, and retirement income products. It enables plan sponsors to rest assured that they’re able to meet the changing needs of their employees with a consistent approach,” said Nelson.
The investment options include a portfolio of lifetime asset allocation funds and a balanced portfolio, according to a press release. Plan sponsors may include one or both of these guaranteed income investment options, and can select one of them as the qualified default investment alternative for their plan.
SecureFoundation has low or no plan-level fees. Participants pay only the fund management fee, and as applicable, they pay the guaranteed benefit fee.
With the addition of SecureFoundation, Great-West said its Reality Investing Lifetime Solutions suite guides participants from accumulation, to preparing for retirement, through retirement.
“Reality Investing Lifetime Solutions uses a consistent approach and methodology for guidance, advice, managed account, lifetime asset allocation, and retirement income products. It enables plan sponsors to rest assured that they’re able to meet the changing needs of their employees with a consistent approach,” said Nelson.