Thrivent Retirement Income Optimizer (TRIO) pairs technology, including an analysis of 1,000 market scenarios, with one-on-one consultation to create a customized framework for each retiree, Thrivent said in a press release. Instead of setting up a program that transfers assets to an annuity or other investments right at retirement, the service is ongoing throughout retirement, signaling retirees at least annually when it might be time to reallocate assets, hold invested assets instead of spending, move some assets into an inflation-adjusted stream of income, or take no action.
TRIO’s three guiding principles are:
- Diversify Assets for Growth and Income – To meet both long- and short-term needs, assets are allocated into growth and income buckets, with guidelines of how to replenish the income bucket from the growth bucket each year.
- Guarantee Inflation-adjusted Income – Sustaining income is improved by allocating a portion of the portfolio to guaranteed lifetime income. As part of its annual review, TRIO will alert the retiree when the market and conditions are right to convert a portion, typically 10% or 15%, of their portfolio to a life contingent annuity.
- Manage Withdrawals to Make Money Last – To preserve assets for the long term, withdrawal guidelines are set to optimize asset balances. TRIO is responsive to varying market conditions and will advise the retiree on when to hold investments instead of making withdrawals. Likewise, it will enable additional spending flexibility when conditions are favorable.
Participants can choose to apply some or all of the guiding principles at any time when reviewing their situation with a Thrivent Financial representative, the announcement said. TRIO works with all of one’s existing assets and income sources, whether with Thrivent Financial or other firms.
To learn more, visit www.thrivent.com/trio or call 1-800-THRIVENT (847-4836) to locate a Thrivent Financial representative.