The provider of retirement income solutions wants to address an urgent planning problem for pre- and post-retirees by tasking advisers with a plan for their clients to generate more predictable and sustainable income in retirement with less risk. The firm’s executives say the campaign targets new planning strategies.
Retirement portfolios today demand a smarter balance of growth and safety to achieve a stream of lifetime income, pointed out Michael P. Kiley, chief executive of Security Benefit. “The challenge is finding solutions to that end,” he said.
Security Benefit in July commissioned Milliman Inc., an independent actuarial and consulting firm, to conduct a study on income-product allocation. The firm plans to announce the full results of the research later in the month.
According to Kiley, financial advisers are questioning traditional approaches to retirement planning, and Security Benefit’s goal is to help advisers find innovative ways to meet the challenge. “The Milliman study tells us there are real solutions emerging in the form of improved strategies that promise to generate more income at less cost with less market risk,” Kiley said.
The campaign includes a website, Retirement Income Challenge, built for advisers. The site includes an income calculator and a modeling tool to help optimize retirement income portfolios similar to the Modern Portfolio Theory approach.
Subsequent materials in the campaign will include white papers, research reports and bylined articles on securing income in retirement.
Security Benefit Corporation, a Guggenheim Partners Company, is a provider of savings and income solutions for pre- and post-retirees.