AmericanTCS, Allianz Life Partner to Offer In-Plan Guaranteed Income Option

AmericanTCS-Allianz Life partnership

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A guaranteed lifetime income annuity specifically built to be part of a retirement plan within a managed account solution is now available to defined contribution retirement plans on the American Trust Platform as the result of a new partnership with Allianz Life, announced today.

Two members of the AmericanTCS family of companies, American Trust Retirement, a leading, full-service provider of retirement solutions to small- and mid-sized plan sponsors, and American Trust Custody, a leading custodian and trading platform for retirement plans, have partnered with Minneapolis-based Allianz Life to add the Allianz Lifetime Income+ Annuity with the Lifetime Income Benefit to DC plans on the American Trust Platform.

The Allianz Lifetime Income+ Annuity is designed to be a straightforward, flexible, and portable fixed index annuity that can help mitigate the risks to a retirement strategy like longevity, market volatility and inflation.

“We’re very excited to bring this solution to market in a seamless way to help improve outcomes for retirement plan participants. Historically, guaranteed income options have lacked accessibility, portability, and flexibility, or they were simply too complicated for participants to navigate,” said Brian Lenz, Chief Sales Officer at AmericanTCS. “By leveraging Allianz Lifetime Income+ and making guaranteed income for life an optional feature within our managed account infrastructure, we have addressed those drawbacks at a very compelling price point.”

Among the annuity’s features:

• Uniquely designed with flexibility, participants can choose when income starts, pause income payments if needed, and even withdraw accumulation value with no surrender charges if their situation changes. (However, Market Value Adjustments and taxes may apply)

• All benefits, guarantees, and pricing carry with the contract if a participant leaves the plan or the plan removes the option from the lineup.

• Fees are guaranteed not to increase, even if the participant leaves the plan and rolls the annuity into an IRA.

• Fits well within a managed account that is tailored to participants’ unique circumstances and may be eligible as a Qualified Default Investment Alternative (QDIA).

“We are pleased to be able to offer the Allianz Lifetime Income+ to many more people through the American Trust Platform,” said Matt Gray, head of employer markets, Allianz Life. “An annuity can help manage risks to retirement like inflation, longevity, and market volatility. We designed this annuity to work for real people with flexibility, accessibility, and other personalized characteristics.”

American Trust Retirement and Allianz Life hold deep experience in the retirement space. AmericanTCS supports more than 300,0000 retirement plans. Allianz Life has been helping Americans prepare for their financial futures since 1896.

SEE ALSO:

• 401(k) Specialist Pod(k)ast: Lifetime Income Solutions in 401(k)s

• Allianz Life Makes Latest Guaranteed Income Solution Available to DC Plans

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