Equitable Launches Annuity Option for Educators

Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. has announced a new series to its EQUI-VEST line of deferred variable annuity products, EQUI-VEST Series 202. This version is designed to help educators supplement their retirement savings by providing additional choices, flexibility and a level of certainty.

EQUI-VEST Series 202 is available to employees enrolled in a 403(b) plan at public schools across the United States. One notable feature, the Structured Investment Option, allows participants to capitalize on potential market gains, up to a cap, while maintaining a level of protection against market losses. Specifically, it provides buffered indexed options that include downside protection up to -30%, longer segment periods and the opportunity to lock in gains. It also provides growth potential that mirrors the index selected up to a cap.  

“Nearly six in ten Americans view the current economic conditions in the U.S. as highly volatile, according to a recent Equitable survey. This has workers increasingly looking for solutions to help grow and protect their retirement savings,” said Jim Kais, head of Group Retirement for Equitable. “Our new EQUI-VEST series builds on our expertise as the leading provider of registered index-linked annuities, adding an investment option that helps address these concerns. We hope this makes planning for the future a bit more reassuring for educators, so they can stay focused on teaching their students.”

EQUI-VEST Series 202 also addresses longevity risk and decumulation concerns. At retirement, plan participants have the option of turning their 403(b) account values into guaranteed income for the rest of their lives.

“While pensions are the primary retirement savings vehicle for many public-school teachers, we often find this source of income is not enough on its own to fully replace their income in retirement,” explained Kais. “Our new EQUI-VEST series provides educators with additional options and flexibility to help meet their individual needs, as many depend on their 403(b) plans to supplement their savings for retirement.”