Agilis Launches Pension Builder Solution

Agilis Partners LLC, an investment, actuarial and risk management group, unveiled its Agilis PensionBuilder, a patent pending solution designed to provide lifetime retirement income for employees and retirees.

In collaboration with Alight Solutions, a cloud-based human capital technology and services provider, Agilis PensionBuilder offers comprehensive support services, includes call center assistance, website management, and operational support.

“With the decline in traditional pensions and growth in DC plans, we are approaching a new paradigm in the US retirement system: a significant portion of monthly expenses must be covered by DC account balances rather than a monthly pension check” said Tom Cassara, CEO of Agilis. “Our mission at Agilis is to bring innovative and sustainable retirement solutions to the market. PensionBuilder allows plan sponsors to provide their employees with the peace of mind that comes from knowing they will have a guaranteed income stream throughout their retirement.”

By leveraging their expertise in the pension risk transfer market, Agilis aims to enable employees and retirees to convert their defined contribution (DC) plan savings into lifetime income. Participants are given a time-limited window to select the amount they wish to convert and the form of annuity payment that suits their needs.

Agilis then secures bids from insurance companies, converting a portion of the participants’ retirement savings into annuities based on market rates and group pricing.

“PensionBuilder combines the best aspects of a traditional pension–a predictable monthly payment for life–without the cost volatility that led many employers to abandon DB plans,” said Michael Clark, chief commercial officer at Agilis. “Our solution is easy to implement, simple to communicate, and flexible in payout options—all at no cost to the company and with Agilis acting as a fiduciary in selecting the insurer. As retirement planning becomes more complex, having a solution like PensionBuilder is essential to ensuring financial security.”

“PensionBuilder is a modern solution that merges the benefits of lifetime income with flexibility for both employers and employees,” added Greg Long, head of Public Policy at Alight. “Whether for current employees or retirees, PensionBuilder gives plan sponsors the tools to enhance retirement outcomes in an era of uncertainty.”