Allianz Life’s Joe Hendrickson and AmericanTCS’ Brian Lenz Discuss Market Momentum
In-plan guaranteed lifetime income solutions, such as annuities, have received plenty of attention in the wake of the SECURE Act of 2019 and 2022’s SECURE Act 2.0 legislation, which made it significantly easier to add these types of solutions into 401(k) plans.
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Here to talk about how these solutions are being adapted for defined contribution plans – and how they are being presented in the real world to 401(k) participants – we have Joe Hendrickson, Vice President of Strategy & Relationship Management at Minneapolis-based Allianz Life Insurance Company of North America and Brian Lenz, Chief Sales Officer at AmericanTCS, an early adopter bringing lifetime income options to plans sponsors and participants.
The discussion includes how the market is changing, how the solutions are being implemented at the plan-level, the challenges being faced in bringing these solutions to participants, and how to help them understand the products and the 5-year outlook for lifetime income solution adoption in the employer-sponsored retirement plan market.
Fixed indexed annuities are designed to meet long-term needs for retirement income. They provide guarantees against the loss of principal and credited interest, tax deferred accumulation potential and the reassurance of a death benefit for beneficiaries.
Products are issued by Allianz Life Insurance Company of North America, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297. (C64712-MVA)
Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America.
● Not FDIC insured ● May lose value ● No bank or credit union guarantee ● Not a deposit ● Not insured by any federal government agency or NCUA/NCUSIF
Product and feature availability may vary by state and retirement plan.
This notice does not apply in the state of New York.
Allianz Life Insurance Company of New York and AmericanTCS are not affiliated companies.
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Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
Love to see the innovation at work between Allianz and AmericanTCS.