Retirement Income
Prudential Financial announced Jan. 25 that it is collaborating with Fidelity Investments to address growing demand for a workplace retirement plan option that will convert participants’ retirement savings into a protected stream of income.
Named Prudential SimplyIncome, the new option provides a single-premium immediate annuity (SPIA) within employer-based retirement plans administered by Fidelity Investments. The collaboration will expand access to retirement security for more than 100,000 plan participants, according to the firm’s announcement .Prudential is one of four insurers on Fidelity’s Guaranteed Income Direct platform (more below) offering an embedded distribution option for defined contribution (DC) plans like 401(k)s, […]
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