Danielle Gladstone, Head of Participant Engagement, shares best practices for rolling out an effective retirement income participant engagement program.
For institutional / professional investors use only.
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State Street Global Advisors’ Target Date Fund are designed for investors expecting to retire around the year indicated in each fund’s name. When choosing a Fund, investors should consider whether they anticipate retiring significantly earlier or later than age 65 even if such investors retire on or near a fund’s approximate target date. There may be other considerations relevant to fund selection and investors should select the fund that best meets their individual circumstances and investment goals. The funds’ asset allocation strategy becomes increasingly conservative as it approaches the target date and beyond. The investment risks of each Fund change over time as its asset allocation changes.
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Ages and expected dates of retirement are approximate and may not accurately reflect the age or retirement date of each participant at each stage of the product. Participants are responsible for selecting their own target retirement date.
A Qualified Longevity Annuity Contract (“QLAC”) is a deferred income annuity designed for qualified defined contribution retirement plan participants. The QLAC’s stream of annuity payments provides participants with Deferred Guaranteed Income. Payment of the Deferred Guaranteed Income is guaranteed by and is subject to the claims-paying ability of the issuing insurance company. Neither the IncomeWise Funds nor the QLAC are insured by the FDIC or by another governmental agency; they are not obligations or deposits of, or guaranteed by State Street or its affiliates. QLAC purchases are subject to regulatory limitations.
Payment of Deferred Guaranteed Income related to the QLAC is guaranteed by and is subject to the claims-paying ability of the issuing insurance company. IncomeWise deferred income annuities are solely the obligation of the issuing insurance company. Deferred Guaranteed Income is a payment stream received by purchasers of a type of deferred income annuity, called a qualified longevity annuity contract (“QLAC”), which is an insurance product that guarantees money at a future date, typically for the rest of the participant’s life. Participants who fully withdraw from the IncomeWise Funds prior to the annuity purchase will not be eligible for the annuity income benefits. QLAC purchases are subject to regulatory limitations. The QLAC purchase is subject to market availability and SSGA cannot guarantee the availability of the QLAC in any given year. The annuity is not provided by or guaranteed by SSGA or any affiliate of SSGA. After a 90 day “free-look” period, purchases of the QLAC cannot be reversed.
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Exp. Date: 6/30/2024