Outliving assets in retirement is a major concern for employees. Of equal concern for employers is the fact that employees can’t financially afford to retire at normal retirement age; a major cost to them.
DIETRICH offers innovative solutions for employers and employees by incorporating a lifetime guaranteed income annuity option into the 401(k) plan. This addition ensures employees enjoy financial security throughout retirement. At the same time, employers can enhance their benefits offering to attract and retain top talent. With DIETRICH’s expertise, creating a more stable and reliable retirement plan has never been easier.
For employees who want to purchase an additional life income benefit with a portion of their 401(k) plan accumulated assets, they can opt to do so by purchasing a life income annuity that Dietrich can provide through an institutionally priced group annuity contract.
For employers who wish to allocate a portion of their 401(k) contribution toward a lifetime income benefit to supplement an employee’s social security retirement benefit, DIETRICH can show plan sponsors how to use contributions to incrementally fund a life income over the career life of their employee, allowing the employee to feel confident that they can retire with enough guaranteed income to last their (and their spouses) lifetime.