What once was old, is ANNUA again.
The first corporate sponsored retirement plans were designed to help employees save for retirement in turn, creating a stable workforce, providing employee benefits and ensuring a corporation’s success through well-established employees who were financially prepared for retirement. Eventually, a shift began and 401(k) plans became a popular option for employers to offer, offloading the responsibility of retirement planning and saving to the employee through their own contributions to a pension plan. Most private employers currently use 401(k) plans as their exclusive retirement savings vehicle. Unfortunately, market setbacks left retirement savings balances inadequate. In addition, lack of savings and increased longevity has resulted in employees living well beyond their retirement savings.
ANNUA’s partner company, DIETRICH was established in the early 1980s to specialize in utilizing group annuity contracts to fund the termination of the original defined benefit pension plans and guarantee lifetime benefits to plan participants. ANNUA, like DIETRICH, was developed out of a need for retirement security generated by decades of legislation changes and the cultural shift from a secure Employer Sponsored (Defined Benefit) Pension Plan to an unstable Employee Sponsored, market volatile (Defined Contribution) Pension Plan.
ANNUA will support employers and employees working together to “Plan for a sure retirement.” for the next generation for retirement plans and retirees to have “Guaranteed Income, For Life.”