In anticipation of their client’s evolving needs, ANNUA and the KTRADE Alliance have teamed up to offer annuity options via ANNUA’s recently released, ANNUA Direct Quote. ADQ is a tool for plan sponsors and their advisors to offer annuities and is the industry’s first, online real time individual annuity quotation platform. It is a tool for plan sponsors, participants and retirement plan advisors to obtain current market pricing for guaranteed lifetime income at retirement.
“We’re excited to announce our partnership with KTRADE, assisting their clients looking to add lifetime income options into their Defined Contribution plans”, says Geoff Dietrich, Executive Vice President of DIETRICH. “We are able to share our expertise with our partners to put the pension back into retirement. ANNUA is pioneering lifetime income features within 401(k)/403(b) plans by helping employees build a guaranteed monthly income for life, while eliminating the long-term liabilities, financial risk or cost associated with traditional pensions.”
ANNUA’s platform assists plan fiduciaries to engage in an objective, thorough, and analytical search to identify potential insurers, considering the financial characteristics, costs and services provided by the potential insurers. It obtains written representations from potential insurers required for Safe Harbor protection and concludes that the insurer is financially capable of satisfying their obligations and that the relative cost of the annuity is reasonable.
ANNUA’s platform also offers plan advisors, administrators and recordkeepers access to highly rated insurance companies providing institutional annuities, market-based income disclosure tools, and educational resources to enrich participant engagements.
KTRADE is an open architecture recordkeeping platform operated by an alliance of third-party administration member firms. With a team of Alliance Members located throughout the United States, KTRADE is designed to support a national reach while providing local, high-touch service. Its services allow employers to provide their employees with the ability to invest in an expertly planned and executed retirement security program.
KTRADE supports retirement plan advisors by providing access to a virtually unlimited list of investment alternatives. With features like 100% revenue sharing credits, managed accounts, and a full suite of online tools, KTRADE provides the opportunity to maximize retirement outcomes.
Learn more about ANNUA Direct Quote Partnership Opportunities:
ANNUA Direct Quote Partnerships
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DIETRICH’s ANNUA and KTRADE Partner to Offer DC Plan Lifetime Income Solution