DC Plan Annuity Product Available on KTRADE Recordkeeping Platform

ANNUA, DIETRICH’s defined contribution (DC) retirement income annuity practice, and the KTRADE Alliance have teamed up to offer annuity options for DC plans via ANNUA’s recently released ANNUA Direct Quote (ADQ). 

ADQ is a tool for retirement plan sponsors, participants and advisers to obtain current market pricing for guaranteed lifetime income at retirement. It helps plan fiduciaries engage in an objective, thorough and analytical search to identify potential insurers, considering the financial characteristics, costs and services provided by the potential insurers.

Through ADQ, sponsors, participants and advisers obtain written representations from potential insurers required for safe harbor protection that show the insurer is financially capable of satisfying its obligations and that the relative cost of the annuity is reasonable. ANNUA’s platform also offers plan advisers, administrators and recordkeepers access to highly rated insurance companies providing institutional annuities, market-based income disclosure tools and educational resources for participants.

KTRADE is an open architecture recordkeeping platform operated by an alliance of third-party administration (TPA) member firms. It also supports retirement plan advisers by providing access to a list of investment alternatives with features such as 100% revenue sharing credits, managed accounts and a full suite of online tools.

“We are able to share our expertise with our partners to put the pension back into retirement,” says Geoff Dietrich, executive vice president of DIETRICH. “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.”