Products February 15, 2012

DST Launches Administrative Solution for Retirement Income Products

February 15, 2012 (PLANSPONSOR.com) – DST Systems, Inc. announced a new administrative solution that makes retirement income products more widely available to sponsors of defined contribution retirement plans and their participants. 
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The new solution, Retirement Income Clearing Calculator (RICC), is a middleware solution designed specifically to support guaranteed retirement income products through traditional recordkeeping platforms.

“These new guaranteed income products are essentially the convergence of investment and insurance benefits into a single product,” says Larry Kiefer, systems officer for DST Systems. “Current recordkeeping solutions simply aren’t suited to handle the attributes of these new offerings. RICC is specifically designed to meet these new demands.”

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RICC’s design contemplates a broad array of income solutions, enabling the platform to incorporate any number of functionalities to deliver an income solution to the market. The middleware easily takes all the rules around a guaranteed product, but can just as easily involve mutual funds.  

More information is at http://www.dstsystems.com.  

Products February 15, 2012

T. Rowe Price Launches Ready-2-Retire Tool

February 15, 2012 (PLANSPONSOR.com) – T. Rowe Price launched Ready-2-Retire, a web-based tool that allows investors to envision how they might live in retirement. 
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Ready-2-Retire asks investors questions in a simple manner that helps them establish goals, set priorities and understand risks. No personal financial account information is necessary to use the tool. When investors complete its questions, Ready-2-Retire produces a personal retirement profile summarizing their desired retirement lifestyle plan, their level of preparedness to minimize exposure to various risks they may face in retirement and a list of next steps they may wish to take in the planning process.

Investors of any age can use Ready-2-Retire in their future planning, but the primary audience is likely to be those nearing retirement age. With Ready-2-Retire, pre-retirees can think through the activities they want to participate in, their preferred living arrangements, and possible location changes, while also considering a variety of risks retirees may face—including longevity, inflation, investment and healthcare risks—and how they plan to address them. 

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Ready-2-Retire was developed by LIMRA and licensed to T. Rowe Price.

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