Income America Recognized as In-Plan Retirement Income Product/Service of the Year at the WealthManagement.com 2024 Industry Awards
Income America has been recognized as In-Plan Retirement Income Product/Service of the Year at the WealthManagement.com 2024 Industry Awards (the "Wealthies").
Income America was honored for its groundbreaking in-plan retirement income solution, Income America™ 5ForLife, a bank collective fund for which Great Gray Trust Company, LLC is the trustee. Income America 5ForLife offers participants a 5% annual lifetime income guarantee starting at age 65, providing protection against market uncertainty during retirement.
"I am deeply honored to accept the Wealthie for In-Plan Retirement Income/Product Service of the Year on behalf of the remarkable consortium of partners behind Income America," said Matthew Wolniewicz, President of Income America, LLC*. "This award reflects our unwavering commitment to providing hardworking Americans with guaranteed income in retirement, allowing them to stop worrying about outliving their savings as they fully embrace their golden years."
Now in its 10th year, the WealthManagement.com Industry Awards is the only awards program to honor outstanding achievements by companies, organizations and individuals that support financial advisors—and their clients. This year, over 1,000 entries were received from more than 400 companies. Income America was selected as the winner by a panel of independent judges made up of industry leaders who evaluated finalist initiatives based on quantitative (e.g., scope, scale, adoption, and feature set) and qualitative (innovation, creativity and new methods of delivery) measures.
"It's gratifying to see Income America receive this recognition," said Rick Luchinsky, senior vice president and head of Personal Financial Solutions & Workplace Retirement for American Century Investments. "We have much to do in our industry to help people live comfortably in retirement, and we believe Income America is an exceptional avenue to help deliver this outcome."
About Income America
Several industry leaders—including American Century Investments, Lincoln Financial Group, Nationwide®, SS&C Technologies, Great Gray Trust Company, LLC, and Wilshire Advisors LLC—came together to create a revolutionary retirement solution: Income America 5ForLife, a series of investments that provide guaranteed lifetime income. Designed to help retirement plan participants save for a more secure future, Income America 5ForLife is an innovative, unbiased, multi-insured, in-plan retirement income solution. With Income America 5ForLife, participants can contribute through convenient payroll deductions while they're working and enjoy protection against market uncertainty during retirement.
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About American Century Investments
Who We Are
American Century Investments is a leading global asset manager focused on delivering investment results and building long-term client relationships while supporting breakthrough medical research.
Quick Facts
Founded in 1958, American Century Investments' 1,400 employees serve financial professionals, institutions, corporations and individual investors from offices in Kansas City, Missouri; New York; Los Angeles; Santa Clara, California; Portland, Oregon; London; Frankfurt, Germany; Hong Kong; and Sydney.
Management
Jonathan S. Thomas is president and chief executive officer, and Victor Zhang serves as chief investment officer.
Giving Back
Delivering investment results to clients enables American Century Investments to distribute over 40% of its dividends to the Stowers Institute for Medical Research, a 500-person, nonprofit basic biomedical research organization. The Institute owns more than 40% of American Century Investments and has received dividend payments of more than $2 billion since 2000.
Income America, LLC is not affiliated with Income America funds, which are a series of bank-maintained collective investment trusts for which Great Gray Trust Company, LLC is the trustee.
The Income America Funds are Great Gray Trust Company, LLC Collective Investment Funds ("Great Gray Funds"), which are bank collective investment funds; they are not mutual funds. Great Gray Trust Company, LLC ("Trustee") serves as the Trustee of the Great Gray Funds and maintains ultimate fiduciary authority over the management of, and investments made in, the Great Gray Funds. Great Gray Funds and their units are exempt from registration under the Investment Company Act of 1940 and the Securities Act of 1933, respectively.
Investments in the Great Gray Funds are not bank deposits or obligations of and are not insured or guaranteed by Great Gray Trust Company, LLC, any bank, the FDIC, the Federal Reserve, or any other governmental agency. The Great Gray Funds are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in the Great Gray Funds.
Participation in Collective Investment Trust Funds is limited primarily to qualified retirement plans and certain state or local government plans and is not available to IRAs, health and welfare plans and, in certain cases, Keogh (H.R. 10) plans. Collective Investment Trust Funds may be suitable investments for plan fiduciaries seeking to construct a well-diversified retirement savings program. Investors should consider the investment objectives, risks, charges and expenses of any pooled investment fund carefully before investing. The Additional Fund Information and Principal Risk Definitions (PRD) contains this and other information about a Collective Investment Trust Fund and is available at www.greatgray.com/principalriskdefinitions or ask for a free copy by contacting Great Gray Trust Company, LLC at (866) 427-6885.
Great Gray and Great Gray Trust Company are service marks used in connection with various fiduciary and non-fiduciary services offered by Great Gray Trust Company, LLC.
The Trustee has appointed American Century Investment Management, Inc. as Glidepath Manager to the Income America Funds to assist it in connection with providing strategic asset allocations for each of the vintages of the Income America Funds. American Century Investments® provides underlying sub-asset class management and target date glide path management (when applicable) as well as marketing support for Income America.
The Trustee has appointed Wilshire Advisors LLC ("Wilshire") as Sub-Advisor to the Income America Funds to assist it in connection with the investment of assets in the Income America Funds. Wilshire serves as the Investment advisor fiduciary under ERISA 3(21) and is responsible for recommending glide path manager, guaranteed lifetime withdrawal benefit providers, underlying fund products and stable value offerings to the trustee from an investment universe selected by the product consultant for each category.
SS&C provides the Retirement Income Clearing and Calculation Platform (RICC), a middleware application designed to facilitate the efficient distribution and servicing of in-plan guaranteed income products across various recordkeepers and participating insurers. The SS&C RICC platform also calculates and maintains the participant guaranteed lifetime withdrawal benefit values for Income America 5ForLife.
This material is not a recommendation to buy, sell, hold or roll over any asset; adopt an investment strategy; retain a specific investment manager; or use a particular account type. It does not take into account the specific investment objectives, tax and financial condition, or particular needs of any specific person. Investors should discuss their specific situation with their financial professional. Diversification does not assure a profit, nor does it protect against loss of principal.
The Income America 5ForLife funds include a group annuity contract, which provides a plan participant with guaranteed annual retirement income that is supported by a contract between the trustee and the following issuing insurance companies:
The Lincoln National Life Insurance Company, Fort Wayne, IN. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so. Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates.
Nationwide Life Insurance Company, Columbus, OH.
Each fund in the series may invest in a fixed annuity contract issued by Nationwide Life Insurance Company and The Lincoln National Life Insurance Company. This fixed annuity contract is separate from the group annuity contracts issued by the same entities which support the guaranteed annual retirement income.
All contractual guarantees, including those for guaranteed income, are funded from the issuing insurance companies' general accounts and are subject to the claims-paying ability of the issuing insurance company. Neither issuing insurance company is a trustee for any assets held in any of the collective investment funds.
The issuing insurance companies and their affiliates, distributors, respective employees, representatives and/or insurance agents do not provide tax, accounting or legal advice. Please consult your own tax or legal advisor for answers to your specific questions. For more information, please contact your employer or your retirement plan.
All entities listed within this document are separate and nonaffiliated companies.
These investment options may not be available in all states.
The third-party marks and logos listed are the intellectual property of each respective entity and its affiliates.
©2024 Income America, LLC