DST Systems has designed a new program, Retirement Income Clearing Calculator (RICC), which will widely distribute retirement income products to sponsors and participants of defined contribution plans.

This middleware application is designed specifically for supporting guaranteed retirement income products through traditional recordkeeping platforms. Guaranteed income products often pose distribution challenges because they combine characteristics of both investment and insurance products. Previously, insurance carriers could only offer guaranteed income products in 401(k) plans except through their own policy administration systems.

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