Fidelity Platform Ties 401(k)s to Annuities

Fidelity Investments has introduced an open architecture annuity platform that an executive said should help the Boston investment company retain assets after 401(k) customers retire.

The platform, Fidelity Life Income Solutions, lets people who are leaving a 401(k) plan buy fixed or variable annuities in order to establish an income stream for retirement. Fidelity will offer both proprietary and nonproprietary annuities to customers interested in rolling their 401(k) assets into a product that guarantees retirement income.