About a week ago, Prudential released preliminary survey results indicating that when shopping for retirement plans, consumers between the ages of 18 and 36 were more interested than those over age 45 in guaranteed income features. The company is leveraging these results with additional features, including security, to certain plans offered by Prudential Retirement.
The carrier is expanding the investment management alternatives for its guaranteed lifetime income solution, Prudential IncomeFlex Target, to include the expertise of two date fund managers. This allows defined contribution plans to combine Prudential IncomeFlex Target’s guaranteed minimum withdrawal benefits (GMWB), with target date fund offerings from T. Rowe Price and Vanguard.
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