United Technologies Company last month took the plunge into providing its employees a steady stream of retirement income. The 199,900-employee Hartford, Conn.-based firm added the Lifetime Income Strategy, a customized age-based default investment program designed by AllianceBernstein, into its $14 billion 401(k) plan.

The special sauce in the Lifetime Income Strategy plan is the product's multi-insurance providers including The Lincoln National Life Insurance Company, Nationwide Life Insurance Company and Prudential Retirement Insurance and Annuity Company. AllianceBernstein provides the fiduciary support including asset allocation services, the open architecture platform and the participant service support necessary to manage the Lifetime Income Strategy.

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