Agilis Unveils PensionBuilder™: A Comprehensive Solution for Lifetime Retirement Income
Agilis Partners has launched PensionBuilder™, a patent-pending solution providing lifetime retirement income for employees and retirees. The system enables eligible participants to convert defined contribution plan savings into lifetime income through competitive annuity purchases from leading insurers at group pricing rates. Alight Solutions (NYSE: ALIT) will provide comprehensive support services including call center assistance and website management.
PensionBuilder allows participants to select their desired conversion amount and annuity payment form during a time- window. The solution operates outside the plan via Individual Retirement Accounts (IRAs), avoiding in-plan annuity option restrictions. The service comes at no cost to companies, with Agilis acting as a fiduciary in insurer selection.
Agilis Partners ha lanciato PensionBuilder™, una soluzione in attesa di brevetto che offre un reddito pensionistico a vita per dipendenti e pensionati. Il sistema permette ai partecipanti idonei di convertire i risparmi del piano di contribuzione definita in un reddito a vita attraverso acquisti di rendite competitivi da assicuratori leader a tariffe di gruppo. Alight Solutions (NYSE: ALIT) fornirà servizi di supporto completi, inclusi assistenza call center e gestione del sito web.
PensionBuilder consente ai partecipanti di selezionare l'importo di conversione desiderato e la forma di pagamento della rendita durante una finestra temporale. La soluzione opera al di fuori del piano tramite Conti Pensionistici Individuali (IRA), evitando restrizioni sulle opzioni di rendita all'interno del piano. Il servizio non comporta costi per le aziende, con Agilis che agisce come fiduciario nella selezione degli assicuratori.
Agilis Partners ha lanzado PensionBuilder™, una solución en trámite de patente que proporciona ingresos por jubilación de por vida para empleados y jubilados. El sistema permite a los participantes elegibles convertir sus ahorros de planes de contribución definida en ingresos de por vida mediante la compra de anualidades competitivas de las principales aseguradoras a tarifas de grupo. Alight Solutions (NYSE: ALIT) proporcionará servicios de apoyo integral, incluyendo asistencia en el centro de llamadas y gestión del sitio web.
PensionBuilder permite a los participantes seleccionar el monto de conversión deseado y la forma de pago de la anualidad durante una ventana de tiempo. La solución opera fuera del plan a través de Cuentas Individuales de Jubilación (IRA), evitando restricciones en la opción de anualidades dentro del plan. El servicio no tiene costo para las empresas, con Agilis actuando como fiduciario en la selección de aseguradoras.
Agilis Partners는 직원과 퇴직자를 위한 평생 퇴직 소득을 제공하는 특허 출원 중인 솔루션 PensionBuilder™를 출시했습니다. 이 시스템은 자격이 있는 참가자가 그룹 가격으로 선도적인 보험사로부터 경쟁력 있는 연금 구매를 통해 확정 기여 플랜 저축을 평생 소득으로 전환할 수 있게 합니다. Alight Solutions (NYSE: ALIT)는 콜센터 지원 및 웹사이트 관리를 포함한 포괄적인 지원 서비스를 제공합니다.
PensionBuilder는 참가자가 원하는 전환 금액과 연금 지급 형태를 시간 범위 내에서 선택할 수 있게 합니다. 이 솔루션은 개별 퇴직 계좌(IRA)를 통해 플랜 외부에서 운영되며, 플랜 내 연금 옵션 제한을 피합니다. 이 서비스는 기업에 비용이 발생하지 않으며, Agilis가 보험사 선정에서 수탁자로 역할을 합니다.
Agilis Partners a lancé PensionBuilder™, une solution en attente de brevet offrant un revenu de retraite à vie pour les employés et les retraités. Le système permet aux participants éligibles de convertir leurs économies de plans de cotisation définie en revenu à vie grâce à des achats de rentes compétitifs auprès des assureurs leaders à des tarifs de groupe. Alight Solutions (NYSE: ALIT) fournira des services de soutien complets, y compris une assistance par centre d'appel et la gestion du site web.
PensionBuilder permet aux participants de sélectionner le montant de conversion souhaité et le mode de paiement de la rente pendant une fenêtre temporelle. La solution opère en dehors du plan via des Comptes Retraite Individuels (IRA), évitant ainsi les restrictions des options de rente du plan. Le service est sans frais pour les entreprises, Agilis agissant comme fiduciaire dans la sélection des assureurs.
Agilis Partners hat PensionBuilder™ ins Leben gerufen, eine patentierte Lösung, die Mitarbeitern und Rentnern ein lebenslanges Einkommensangebot bietet. Das System ermöglicht es berechtigten Teilnehmern, die Ersparnisse aus einem Beitragsplan in lebenslange Einkünfte umzuwandeln, indem sie wettbewerbsfähige Renten von führenden Versicherern zu Gruppentarif kaufen. Alight Solutions (NYSE: ALIT) wird umfassende Unterstützungsdienste anbieten, einschließlich Callcenter-Hilfe und Website-Management.
PensionBuilder ermöglicht es den Teilnehmern, den gewünschten Umwandlungsbetrag und die Form der Rentenzahlung innerhalb eines Zeitrahmens auszuwählen. Die Lösung funktioniert außerhalb des Plans über individuelle Rentenfonds (IRA) und umgeht damit die Einschränkungen der Rentenoptionen innerhalb des Plans. Der Service ist für Unternehmen kostenlos, wobei Agilis als Treuhänder in der Auswahl der Versicherer fungiert.
- Solution provides guaranteed lifetime income stream for participants
- Group pricing rates offer competitive value for participants
- No implementation cost for companies
- Operates outside plan restrictions via IRAs
- Partnership with NYSE-listed Alight Solutions for operational support
- Time- window for participation restricts flexibility
- Requires conversion of existing retirement savings
Insights
This product launch represents a significant development in the retirement solutions market. PensionBuilder creates a new revenue stream opportunity for Alight Solutions through operational support and administration services. The partnership with Agilis expands ALIT's product portfolio in the growing retirement solutions segment, particularly important as traditional pension plans continue declining.
The solution addresses a critical market gap by offering group pricing for annuities, which typically provides better rates than individual purchases. The IRA-based structure cleverly sidesteps regulatory complications of in-plan annuities while potentially generating recurring revenue from administration fees. For ALIT shareholders, this represents a strategic expansion into the
Empowering participants to buy lifetime income at group pricing to create a "personal pension"
In collaboration with Alight Solutions (NYSE: ALIT), a leading cloud-based human capital technology and services provider, Agilis PensionBuilder offers comprehensive support services, includes call center assistance, website management, and operational support.
"With the decline in traditional pensions and growth in DC plans, we are approaching a new paradigm in the US retirement system: a significant portion of monthly expenses must be covered by DC account balances rather than a monthly pension check" said Tom Cassara, CEO of Agilis. "Our mission at Agilis is to bring innovative and sustainable retirement solutions to the market. PensionBuilder allows plan sponsors to provide their employees with the peace of mind that comes from knowing they will have a guaranteed income stream throughout their retirement."
By leveraging their expertise in the pension risk transfer market, Agilis enables eligible employees and retirees to convert their defined contribution plan savings into lifetime income. Participants are given a time-limited window to select the amount they wish to convert and the form of annuity payment that suits their needs. Agilis then secures competitive bids from leading insurance companies, converting a portion of the participants' retirement savings into annuities based on prevailing market rates and group pricing. This process ensures participants receive the best value and a secure income stream for life. Additionally, because the annuity purchase is made outside the plan via Individual Retirement Accounts (IRAs), PensionBuilder is not subject to the restrictions that apply to in-plan annuity options.
"PensionBuilder combines the best aspects of a traditional pension--a predictable monthly payment for life--without the cost volatility that led many employers to abandon DB plans," said Michael Clark, Chief Commercial Officer at Agilis. "Our solution is easy to implement, simple to communicate, and flexible in payout options--all at no cost to the company and with Agilis acting as a fiduciary in selecting the insurer. As retirement planning becomes more complex, having a solution like PensionBuilder is essential to ensuring financial security."
"PensionBuilder is a modern solution that merges the benefits of lifetime income with flexibility for both employers and employees," added Greg Long, Head of Public Policy at Alight. "Whether for current employees or retirees, PensionBuilder gives plan sponsors the tools to enhance retirement outcomes in an era of uncertainty."
About Agilis
Agilis provides actuarial and investment consulting using a strategic approach to create innovative solutions for our clients, leading them on the journey through implementation. Focused on solutions entailing outsourced CIO (OCIO), actuarial and investment consulting, derivatives management, specialty investment management strategies, pension administration services, annuity buyouts and plan terminations, and pooled employer 401(k) consulting, we find dynamic solutions that create financial momentum for our clients and create breakthrough strategies to seize growth opportunities. For more information, please visit https://agilis.llc/.
About Alight Solutions
Alight is a leading cloud-based human capital technology and services provider for many of the world's largest organizations and over 35 million people and dependents. Through the administration of employee benefits, Alight helps clients gain a benefits advantage while building a healthy and financially secure workforce by unifying the benefits ecosystem across health, wealth, wellbeing, absence management and navigation. Our Alight Worklife® platform empowers employers to gain a deeper understanding of their workforce and engage them throughout life's most important moments with personalized benefits management and data-driven insights, leading to increased employee wellbeing, engagement and productivity. Learn more about the Alight Benefits Advantage™ at alight.com.
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SOURCE Agilis
FAQ
What is Agilis PensionBuilder and how does it work with Alight Solutions (ALIT)?
What are the main benefits of PensionBuilder for retirement plan participants?
How much does PensionBuilder cost for companies to implement?
When can participants convert their savings using PensionBuilder?
