A new set of guaranteed income investment options is being launched for the defined contribution plan market.
Called SecureFoundation, the options are offered by Great-West Retirement Services, a retirement plan record keeper. The firm is unit of Great-West Life & Annuity Insurance Company, Denver.
The options include a portfolio of lifetime asset allocation funds and a balanced portfolio. Defined benefit plan sponsors may include one or both of options, and they may determine if it is appropriate to select one of them as the qualified default investment alternative for their plan, the company says.
The options have low or no plan-level fees, and participants pay only the fund management fee, and as applicable, the guaranteed benefit fee, the firm adds,.
