Allianz Lifetime Income+ Annuity will be available for recordkeepers
MINNEAPOLIS – Sept. 9, 2021 – Allianz Life Insurance Company of North America (Allianz Life) announced today that it has partnered with LDI-MAP (d.b.a. iJoin) and IPX Retirement to be the first company to provide a guaranteed income option on the iJoin platform. Recordkeepers and advisors using iJoin will be able to offer the Allianz Lifetime Income+ Annuity with the Lifetime Income Benefit as a protected accumulation and decumulation option in 401(k)s and other defined contribution plans.
iJoin offers recordkeepers an integrated experience to support the enrollment, education, financial planning and advice needs of the plans and participants they serve. The retirement planning advice is personalized for each participant based on income, savings, outside assets, location, age and many other factors. This partnership with Allianz Life will give iJoin the capability to incorporate an innovative guaranteed lifetime income solution into participants’ accounts through their retirement plan.
Working Together To Solve The Retirement Income Challenge
“The addition of Allianz Lifetime Income+ to the iJoin platform is a big step forward toward seamlessly integrating guaranteed lifetime income into defined contribution plans and retirement income planning,” said Matt Gray, Head of Employer Markets, Allianz Life. “There are many risks in retirement and allowing plan participants to easily and efficiently mitigate those risks is important in addressing a critical financial planning need.”
“As an industry, we’ve known for a long time that accumulation strategies alone won’t solve the retirement income challenge,” added Steve McCoy, CEO, iJoin. “The SECURE Act’s regulatory clarity now enables technology and product innovations by iJoin, IPX and Allianz Life to deliver on this promise.”
As part of the Allianz Life – iJoin partnership, IPX Retirement’s technology seamlessly connects recordkeepers, and in turn plan participants, to Allianz Life via the iJoin platform. This capability also enables greater portability across platforms.
“At IPX Retirement, we are passionate about providing better options for investors,” said James Olson, managing director, IPX Retirement. “We are delighted to partner with Allianz Life and iJoin to develop an evolved solution for providers to offer participants a guaranteed income option inside of their retirement plan.”
Allianz Life Income+
Allianz Lifetime Income+ is a fixed index annuity that offers innovative design features including growth potential, protection from market loss and guaranteed lifetime income through the Lifetime Income Benefit, which has the potential to increase annually for life to help address the effects of inflation.
About Allianz Life Insurance Company of North America
Allianz Life Insurance Company of North America, one of the FORTUNE 100 Best Companies to Work For® and one of the Ethisphere World’s Most Ethical Companies®, has been keeping its promises since 1896 by helping Americans achieve their retirement income and protection goals with a variety of annuity and life insurance products. In 2020, Allianz Life provided additional value to its policyholders via distributions of more than $10.1 billion. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with approximately 150,000 employees in more than 70 countries. Allianz Life is a proud sponsor of Allianz Field® in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.
About LDI-MAP, LLC (dba iJoin)
The iJoin team is committed to personalizing retirement success™ and making it easy for millions of savers to get on a path to better retirement outcomes. As a financial technology partner to the retirement plan industry, iJoin’s goal-based retirement plan experience helps people immediately understand their retirement funding need and encourages action to get on track. iJoin supports financial advisors and recordkeepers with actionable data and tools to more effectively engage both employers and their employees. LDI-MAP (d.b.a. iJoin) is a registered investment advisor with the State of Arizona – 14646 N. Kierland Boulevard, Suite 125 Scottsdale, AZ 85254. Learn more at ijoinsuccess.com.
About IPX Retirement
IPX Retirement, formerly FPS Group, is dedicated to enhancing investor outcomes by delivering innovative retirement plan solutions for providers. Using evolved financial technology applications, IPX Retirement connects investors, plan sponsors, and financial service providers on one platform, resulting in more participant investment options available across multiple plan types. IPX Retirement’s Open Architecture Plus investment platform empowers financial service providers to tailor investment programs that include in-plan guaranteed income, managed accounts, model portfolios, ETFs and mutual funds. IPX Retirement, with its affiliate IPX Trust, is a leading provider of trust, custody, IRA, and recordkeeping services to the retirement plan industry. Learn more at ipxretirement.com.