Transamerica, ADP Each Add In-Retirement Plan Annuity Options

November 14, 2023 by Alex Ortolani

Recordkeepers Transamerica Corp. and ADP Inc. both announced separate retirement income options with annuities that will now be available to plan participants.

On Thursday, Transamerica announced it is offering the State Street GTC Retirement Income Builder series to its recordkeeping platform. The target-date-fund series has an annuity embedded in its glide path as a separate asset class, allowing for liquidity and portability to other plans, according to the announcement.

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Originally Posted at PLANADVISER on November 10, 2023 by Alex Ortolani.