Boston, MA – LifeYield, a fintech firm specializing in tax-efficient, multi-account portfolio management, has recently announced the launch of its Annuity Income Layer for annuity manufacturers and distributors. This enhancement to LifeYield’s Social Security+ benefits optimization tool aims to simplify the process for financial advisers to illustrate a manufacturer’s annuity products with minimal disruption and data collection.
According to Mark Hoffman, chairman, CEO, and co-founder of LifeYield, tens of thousands of financial professionals use LifeYield technology to demonstrate the value of various Social Security filing strategies. The Annuity Income Layer will enable manufacturers and distributors to empower financial professionals to quickly create annuity illustrations and proposals with the data they’ve already collected, making it easier to show how an annuity fits into a retirement income plan alongside Social Security and other savings.
In other news, the National Association of Government Defined Contribution Administrators has made an enhanced SECURE 2.0 Resource available. NAGDCA, a professional association for plan administrators and service providers of government-sponsored defined contribution retirement plans, has provided a sortable index of provisions affecting public sector plans linked to comprehensive fact sheets. This resource will also offer insights into NAGDCA’s advocacy efforts on behalf of members and the government plan sponsor community at large.
Furthermore, Voya Financial Inc. has expanded its workplace benefits offerings by launching a supplemental health benefit, Voya Protect. This benefit is designed to help relieve out-of-pocket medical costs for workers and is backed by the insurance technology company Ansel Health. The product offers employers additional optional benefits, including coverage for mental health conditions, and is compatible with health savings accounts.
Overall, these recent developments in the financial and retirement planning industry underscore the ongoing efforts to provide enhanced tools, resources, and benefits to financial professionals, plan administrators, and workers alike. The focus on simplifying processes, providing comprehensive insights, and addressing the evolving needs of individuals in the workforce demonstrates a commitment to supporting the financial well-being of all stakeholders.