Back to Investments

A Retirement Option You Can’t Outlive

Our Lifetime Guaranteed Income Account (LGIA) provides you with guaranteed income so you will know exactly how much money you can count on when you retire.

It’s an investment option that allows you to fund something similar to your own personal pension. Each contribution you make to your employer’s retirement savings plan is converted into guaranteed retirement income you can’t outlive.

Designed to Reduce Risk

The LGIA can eliminate three common risks in retirement:

  1. Longevity risk – the possibility that you will outlive your savings
  2. Market risk – the impact of market volatility on your retirement savings*
  3. Sequence of Return risk – the impact negative returns, early in retirement, can have on your portfolio and on your retirement income

*Participants who choose this option do not participate in the market and therefore do not have the upside potential which additional options may provide.

How Does LGIA Work?

  • You can elect to direct all or part of your contribution to the LGIA. By doing so, you:
    • Build an account balance – just like any other investment option, and
    • Purchase amounts of guaranteed retirement income
  • Prior to retirement, you have the flexibility to transfer your account balance to any other investment options within the plan**
  • Both the account balance and the amount of guaranteed income will be shown on quarterly statements and on the website
  • At retirement, you can elect to take either the account balance or the guaranteed retirement income for life
  • **Certain restrictions apply to transfers in and out of the Lifetime Guaranteed Income Account. If funds are moved to another investment option, you will lose the guaranteed retirement income benefit. Direct transfers between the Guaranteed Account and Lifetime Guaranteed Income Account are not permitted.