The retirement services arm of Prudential Financial Inc. has developed a retirement plan option that combines a benefit guarantee with investment management help.
Prudential, Newark, N.J., says it has worked with a unit of Morningstar Inc., Chicago, to create the new IncomeFlex feature for retirement plan members ages 50 and older who use Prudential’s GoalMaker asset-allocation program.
The IncomeFlex feature will create a guaranteed withdrawal benefit when participants retire.