BlackRock and SunGard announced Monday a new technological platform that will "support the broader use of funds generating lifetime retirement income within corporate defined contribution (DC) plans."
The SunGard Global Network is an "income window" that will allow plan recordkeeping firms to integrate funds into a plan's administrative and transaction processes.
"The income window, which can be used by any recordkeeping firm, including Third Party Administrators and advisors using SunGard's Omni and Relius platforms, will provide access and the ability to trade lifetime retirement income funds through an integrated link to the SGN," Bob Ward, chief operating officer of SunGard's Wealth Management Business, said in a press release.