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Retirement Planning > Spending in Retirement > Income Planning

John Hancock Financial Network rolls out revised income planning program

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John Hancock Financial Network, Boston, Mass., has added tools to Retirement Ready, a retirement income program that helps financial professionals develop a strategy to maximize client’s sustainable retirement and minimize risks.

Launched last fall, the program boasts a product allocation analysis tool, sales materials and a dedicated support team. The program upgrade includes software tools that facilitate discussion and evaluation of legacy planning options; enhanced, client-specific investment growth rate flexibility; and additional product comparison tools.

The program’s core component is RSQ Analyzer, an income planning tool that leverages a methodology developed by Moshe Milevsky, president of Toronto-based QWeMA Group Inc. The tool determines a client’s product allocation and provides a Retirement Sustainability Quotient (RSQ) reflecting the relative likelihood that a client’s portfolio will generate the income desired.

401(k) Marketing, a division of Futurity First Insurance Group, Rocky Hill, Conn., has unveiled training and marketing programs in support of National Life Group’s SecurePlus VIP Fixed Indexed Annuity, an annuity exclusively for 401(k) retirement plans.

In addition to offering a guaranteed lifetime income option, the SecurePlus VIP annuity includes these features:

  • Payroll deducted contributions and transfers to other options inside the 401(k) plan.
  • Electronic recordkeeping to helps keep administration fees low.
  • Portability of the annuity should the employee separate from the company.
  • On-line monitoring, management & information for employers and employees.
  • No-cost riders for nursing home care and a death benefit in approved states.

Great-West Financial, Greenwood Village, Colo., has debuted a suite of retirement products and services for plan sponsors and participants. The new tools include:

  • The Retirement Income Control Panel, which offers a tailor-made retirement strategy for savings targets and gives each individual a custom income plan for spending down his or her retirement savings.
  • 3(21) Fiduciary Services for new ERISA 401(k) plans provides plan sponsors and their advisors with co-fiduciary protection in the selection and monitoring of a plan’s investment options.
  • Account Retirement Income Estimate on Physical Statements provides participants with an estimate of their monthly retirement income based on the accounts Great-West Financial record keeps for them.
  • Retirement Readiness Report Card for plan sponsors analyzes and reports on participants’ estimated retirement income levels versus participants’ target retirement income levels, then gives plan sponsors strategies for closing the gap (planned for the first quarter of 2013).


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