Retirement Leaders' Consortium Chooses SS&C to Support Guaranteed Income Solution

SS&C's Retirement Income Clearing & Calculation Platform (RICC) streamlines servicing, distribution and portability for revolutionary QDIA product with all recordkeepers

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SS&C

Mar 18, 2021, 09:00 ET

WINDSOR, Conn., March 18, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that a consortium of leading retirement firms has selected SS&C Retirement Solutions to support the distribution and servicing of its in-plan guaranteed income solution, "Income America™ 5ForLife". The solution will deliver retirement plan participants guaranteed monthly income throughout their retirement.*

The "Income America" consortium includes American Century Investments, Lincoln Financial Group, Nationwide, Prime Capital Investment Advisors, Wilmington Trust, N.A., and Wilshire. Income America 5ForLife is a series of target-date portfolios with an in-plan Guaranteed Lifetime Withdrawal Benefit. SS&C's technology, the Retirement Income Clearing & Calculation Platform, is the middleware between record-keepers and insurers performing all accounting and product servicing to efficiently distribute the Income America product offering to plans and participants across multiple record-keeping platforms.

"Income America aims to transform the retirement industry with in-plan lifetime income guarantees. To do so, the income solutions we offer have to be easy to access, distribute and transfer for the record-keeper, retirement plan, advisor and participant," said Matthew Wolniewicz, President, Income America. "SS&C's RICC platform offers a simple but elegant solution for the complex management of these products."

RICC enables record-keepers to own the participant experience while providing web services to guide participant transaction decisions, present guaranteed benefit projections and support integrated account statement services. Functioning as a central data repository for income benefits, RICC supports portability and conversions as participants' benefits move among record-keepers and to companion IRAs.

"RICC is specifically designed to be the single point of connection for record-keepers, eliminating the need for plan administrators to invest in new technology to support the servicing of innovative product solutions like Income America ," said John Geli, President, SS&C Retirement Solutions. "We are excited to work with our partners to support the growth and servicing of participant income solutions in this evolving new market."

*Guarantees are subject to the claims-paying ability of the issuing companies. The income guarantee is based on the income base at age 65, which is set to the greater of the market value or total contributions (less withdrawals) to date. The market value of the account is never guaranteed and fluctuates based on investment performance. While the market value of the account can be withdrawn at any time without any fees or penalties, doing so will cause the loss of the income guarantee.

About Income America Consortium

About American Century Investments
American Century Investments is a leading global asset manager focused on delivering investment results and building long-term client relationships while supporting research that can improve human health and save lives. Founded in 1958, American Century Investments' 1,400 employees serve financial professionals, institutions, corporations and individual investors from offices in New York; London; Hong Kong; Frankfurt; Sydney; Los Angeles; Mountain View, Calif.; and Kansas City, Mo. Jonathan S. Thomas is president and chief executive officer, and Victor Zhang serves as chief investment officer. Delivering investment results to clients enables American Century Investments to distribute over 40 percent of its dividends to the Stowers Institute for Medical Research, a 500-person, non-profit basic biomedical research organization. The Institute owns more than 40 percent of American Century Investments and has received dividend payments of $1.7 billion since 2000. For more information about American Century Investments, visit www.americancentury.com.

American Century Investments^®provides underlying sub-asset class and target date glide path management as well as marketing support for Income America.

About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, and guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. The company had $303 billion in end-of-period account values as of December 31, 2020. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good. Dedicated to diversity and inclusion, we earned perfect 100 percent scores on the Corporate Equality Index and the Disability Equality Index, and rank among Forbes' World's Best Employers, Best Large Employers, Best Employers for Diversity, and Best Employers for Women, and Newsweek's Most Responsible Companies. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

About Nationwide
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow the firm on Facebook and Twitter.

About Prime Capital Investment Advisors
Prime Capital Investment Advisors provides a client-centric team approach to full-service financial planning, including fee-based asset management and wealth management through its Prime Capital Wealth Management brand. PCIA currently has 26 locations throughout the United States, with investment advisor representatives serving clients across the nation. Advisory services offered through Prime Capital Investment Advisors, LLC. ("PCIA"), a Registered Investment Adviser. For more information, visit www.pciawealth.com.

About Wilshire
Wilshire Advisors LLC is a leading global investment technology and advisory company, dedicated to improving outcomes for investors worldwide. Founded in 1972, Wilshire advises on over $1.1 trillion in assets and manages $76 billion in assets. Specializing in innovative investment solutions, consulting services and multi-asset analytics, Wilshire serves more than 500 institutional and intermediary clients worldwide, delivering a high quality, coordinated platform of client-centric investment solutions that leverage the entire firm's resources to the maximum benefit of our clients. More information on Wilshire can be found at www.wilshire.com.

About Wilmington Trust
Wilmington Trust, N.A. provides corporate and institution services including institutional trustee, retirement plan, agency, asset management, and administrative services for clients worldwide who use capital markets financing structures. Wilmington Trust provides directed trustee, custody, and fiduciary services for retirement plans, companies, foundations, organizations, and financial institutions. Wilmington Trust also provides Wealth Advisory services with a wide array of personal trust, financial planning, fiduciary, asset management, and family office solutions designed to help high-net-worth individuals and families grow, preserve and transfer wealth. Wilmington Trust maintains offices throughout the United States and internationally in London, Paris, Dublin, and Frankfurt. For more information, visit www.WilmingtonTrust.com.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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