AllianceBernstein adds Pacific Life as New Insurer to its Multi-Insurer Lifetime Income Platform
AllianceBernstein adds Pacific Life as New Insurer to its Multi-Insurer Lifetime Income Platform |
| [22-July-2025] |
NASHVILLE, Tenn., July 22, 2025 /PRNewswire/ -- AllianceBernstein L.P. ("AB") (NYSE: AB), a leading global investment management firm, announced today it has added Pacific Life to back its multi-insurer platform delivering lifetime income solutions to large Defined Contribution (DC) plans. Today's announcement with Pacific Life is the latest in the global asset management firm's continued expansion of its retirement income capabilities. AB's lifetime income platform consists of the Lifetime Income Strategy (LIS), a target-date portfolio with a flexible guaranteed income option, and the AB Secure Income Portfolio, which is a component of LIS and also available separately as a Collective Investment Trust (CIT). The Lifetime Income Strategy has approximately $12 billion* in assets under management, including $4.5 billion in secured income. "In 2012, AllianceBernstein was one of the first asset managers to offer a flexible lifetime income solution to the DC market," said AB's Head of Defined Contribution Jennifer DeLong. "For more than a decade, we've continued to adapt to our clients' needs and enhance our distinctive, multi-insurer platform. Our firm's state-of-the-art technology, innovation, and extensive experience enable us to partner with several insurers – and we are delighted to continue our evolution with the addition of Pacific Life." The AB Secure Income Portfolio provides DC plan sponsors with the flexibility to implement lifetime income in several ways to meet plan sponsors' preferences. Both LIS and the stand-alone AB Secure Income Portfolio provide participants with a secure income stream in retirement, as well as control of their account, full access to their money and the opportunity for their assets to grow. Pacific Life is being added as an insurer to both LIS and the AB Secure Income Portfolio CIT. "This is a significant step in our mission to create better retirement outcomes for defined contribution participants," said Karen Neeley, senior vice president, Institutional Retirement Solutions Group at Pacific Life. "The collaboration with AllianceBernstein reflects our ongoing commitment to providing lifetime income solutions that meet the diverse needs of plan sponsors and their employees. We're excited to advance this effort as part of AB's innovative lifetime income platform, helping more individuals retire confidently." AB's multi-insurer structure benefits participants and plan fiduciaries by producing more competitive withdrawal rates, mitigating risk, and allowing for continued capacity into the future. The other participating insurers in the program may include Equitable, Jackson National Life Insurance Company® (Jackson®), Lincoln National Life Insurance Company, and Nationwide Life Insurance Company. AB's lifetime income solutions are available on three recordkeeping platforms, with plans for expansion. For more information, please visit alliancebernstein.com. AB is a subsidiary of Equitable Holdings, Inc., (EQH), a leading financial services holding company comprised of well-established and complementary businesses. Equitable Holdings, Inc., directly and through various subsidiaries, owns an approximate 69% economic interest in AB. *Assets under management as of March 31, 2025. About AllianceBernstein About Pacific Life Pacific Life, its affiliates, its distributors, and respective representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor or attorney. Pacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products. Pacific Life, its affiliates, its distributors, and respective representatives do not provide any employer-sponsored qualified plan administrative services or impartial advice about investments and do not act in a fiduciary capacity for any plan. Pacific Life Insurance Company is licensed to issue insurance products in all states except New York. Product/material availability and features may vary by state. Pacific Life is solely responsible for the financial obligations accruing under the products it issues. Group annuity products are available through licensed third parties. The home office for Pacific Life Insurance Company is located in Newport Beach, California. Contract Form Series: GRC-1700-LIS (and state variations).
SOURCE AllianceBernstein | ||
Company Codes: NYSE:AB |
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