Lifetime Income Funds

Manage your retirement investments and income at the same time.

Lifetime income funds, such as those that provide a guaranteed minimal withdrawal benefit, are generally annuity products that provide lifetime income based on assets an individual has accumulated.

  • They typically allow an investor to lock in a guaranteed income stream for life, including for the life of a surviving spouse, that is protected against market downturns yet has the potential to increase due to positive fund performance.
  • Investors always have access to the fund's market value and, upon death, beneficiaries have access to any remaining balance. While excess withdrawals may reduce or terminate the fund's guarantees, investors have flexibility versus more traditional annuity products;
  • Lifetime income funds may be used to bridge the gap between pension and Social Security income and ongoing expenses in retirement, or as a source of lifetime income for those without a pension. They are generally designed for individuals within 10-15 years of retirement or who have recently retired and need additional ongoing lifetime income. Older individuals who wish to provide for a surviving spouse may also be interested in the funds' spousal benefits.

The MissionSquare Retirement IncomeAdvantage Fund is a lifetime income fund available to certain 401 and 457 plan investors as an underlying fund of the MSQ Funds. To learn more about the IncomeAdvantage Fund - including its availability in your plan and fees and restrictions - log in to your account. Or, for general information, view the IncomeAdvantage Fund brochure.

Empower Annuity Insurance Company (EIC), CA COA #08003, Hartford, CT. Neither EIC nor MissionSquare guarantees the investment performance or return on contributions to EIC’s Separate Account. You should carefully consider the objectives, risks, charges, expenses and underlying guarantee features before purchasing this product. EIC may increase the Guarantee Fee in the future, from 1.00% up to a maximum of 1.50%. Like all variable investments, this Fund may lose value. Availability and terms may vary by jurisdiction; subject to regulatory approvals. Annuity contracts contain exclusions, limitations, reductions of benefits and terms for keeping them in force. Guarantees are based on EIC’s claims-paying ability. This annuity is issued under Contract form # GA-2020-TGWB4-0805-RC. MissionSquare provides recordkeeping services to your Plan and is the investment manager of the underlying EIC separate account. EIC or its affiliates may compensate MissionSquare for providing these and related administrative services in connection with the Fund. Before electing the Spousal Benefit (if available) on behalf of any beneficiary not recognized as your spouse under Federal law (a civil union partner), be aware that provisions of your plan or the Internal Revenue Code might prevent, limit, or otherwise affect the ability of the beneficiary to receive the Spousal Benefit. Variable annuities are suitable for long-term investing, particularly retirement savings. Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries. This materials is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. ©2022 Empower Retirement, LLC. All rights reserved. Note: Participants who are interested in the MissionSquare Retirement IncomeAdvantage Fund must first receive and read the MissionSquare Retirement IncomeAdvantage Fund Important Considerations document, before investing.

Investors should carefully consider their own investment goals, risk tolerance and liquidity needs before making an investment decision. Investing involves risk, including possible loss of the amount invested. The Funds’ offering and disclosure documents include a complete summary of all fees, expenses, financial highlights, investment objectives and strategies, and risks, and should be carefully reviewed before investing. This information is available when you log in at, or upon request by calling (800) 669-7400.

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