NEW YORK, March 29, 2011 /PRNewswire/ -- AXA Equitable Life Insurance Company announced today the launch of Retirement Gateway(SM), (Gateway) an innovative group variable annuity to fund retirement plans for the small- to mid-size market.
"At a time when 401(k) assets are again viewed as an important way to help Americans reach their retirement goals, providing plan sponsors with a full-service retirement benefit is critical," said Nick Lane, president of the Retirement Savings division of AXA Equitable. "We're pleased to introduce Retirement Gateway and believe it will empower plan participants to take even greater control of their financial futures."
Retirement Gateway includes a broad range of investment options; fiduciary support; administration support and service; and ongoing, interactive and customizable employee education and service. In addition to the traditional 401(k) plan, Gateway supports other retirement benefit plan types including profit-sharing, age-weighted/new comparability plans, money purchase plans, Safe Harbor plan provisions and a Roth 401(k) feature.
"Gateway provides the services, support and guidance business owners need to manage all aspects of their retirement plan and to provide their employees with access to in-depth retirement savings education and robust investment options," said Mark Scalercio, senior vice president and head of AXA Equitable's Employer Sponsored division. "This platform gives business owners more time to focus on their business and also helps them attract and retain talented employees."Product Features and Services: Diversified Investments Gateway offers diversified investment options and strategies for different investment styles and risk appetites, accommodating beginners and sophisticated investors. Plan sponsors can customize their investment lineup by choosing from more than 100 investment options, representing well-known fund families and all major investment categories. Options include:
- A choice of Target Date and Risk-Based Asset Allocation Portfolios for investors who want a one-step approach.
- Individualized investment options that include active, passive (index) and multi-manager styles for those who want to take a more active role in managing their portfolios.
- A Guaranteed Investment Option (GIO) with a guaranteed fixed rate of return.
- A Stable Value Fund that offers potential for principal protection with investment diversification.
- Automatic Asset Rebalancing, a feature that periodically rebalances an employee's account so the ratio of stocks to bonds resets to the account's target asset allocation.