This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

United Technologies Corporation Launches Innovative Lifetime Income Strategy Within Its Defined Contribution Plan

NEW YORK, June 26, 2012 /PRNewswire/ -- At a time when the current sources of secure retirement income are under stress, United Technologies Corporation (UTC) has taken a major step forward in engineering greater retirement security for its workforce through its Defined Contribution (DC) plan.   As the culmination of a multi-year effort to enhance retirement benefits available through its DC plan, UTC has launched the Lifetime Income Strategy. This new default investment option is based on a design by AllianceBernstein L.P. (AllianceBernstein) and built to provide the simplicity of a target date fund with the security of lifetime income, similar to a traditional DB plan. The new option offers investors greater freedom, flexibility, and control. 

Natalie Morris, UTC's Director of Employee Benefits, stated, "UTC is committed to offering competitive benefit programs that offer substantial value to our employees.  We're adding the Lifetime Income Strategy specifically to offer participants who receive their UTC retirement benefits through our DC plan an affordable and effective option designed to provide the opportunity for secure income in retirement.  Our goal is to ensure UTC employees have the tools to confidently prepare for retirement, and we believe the Lifetime Income Strategy will be a valuable option for many participants."

The Lifetime Income Strategy is an age-based default investment option that continuously reinforces the power of savings as the means to generating secure retirement income.

"It was critical that the Lifetime Income Strategy preserved the flexibility and control our participants have come to expect from their defined contribution plan," said Robin Diamonte, UTC's Chief Investment Officer.  "As the plan sponsor, we wanted a multi-insurer solution to promote price competitiveness and greater capacity."   Kevin Hanney, a UTC Pension Director, added, "The Lifetime Income Strategy combines time-tested solutions into a single, simple to use retirement program designed to provide security and certainty, so that our participants can retire with confidence knowing they will have financial freedom and flexibility even when the unexpected occurs."

The Lifetime Income Strategy was built as a next-generation target date portfolio.  More than a single fund or even series of funds, this personalized savings and investment strategy applies the efficacy and simplicity of target date investing to construct a truly individualized approach. Through the Lifetime Income Strategy, each DC plan participant now has access to a target date portfolio built specifically for them.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,086.06 +35.31 0.21%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,828.0350 +17.2470 0.36%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs