Equitable Launches Innovative Retirement Solution for Educators
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Equitable's New EQUI-VEST Series 202 for Educators
Equitable, a distinguished name in financial services, has unveiled a promising addition to its extensive range of retirement solutions aimed specifically at K-12 educators. This upgraded offering, known as the EQUI-VEST® Series 202, is designed to empower educators across the country by augmenting their retirement savings options, providing them with more choices and a reassuring safety net in today’s unpredictable financial world.
Key Features of EQUI-VEST Series 202
The EQUI-VEST® Series 202 is made available to employees who are part of a 403(b) plan at public schools throughout the nation. One of the standout features of this product is the Structured Investment Option, which allows participants to benefit from potential gains in the market with built-in protections against losses. The product ensures that educators can maintain their focus on their essential duties while feeling secure in their financial strategies.
Investment Opportunities
This innovative series incorporates buffered indexed options that safeguard participants against losses up to -30%, implement extended segment periods, and offer them the chance to secure their gains. The growth potential of the investment mirrors the selected index, capped at specific levels. Such an offering makes EQUI-VEST unique, as it stands out as the only 403(b) product delivering a variable annuity linked to an index.
Addressing Economic Concerns for Educators
Recent surveys reveal that a significant proportion of Americans perceive current economic conditions as unstable. This scenario drives many to seek reliable solutions for growing and protecting their retirement savings. Jim Kais, Equitable's Head of Group Retirement, notes that this new series builds upon their established reputation in the market for registered index-linked annuities, adding a layer of investment opportunity that aims to alleviate the concerns many educators face. By enhancing their financial security, Equitable hopes to allow educators to concentrate on their pivotal role in shaping future generations.
Supporting Longevity and Decumulation Needs
Another critical aspect that EQUI-VEST® Series 202 addresses is the risk of longevity and concerns over decumulation. Upon reaching retirement, participants can convert their 403(b) account balances into guaranteed lifetime income, a feature that aligns with the preferences of nearly two-thirds of Americans who favor a stable income stream instead of navigating the complexities of withdrawals from retirement accounts.
Enhancing Financial Support for K-12 Educators
Pensions have traditionally served as the main retirement income source for many public-school teachers. However, they are often insufficient to replace their full income in retirement. The EQUI-VEST® Series 202 is designed to augment the financial support available to educators, providing a flexible framework that meets diverse individual needs. As many teachers rely on their 403(b) plans for additional savings, this new series plays a pivotal role in enriching their retirement strategies.
Equitable's Commitment to Educators
For nearly five decades, Equitable has proudly served and supported over 800,000 educators as the leader in K-12 retirement plans. With a dedicated workforce of over 1,100 financial professionals, Equitable Advisors provides educators with tailored financial advice and strategies to enhance their overall income and ensure sound financial decisions.
About Equitable
Equitable stands as a leading financial services provider in the United States since its establishment. Known for its commitment to helping clients achieve financial well-being, Equitable offers comprehensive advice, protection, and retirement strategies to individuals, families, and institutions. With a robust network and more than 8,000 employees and Equitable Advisors professionals in place, Equitable serves a wide clientele base across the nation, striving to equip them with the tools needed for a secure financial future.
Frequently Asked Questions
What is the EQUI-VEST® Series 202?
The EQUI-VEST® Series 202 is a series of deferred variable annuities designed to help K-12 educators enhance their retirement savings with more options and a safety net against market losses.
Who can enroll in the EQUI-VEST® Series 202?
This product is specifically available to employees enrolled in 403(b) plans at public schools across the United States.
What are the main features of the EQUI-VEST Series 202?
The series offers buffered indexed options, downside protection, investment growth potential, and guaranteed lifetime income upon retirement.
How does Equitable support K-12 educators?
Equitable supports educators by providing tailored retirement solutions, expert financial advice, and a dedicated team of professionals to address their unique financial needs.
Why is it important for educators to consider retirement savings?
The shift away from pensions as a sole income source necessitates educators to explore additional retirement savings strategies to ensure financial stability in their retirement years.
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