Annuities Meet Their Match

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This Pensions & Investments article covered the launch of a new defined-contribution annuity product developed under Scanlan’s leadership at BGI, for which the firm had filed multiple patent claims. The product was designed to embed annuity-like income features within a 401(k) structure, addressing one of the central criticisms of defined-contribution plans: the absence of guaranteed lifetime income.

The piece discusses the regulatory and product design challenges involved in bringing annuity features into DC plans and captures BGI’s broader strategy — championed by Scanlan — of using the firm’s institutional capabilities to improve retirement outcomes for individual plan participants.