DST Systems, a provider of information-processing solutions to the asset management, insurance, retirement, brokerage and health care industries, has launched a new administrative solution that makes retirement income products more widely available to sponsors of defined contribution plans and their participants.
The Retirement Income Clearing Calculator is a middleware solution designed specifically to support guaranteed retirement income products through traditional recordkeeping platforms.
"These new guaranteed income products are essentially the convergence of investment and insurance benefits into a single product," says Larry Kiefer, systems officer for DST Systems. "Current recordkeeping solutions simply aren't suited to handle the attributes of these new offerings. RICC is specifically designed to meet these new demands."
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