AllianceBernstein Holding LP has announced the addition of Pacific Life as a new insurer to its multi-insurer platform, delivering lifetime income solutions to large Defined Contribution $(DC)$ plans. This expansion is part of AllianceBernstein's ongoing efforts to enhance its retirement income capabilities through its Lifetime Income Strategy $(LIS.AU)$ and the AB Secure Income Portfolio. The inclusion of Pacific Life aims to create better retirement outcomes for DC participants by offering a secure income stream in retirement, alongside access to their funds and potential asset growth. The collaboration is expected to benefit plan sponsors and participants by offering competitive withdrawal rates and mitigating risk with a multi-insurer structure.
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