LifeStage Retirement Income
Helping you make informed decisions about how to spend your savings over time
Retirement should be about living well, making memories, connecting with loved ones and focusing on your well-being. LifeStage Retirement Income helps you spend your savings with confidence by turning your retirement account balance into predictable monthly payments designed to last throughout retirement.
Why Choose LifeStage Retirement Income?
Transitioning from saving for retirement to spending your savings can feel complex. LifeStage Retirement Income is designed to make that shift easier by:
- Providing steady income: It calculates monthly payments using your age, account balance, cost-of-living trends and other factors to help maintain a consistent income year over year.
- Adjusting automatically: Payments are reviewed annually and may increase if conditions allow, helping your income stay within a safe, sustainable “safety zone.”
- Offering flexibility: You can use all or part of your Wespath retirement savings to create this income stream while keeping any unused funds invested for future use.
Important Information
In some Wespath-administered retirement plans, a portion of your retirement benefit may be required to be distributed through LifeStage Retirement Income when payments begin. If this applies to you, that portion of your benefit will be managed through LifeStage Retirement Income to help provide a consistent approach to income throughout retirement.
How Your Money Is Managed
LifeStage Retirement Income works hand in hand with LifeStage Investment Management, which automatically adjusts your investments to balance growth and preservation of your retirement funds. Together, they help simplify the process of managing your savings and generating income.
Optional Features
Social Security Bridge
For those who want to delay beginning Social Security to increase future benefits, this feature helps “bridge” the gap by providing temporary income until Social Security begins.
- Replaces what you might have received from Social Security during the delay period.
- May lead to higher lifelong Social Security benefits when you begin payments.
Is LifeStage Retirement Income Right for You?
LifeStage Retirement Income is designed for individuals who want:
- Simplified, steady monthly income in retirement
- Professional investment and withdrawal management
- Flexibility to combine guaranteed and market-based income sources
- The ability to leave remaining funds to beneficiaries
Guidance and Support
If you’re unsure whether LifeStage Retirement Income fits your goals, a financial professional can help you evaluate your options in the context of your total retirement picture.
EY Financial Planning Services provides confidential, objective guidance from licensed planners who can help you:
- Explore how LifeStage Retirement Income fits your financial goals
- Understand the impact of Social Security timing and longevity planning
- Develop a personalized retirement income strategy
You can reach EY Financial Planning Services at 1-800-360-2539, Monday–Friday, 8 a.m.–7 p.m. Central time.