AllianceBernstein has partnered with three leading insurers—AXA Equitable, Lincoln Financial Group and Nationwide Financial—to provide guaranteed income for target-date funds in large 401(k) plans.

The annuity that the target-date funds invests in providers a guaranteed lifetime income stream while giving participants full access to their account balance at all times. The lifetime income may increase in good markets but will not decrease in poor markets.

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