Pacific Life's Master Annuity Contract offers employers, plan sponsors and consultants a product that provides for the purchase of fixed annuities for participants at their retirement.
Key features of the Pacific Life Master Annuity Contract
- A group annuity contract that provides retirement plan sponsors with the ability to offer guaranteed fixed annuities to plan participants of their qualified or non-qualified plans.
- An open-ended contract, permitting the purchase of annuities for plan participants when they retire.
- A non-participating contract, meaning that Pacific Life bears the investment risk, as well as, mortality and expense risks.
- Under this contract, Pacific Life will assume financial liability and administrative responsibility for assuring that annuity benefit payments are made.