Group Variable Annuities

Guaranteed Lifetime Income Through a 401(k) Plan

Now, 401(k) participants can have the security of guaranteed lifetime income and the potential to earn more all through one 401(k) investment option. Participants can choose between a series of guaranteed lifetime income payments or a lump-sum withdrawal. If you take a lump sum withdrawal, you will forfeit the lifetime income guarantee.

Employee contributions are invested in an underlying portfolio comprised primarily of stocks and bonds. Based on the portfolio’s performance, participants have the opportunity to grow their income payments above the guaranteed amount. Even if portfolio fluctuations cause a decline in the account balance, there would not be a decrease in the guarantee purchased.

ClearCourse® Lifetime Income Series Offers:

  • Guaranteed Income – Each contribution to ClearCourse buys a specific amount of retirement income that is guaranteed for life that cannot be outlived
  • Growth Potential – Depending on the performance of the underlying portfolio, participants may receive more than the guaranteed amount
  • Flexibility – Participants can transfer amounts between investment options just like they would with other investment options in their 401(k) plan
  • Ease of Integration – ClearCourse works with major recordkeeper platforms. Plus, it can be tied to an employer match and/or participant contributions
All guarantees are based on the claims-paying ability of Genworth Life and Annuity Insurance Company and all contract requirements being satisfied. Any withdrawals from ClearCourse® will reduce guaranteed retirement income in the same proportion that it reduces the participant’s account balance.

ClearCourse® is a group variable annuity issued by Genworth Life and Annuity Insurance Company, Richmond, Virginia. Policy form numbers MP7164 2/06, P5329 2/06, P5383 9/07, MP7175 07/08, P5408 07/08 not available in all states or markets. Features and benefits may vary by state and market.

ClearCourse® - Patent Pending