Pacific Life and Franklin Templeton Collaborate on Lifetime Income Solutions
The Californer/10232735

NEWPORT BEACH, Calif. ~ Pacific Life and Franklin Templeton have announced a collaboration to tackle the need for lifetime income for defined contribution plan participants. The recent passage of the SECURE Act 2.0 and continued focus on supportive regulatory legislation has led to an increased interest in offering lifetime income solutions to plan participants.

Brian Woolfolk, executive vice president and head of Pacific Life's institutional business, said "We're excited to deepen our longstanding relationship with Franklin Templeton. Participants are best served when innovation and expertise are leveraged to produce meaningful solutions that result in better retirement outcomes."

Pacific Life is able to manage risk through innovative solutions in the lifetime income space, while Franklin Templeton has strength and expertise in investment management, and robust personalized allocation methodology. Michael Oler, assistant vice president and head of Pacific Life's defined contribution lifetime income, said "A one-size-fits-all approach to retirement planning is falling short of the needs of most plan participants. This collaboration will address the need for personalization and customization in retirement savings and help plan sponsors help their participants achieve better retirement outcomes."

More on The Californer

• IN the Spirit" Spoken Word Documentary Set to Captivate Audiences Worldwide in Summer 2025**
• Mother's Day Wake-Up Call for Maternal Health: New Initiative Demands Better Postpartum Support
• AMERICAN SKIN ASSOCIATION ANNOUNCES RESEARCH ACHIEVEMENT AWARDS
• Your community classifieds [Vivinavi] offers FREE reservation system
• Southbox Entertainment, FinTech Pioneer & Entrepreneur Jon Gosier Join Psychological Thriller The Dutchman as Financing Partner

The 2023 Voice of the American Worker study conducted by The Harris Poll on behalf of Franklin Templeton found that 85% of U.S. workers would welcome access to a future guaranteed income stream as an employment benefit. Yaqub Ahmed, Head of U.S. Retirement, Insurance & 529 at Franklin Templeton said "Crafting next-generation solutions that meet the unique needs of participants is core to our values and allows us to make meaningful progress toward providing financial well-being to all Americans."

Both firms have been serving the needs of retirees for decades through thought leadership, education, and awareness tactics within the industry. With this collaboration they hope to provide innovative solutions that are simple to administer and meet plan participants' needs for a secure retirement future.

---

Show All News | Report Violation