Vitera Launches Institutional Share Class for State Street GTC Retirement Income Builder Target Date Fund Series, Expanding Guaranteed Income to More 401(k) Participants
New Share Class Delivers Default-Ready, Fully Liquid Income Solutions to Large- and Mega-Defined Contribution Plans
NEW YORK, Oct. 27, 2025 (GLOBE NEWSWIRE) — Vitera (formerly ARS), the provider of simple, flexible and liquid guaranteed income solutions for the defined contribution market, today announced a new Institutional Share Class (I Class Shares) for the State Street GTC Retirement Income Builder Target Date Fund Series. These new I Class Shares expand access to multi-carrier guaranteed income for large- and mega-plans across the defined contribution market, marking a major milestone in Vitera’s mission to integrate lifetime income into workplace savings plans.
Vitera’s Lifetime Income Builder technology is the first multi-carrier solution that seamlessly embeds guaranteed income in a target date fund, allowing plans to easily deliver a retirement income stream to participants. Lifetime Income Builder provides participants full liquidity before and during the income phase, and the flexibility to adjust income as needs change. With income beginning at age 65, based on 6% of the highest captured value before retirement1, Vitera’s Lifetime Income Builder provides lifetime income without complexity. This proprietary approach is designed to provide 50% more income in retirement relative to the industry standard 4% withdrawal rate.
Every day, more than 12,000 Americans reach retirement age, most without the security of a traditional pension. The shift to defined contribution plans such as 401(k)s leaves workers to manage their own savings, often without the tools to spend those savings confidently. 7 in 10 (70%) workers say they want an automatic way to convert savings to retirement income included in their retirement plan, yet only about one in four plan sponsors currently offer retirement income solutions.2 Vitera is addressing this gap by redefining access to retirement income for plan participants.
“For decades, 401(k) plans have helped people save for retirement. However, participants still lack a simple way to know what they can safely spend after they stop working,” said Rebecca Tadikonda, CEO of Vitera. “By expanding our fiduciary-aligned solutions to the largest retirement plans, Vitera can help even more retirees access the benefits of guaranteed income in retirement without sacrificing liquidity or access to their savings.”
Lifetime Income Builder currently powers the State Street GTC Retirement Income Builder Target Date Fund Series, which is the default option in nearly 40 retirement plans. Athene and Nationwide, two highly rated insurers, deliver lifetime income to the series.
The introduction of I Class Shares for the fund series represents a new era of expanded access to guaranteed lifetime income through employer-sponsored retirement plans. Competitive institutional pricing is consistent with traditional target date funds and has no added charge for guaranteed income, aligning with consultant and plan sponsor expectations for default-ready solutions in large- and mega-plans. Delivered through a Collective Investment Trust (CIT) with daily NAV, the I Class Shares provide full fiduciary alignment by meeting QDIA standards.
About Vitera
Vitera helps workers turn their retirement savings into income they can count on for life, making guaranteed income simple and flexible so people can spend with confidence. For employers and plan sponsors, Vitera provides a seamless way to deliver better retirement outcomes, supported by its innovative multi-carrier Lifetime Income Builder platform that integrates guaranteed income directly into workplace savings plans. Vitera is backed by a strategic investment from Apollo Global Management, Athene and Motive Partners.
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Each target date fund in the series is established by Global Trust Company and held in the GTC Retirement Income Builder Collective Investment Trust (the “Trust”). The Trust is a bank-sponsored collective investment trust and not a mutual fund. Global Trust Company serves as trustee of the Trust, manages the Trust, and has ultimate investment authority for each fund in the Series. State Street Global Advisors manages a portion of the solution’s underlying assets and provides Global Trust Company with glidepath recommendations for the funds within the Series.
Lifetime Income Builder is a group fixed indexed annuity with a guaranteed lifetime withdrawal benefit (a “FIA”). Each TDF may invest in more than one FIA, collectively which are referred to throughout this presentation as “Lifetime Income Builder.” Vitera, LLC is the inventor of Lifetime Income Builder. The FIA guarantees are made to the trustee of the TDF, not to the participants. Participants are not beneficiaries of any annuity contract. Lifetime Income Builder is not provided by or guaranteed by Global Trust Company, State Street Global Advisors, Vitera, LLC or any of their affiliates.
Each fund is designed to provide participants target annual income of 6% at income activation and a target minimum lifetime income percentage of 4.5%. The target percentages are goals and there is no assurance that the funds will be able to make payments that meet either target percentage. All income payments to participants, regardless of the percentage, are always dependent on the trustee.
The funds invest in FIAs that are intended to back the Trust’s investment objectives, lifetime income. Each FIA is issued by an insurance company to the trustee. The FIAs provide guaranteed payments to the Trust and are subject to the claims-paying ability of the issuing insurance companies. If the value of the non-FIA investments in the fund reaches zero at or after income activation, income payments are adjusted to the cumulative guaranteed percentage provided to the Trust by the FIAs, which is targeted by the trustee of the fund to be the target minimum lifetime income percentage of 4.5%. The actual annual income percentage and actual minimum lifetime income percentage are dependent on economic factors and may be more or less than what is targeted. There are possible, but extreme, market conditions where the FIAs’ cumulative guaranteed percentage that is provided to the Trust could be less than 4.5%. Therefore, we use the term “target minimum lifetime income percentage” to properly reflect the potential for such scenario. In that scenario, the FIAs would still provide guaranteed payments to the Trust, but it would be something less than the targeted minimum of 4.5%, and payment of income to the participants would remain dependent on the trustee.
If a participant selects the joint income option offered by the fund, the actual payment percentages will be less than 6% and 4.5%, but instead of income payments terminating upon the death of the participant, income payments will continue to be made to the joint beneficiary if the joint beneficiary outlives the participant.
Current target annual income and target minimum lifetime income percentages reflect economic conditions at the time each fund is created. Future funds in the series could have lower or higher targeted percentages based on economic conditions at the time of the fund’s creation. Please refer to the Offering Memorandum for more information on the risks of not receiving income payments.
The funds are designed for investors expecting a stream of income around the year indicated in each fund’s name. When choosing whether to invest in the fund for which an investor’s age qualifies, investors should consider whether they anticipate a need for an income stream significantly earlier or later than age 65. There may be other considerations relevant to determining whether investment in the fund best meets their individual circumstances and investment goals. The funds’ asset allocation strategy becomes increasingly conservative as it approaches the target date and beyond. The investment risks of each fund change over time as its asset allocation changes.
An investment in a fund is not a bank deposit and is not insured or guaranteed by the insurance companies, the trustee, State Street Global Advisors, the Federal Deposit Insurance Corporation (“FDIC”), or any other government agency. The Trust is not insured by the FDIC and is not registered with the Securities and Exchange Commission.
Each FIA is issued by an insurance company to the trustee. The FIAs do not create any third-party beneficiary relationships or third-party beneficiary rights for any other person or entity. The insurers do not guarantee that participants will receive lifetime income.
The information provided herein does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security or a product, or a recommendation of the suitability of any investment strategy for a particular investor. It does not take into account any investor’s particular objectives, strategies, tax status or investment horizon.
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10/31/2026
1 Highest account value is calculated via a High-Water Mark (HWM) that records the highest value the entire target date portfolio reaches before retirement between the ages of ~47 and ~65, at each quarter end. This HWM then become the income base once income activation begins.
2 Source: 2025 Guaranteed Lifetime Income Study, Greenwald & Associates