Important Information
Note to plan sponsors and responsible plan fiduciaries: This material is intended for use by plan sponsors and other responsible fiduciaries of an eligible retirement plan only and is being provided by BlackRock for informational and educational purposes as you consider developing materials related to the LifePath Paycheck® (“LPP”) solution that you may wish to provide to your plan participants in the future. This material and statements herein should not be considered fiduciary investment advice by anyone nor be construed as a promise regarding your plan’s investment options or plan outcomes. It is strictly confidential and may not be reproduced for, disclosed to or otherwise provided in any format to any other person or entity (other than your professional advisors bound by obligations of confidentiality) without the prior written consent of BlackRock.
The LPP solution includes an accompanying digital portal known as MyLifePath® (“MLP”). There are no guarantees that the features of the LPP solution or MLP digital experience will be implemented as they are described herein. The LPP solution is subject to, among other things plan sponsor adoption and implementation considerations. The LPP solution is currently available to U.S. employer-sponsored defined contribution plans qualified under Sections 401(a), 403(b)(9), and governmental plans qualified under Section 457(b) of the Internal Revenue Code of 1986, as amended, that have each entered into an investment management agreement with BlackRock Institutional Trust Company, N.A. (“BTC”). Puerto Rico qualified, or U.S. and Puerto Rico dual-qualified defined contribution plans, are not eligible to participate in LPP. A plan sponsor and/or the responsible fiduciary of an eligible plan should expect to allocate time and resources in connection with the onboarding and operational implementation of LPP (as well as the ongoing support of LPP) in the event LPP is adopted as an investment option for its participants. In support of a plan sponsor’s decision to adopt LPP as an investment option for its plan participants, BlackRock can make available to plan sponsors and/or responsible fiduciaries information regarding, among other things: legal documentation, onboarding and operational implementation requirements, participant experience, disclosures, and technology integration.
Certain group annuity contracts in connection with LPP are issued by Brighthouse Life Insurance Company, Charlotte, NC 28277, and individual retirement annuity contracts are issued by Brighthouse Life Insurance Company, Charlotte, NC 28277, and, in New York only, by Brighthouse Life Insurance Company of NY, New York, NY 10017 (“Brighthouse Financial”). Brighthouse Financial® and its design are registered trademarks of Brighthouse Financial, Inc. and/or its affiliates. All product guarantees are solely the responsibility of and subject to the financial strength and claims paying ability of the Brighthouse Financial issuing company. Other annuities are issued by Equitable Financial in connection with LPP, and any product guarantees associated therewith, are solely the responsibility of Equitable Financial Life Insurance Company, New York, NY 10105 (“Equitable Financial” together with Brighthouse Financial are the “Selected Insurers”).
The annuity purchase option associated with an investment in certain LPP funds and which may be described or referenced in these materials is designed to provide eligible plan participants with a stream of lifetime income payments. The obligation to make the stream of lifetime income payments will be guaranteed under the terms of an individual retirement annuity contract a Selected Insurer issues to an eligible participant. The issuance of individual retirement annuity contracts by the Selected Insurers is subject to, among other things, receipt of an eligible participant’s applications determined by each of the Selected Insurers to be in good order and the participant’s rollover of a lump sum distribution from the plan to individual retirement annuities maintained by each Selected Insurer. The stream of lifetime income payments would be made directly to the participant by each Selected Insurer. All guarantees are subject to the claims-paying ability and financial strength of the issuing insurance company. Each issuing insurance company is solely responsible for its own financial condition and contractual obligations. BlackRock is not an insurance company, does not offer insurance products or provide any financial guarantee with respect thereto. The Selected Insurers are not affiliated with one another or with BlackRock, Inc. and its affiliates, and subsidiaries.
The LPP solution may include collective investment funds maintained BTC, which are available only to certain qualified employee benefit plans and governmental plans and not offered to the general public. Accordingly, prospectuses are not required and prices are not available in local publications. To obtain pricing information, please contact your local service representative at BlackRock. BTC is a wholly-owned subsidiary of BlackRock, Inc. For ease of reference, “BlackRock” may be used to refer to BlackRock, Inc. and its affiliates, and subsidiaries, including BTC (unless the context otherwise indicates). Any strategy referred to herein does not give rise to a deposit or other obligation of BlackRock, is not guaranteed by BlackRock, is not insured by the United States Federal Deposit Insurance Corporation or any other governmental agency, or by the National Credit Union Share Insurance Fund, and may involve investment risks, including possible loss of principal invested.
The opinions expressed may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable. No representation is made that this information is accurate or complete. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader.
This material does not constitute a recommendation by BlackRock or any Selected Insurer, or an offer to sell, or a solicitation of any offer to buy or sell any securities, insurance contract(s), product or service. The information is not intended to provide investment advice. BlackRock does not guarantee the suitability or potential value of any particular investment. This is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution would be unlawful under securities laws of such jurisdiction. Any distribution, by whatever means, of this information and related material to persons other than those referred to herein is strictly prohibited. Investing involves risk, including possible loss of principal. Asset allocation models and diversification do not promise any level of performance or guarantee against loss of principal. Investment in the funds is subject to the risks of the underlying funds. The principal value of the funds is not guaranteed at any time, including at and after the target date. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s interest, when redeemed, maybe worth more or less than the original cost. Any index returns appearing herein are for illustrative purposes only and do not represent actual fund performance. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Collective fund performance assumes reinvestment of income and does not reflect management fees and certain transaction costs and expenses charged to the fund. Actual results may differ depending on the size of the account, investment restrictions, when the account is opened, and other factors. Risk controls, asset allocation models, and proprietary technology do not promise any level of performance or guarantee against loss of principal.
The LifePath Paycheck® funds and MyLifePath® digital platform use patented technology covered by US Patent Nos. 11,605,131 and 12,056,770.
FOR INSTITUTIONAL AND FINANCIAL PROFESSIONAL USE ONLY.
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