Setting Up Allianz In Plan Annuities

iJoin provides the ability for In-Plan annuities to be offered via the participant enrollment and post enrollment experiences. This offering requires the following plan level set up within your Relius recordkeeping system as well and iJoin Administrative Portal.

Relius Setup

iJoin Setup

Relius Information and Settings

iJoin offers in-plan Annuities as investments to Relius clients and participants. Annuity details and processing are handled by iJoin after initial setup in Relius.

Once you are licensed for the iJoin Annuity Product . iJoin provides specific investment setup information for entry into Relius. Once the iJoin Annuity Product investment is set up in the Investment table and associated source/fund accounts are generated for a plan, follow these instructions to complete the Relius Set up for the plan. This includes participant web settings for elections and Transfers.

*Note that election change and fund-to-fund transfer requests for the iJoin Annuity Product are not allowed directly via the Relius Participant Web. Once a plan is set up to access and process the iJoin Annuity Product, participants can invest in the annuity by clicking the Create My Strategy button providing access to the iJoin Experience for all annuity related investment options.

Relius Enable iJoin Annuity Settings

Navigate to Data Entry > VRU/Web Setup > Single Plan Setup> Web Setup > Advice/Education from Relius main Menu

Select Enable iJoin Annuity Product
- This option allows the setup of the iJoin Annuity Product for this plan.
- Select File > Save
  - Note: You can now use File > Copy New Fields to copy this setting and enable the iJoin Annuity Product for other plans.

Relius Plan Settings for the iJoin Annuity Product

To enable the iJoin Annuity Investment for a plan, first make sure that the annuity investment has been created and assigned a specific fundId/cusip value of 'IJANNTRAD'. At the current time, the solution only supports Traditional (Non-Roth) annuity policies. Therefore the CUSIP value that is established indicates the investment is for an iJoin-facilitated traditional annuity. Future support will be added for Roth policies, and at that time instructions will be provided for establishing a Roth-specific CUSIP within your Relius system.

From the Relius main Menu.
- Navigate to Plan Specs > Investment Summary.
- Double-click on the iJoin Annuity in the investment list to bring up the investment options form
- Select the Investment Information Tab.
- Select the In-Plan Annuity Product checkbox
  - This option will identify the investment as an in-plan annuity product for this plan.
- Select the Self directed brokerage checkbox and select the applicable trade agent for the investment.
- Click the Modify Button

Relius Disable Plan Web Election Change settings for iJoin Annuity Product

For all accounts that include the iJoin Annuity, Direct election changes via the participant web are not allowed

Navigate to Plan Specs > Account Summary to display the current source/fund account list
- Double-click on one of the accounts containing the iJoin Annuity Product to bring up the modify account form
- Make sure Allow investment election changes is checked
  - once checked the "Do not allow investment election change via the participant web will be available to select
- Select Do not allow investment election changes via the participant web and click Modify
  - This is a required option for all accounts that use this investment.

After clicking Modify the system will display a pop up asking if you want to change this option for all accounts that use this investment. Click Yes

Relius Plan Web Transfer Settings for the iJoin Annuity Product

For all accounts that include the iJoin Annuity, direct fund-to-fund transfer requests via the participant web are not allowed.

Navigate to Plan Specs > Processing > Transaction Settings> Transfers to display the transfer settings for the current Source/fund account list
- For one of the rows displaying an account using the iJoin Annuity Product select No transfers (in or out) from the Web Transfer Restrictions drop-down selection list

The system will display the Modify Investment Transfer Restriction popup form
- Click Yes to copy the setting to all funds including the iJoin Annuity Product.

Relius Exclude SDBA from Conform to Target Transfers

To ensure that money is not inadvertently transferred out of the annuity when Conform to Target transfer requests are initiated from iJoin, you will need apply the following setting across all plans that are using the iJoin In-Plan Annuity option. From Plan Specs, see Processing/Transaction Settings/Transfers/Exclude SDB assets from conform to target and rebalance transactions.

Relius Participant Web and iJoin Annuity Widget

When a participant has invested in the iJoin Annuity Product a new dashboard widget will appear above the My Portfolio section. This will send them to iJoin Experience to review the annuity policy and account benefits.

*Initial annuity investments are completed on a quarterly basis, the above widget will appear for the participant only after the initial annuity investment transaction is complete, subsequent to the participant electing to invest in the annuity product.

iJoin Setup

You have the option to enable the Allianz annuity option as both a self-directed option or via a Managed Account Program (click here for instruction on setting up a Managed Account in iJoin)

IMPORTANT: Prior to being able to setup a plan with the Allianz annuity option, the applicable plan must be established in the Allianz/Retirement Edge carrier system integration so that it can be linked to the same plan in the iJoin system (see steps outlined below).

The following steps will show how to enable the In-Plan Annuity option during plan setup:

Navigate to the plan and select Experience Setup

Under Experience Setup toggle the In-Plan Annuity Option to On
- This will enable the In-Plan Annuity option which will now display on the left hand table in the plan summary screen

Select the In-Plan Annuity from the left hand table

Click the Link Now Button to bring up the Carrier Integration Link Option
- This is used to link your iJoin plan with the same plan at the Annuity Carrier.

In the Carrier Integration Ink screen
- Select your Carrier from the drop down
- Select your Plan
- Then Select Link Selected Plan

The In-Plan Annuity screen will now display the Annuity Product Details, available Annuity Index Options and the Annuity/Bond fund designations for the current plan.
The Allianz annuity is funded exclusively through quarterly sweep function that will transfer a portion of existing account holdings in one of two ways, depending upon how the paricipant has entered the annuity.
- For participants who have self-directed themselves into the annuity, the quarterly sweep function will result in a prorata transfer of the specified percentage from all existing account blances to the annuity account.
- For participants who have entered the annuity through a managed account, the quarterly sweep function will only transfer money from designated bond funds. For these scenarios, the plan setup function in iJoin provides the ability to view and/or modify the selection of plan investments that will serve as the designated bond funds from which annuity funding will be sourced.
  - Click the "Select Funds" button to configure the investments that are to be designated as the bond funds from which money will be moved into the annuity as part of a quarterly sweep process. By default, any investments for the plan hat have been classified as 'taxable bonds' will be preselected. You can remove or add investment selections as necessary as part of this setup.

Navigate to the Plans Investment Paths

To enable the Allianz annuity as a self-directed option, under the Choose Myself path configuration, to toggle Include In-Plan Annuity Option to On
To enable the Allianz annuity option as part of a managed account, under the Managed Account Path configuration, toggle Include In-Plan Annuity Option to On

Select the Annuity Index from the drop down
- make sure to check with the Managed Account Provider if you are unsure what Annuity Index you should select .

When a participant enters the iJoin experience they will now see the Protected Income feature. For the self-directed scenario, users will have the ability to choose their own percentage of funding into the annuity. For the managed account scenario, the optimized percentage of money for covering essential expenses throughout retirement is automatically incorported into the managed account program.