Now that our SV d-base is up and running, we are already working on the next generation. Not only are we adding more providers to the d-base, we are also creating a ranking scheme to evaluate the various products. The idea is simple – create a comprehensive, yet to easy-to understand way for sponsors to evaluate different products. The approach we take is similar to the approach we use for both our Investment and Plan Health Smartcards™. We look to add our ranking methodology to our SV d-base no later than the Q1 2012 edition.
The other internal database project we have going on, Retirement Income, is well underway. We have created an overview of this fast changing marketplace and a due diligent process to help plan sponsors settle on the right approach to help their plan participants de-accumulate their retirement assets. At BPG, we believe that guaranteed withdrawal benefit (“GWB”) products will become the dominant retirement income product over the next several years although we acknowledge that not all plan sponsors will select this approach. Our retirement income d-base includes other types of products such as in-plan annuity marketplaces and non-guaranteed withdrawal benefit products.
We’re excited to launch this data base as it create comprehensive overview of what is essentially the last major piece of the participant-directed, defined contribution puzzle.