Mayer Brown advised Fidelity Investments on launching Freedom Lifetime Funds, a suite of target date collective investment trusts with a built-in guaranteed income option, which will be available on Fidelity’s recordkeeping platform in early 2027.
The Freedom Lifetime suite will include a strategic allocation to an insurance pool through Nationwide and New York Life—two highly rated insurers with deep expertise in delivering guaranteed income solutions. This exposure will allow participants in 401(k) plans, particularly those nearing and in retirement, to elect to receive a guaranteed lifetime income stream designed to create predictable income throughout retirement.
The Mayer Brown team includes ERISA Fiduciary partner Erin Cho, Employment & Benefits partner Maureen Gorman and counsel Rebecca Davenport, Fund Formation partner Tram Nguyen and associates Stephanie Amador and Lorenz Taets, Insurance associates Juliana Toes and Katie Huffman, Cybersecurity associate Seowoo Kim, and ERISA Litigation partner Rick Nowak in the firm’s Chicago, New York, Northern California, and Washington DC offices.