Diversified Unveils 'De-cumulation' Lifetime Income Offering

May 31, 2006 (PLANSPONSOR.com) - Diversified Investment Advisors in Purchase, New York, has introduced its new Lifetime Income Fund, a "de-cumulation" retirement plan that allows investors with a Diversified IRA to use money from that account for lifetime monthly benefit payments.

Transamerica Financial Life Insurance Company, a company affiliated with Diversified, offers the fund under a group annuity contract.

Investors can also put as much as 50% of their IRA assets in the fund, according to the news release.

The fund keeps investors up-to-date on their finances by reporting all of their fund activities, as well as their beginning balance, monthly payments and ending balance, on their quarterly IRA statement, according to the news release.

Also, when investors die, their beneficiaries receive the fund’s remaining balances. Investors can also change the amount of their benefit payments at any time.