Product & Service Launches

Equitable Debuts TDF Series, Bitcoin-Linked RILA

Equitable Holdings Inc.’s variable annuity portfolio, Structured Capital Strategies, announced what the company calls the first bitcoin-linked index investment option available within a registered index-linked annuity.

The new SCS Premier option is linked to the performance of the iShares Bitcoin Trust Exchange-Traded Fund. It is the first annuity option linked exclusively to the performance of bitcoin without dynamically allocating to equities, cash or other assets. The one-year segment will offer 10%, 15%, 20% and 40% buffers, with allocations generally limited to 25% of the contract value.

Other SCS enhancements include diversified index strategies, a shorter segment duration and an option to capture positive returns during market declines with several new investment options.

Separately, Equitable retirement plans gained access to a new target-date fund series: The Retirement Milestones T. Rowe Price Series is available through Retirement Milestones, a series of collective investment trust solutions maintained in collaboration with strategic investment managers.

The inaugural series is co-manufactured with T. Rowe Price, a global investment management firm, and Benefit Trust Co., which provides trustee and administrative services for CITs, including Equitable’s stable value fund.

The product is available exclusively within Equitable 401(k) and 457(b) retirement plans.

Transamerica Offers Caregiving Support from Empathy

Transamerica Corp. is the first insurance carrier to offer Empathy Project Ltd.’s Caregiving Support to eligible policyholders, beneficiaries and financial professionals.

The benefit, available this fall, offers personalized caregiving guidance to individuals and families managing care decisions, coordinating family responsibilities and accessing recommended services and resources.

Caregiving Support will be available to Transamerica long-term care policyholders, as well as Transamerica Financial Foundation index universal life insurance policyholders in California.

T. Rowe Price Adds 3 Active ETFs

T. Rowe Price Group Inc. added three new equity exchange-traded funds: T. Rowe Price Biotech ETF, T. Rowe Price Small-Cap ETF and T. Rowe Price Mid-Cap Equity Research ETF. All three began trading on the NASDAQ on Thursday.

The T. Rowe Price Biotech ETF seeks long-term capital growth through biotechnology companies and emerging technologies, with an expense ratio of 0.55%.

The T. Rowe Price Small-Cap ETF is designed to provide diversified exposure to the U.S. small-cap equity market, with an expense ratio of 0.59%.

The T. Rowe Price Mid-Cap Equity Research ETF is an actively managed core U.S. mid-cap strategy with an expense ratio of 0.47%.

SS&C Supports Principal Retirement Income Offering

Principal Financial Group selected SS&C Technologies Holdings Inc. to support its retirement income suite. Principal will use SS&C’s Retirement Income Clearing & Calculation platform to help support distribution of its line of proprietary and curated third-party retirement income products.

SS&C RICC is designed to help facilitate interactions between providers and recordkeepers. The collaboration builds on SS&C’s long-term relationship with Principal, including fund services provided by SS&C Global Investor & Distribution Solutions.

By year-end, SS&C RICC is expected to connect seven major recordkeepers representing $6.6 trillion in assets under administration and 70 million participants, according to the announcement.