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ALEXANDRIA, Va. — For 87 years, the National Active and Retired Federal Employees Association has carried out its mission to protect and improve the retirement benefits of federal retirees, employees and their families.

So when $120 million NARFE Premier Federal Credit Union started searching for other solutions that could help diversify its 10,000 members’ retirement plans, it was important to have an offering that would allow nest egg savings to be stretched into income distribution over a long period of time, said Todd Hoepker, senior vice president, strategy and market development at NARFE Premier. For one, most of the credit union members participate in the thrift savings plan, a retirement savings and investment plan for federal employees. However, the plan does not have an annuity option, which is something members had been asking about.

“They want that ability to rollover into a high-rate account,” Hoepker said. “The majority of members are middle income. We want to be able give them more opportunities to diversify.”

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