In this episode of The Wave Strength, Pacific Life’s Christine Bass and Brian Galle sit down with Andrew Stumacher from AllianceBernstein to unpack 13 years of evolution in defined contribution lifetime income—and how a multi-insurer, institutionally priced solution is helping increase retirement confidence for participants.
Together they explore how Pacific Life and AllianceBernstein are collaborating to deliver guaranteed lifetime income, help preserve liquidity and offer flexibility, and help participants convert savings into sustainable retirement income for years to come.
In this conversation, you’ll learn:
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Timestamps:
00:00 – Introduction
00:55 – Meet the Panel: Guest Introductions
02:55 – The History of Alliance Bernstein’s Product
04:56 – Evolution of Lifetime Income Solutions
06:40 – Pacific Life & Alliance Bernstein: Partnership for Retirement Confidence
09:16 – Market Changes & Regulatory Updates (SECURE 2.0, DOL Opinion)
12:06 – How the Solution Works: Flexibility, Growth, and Guarantees
15:01 – What Advisors, Plan Sponsors, and Participants Want
18:37 – Impact & Adoption: Success Stories and Metrics
25:31 – The Importance of the DOL Opinion Letter
28:40 – Final Takeaways from Each Guest
30:01 – Closing Remarks & Outro
As Head of Defined Contribution Lifetime Income, Christine is responsible for growing Pacific Life’s visibility in the lifetime income space. Prior to her current appointment, Christine was Head of Specialty Markets where she was responsible for the Institutional Fixed Annuity business. Christine joined Pacific Life in 2022 and has nearly 20 years of experience, across life, annuity, and institutional products in U.S. and international markets.
Brian Galle is a Senior Product Manager at Pacific Life, leading the integration of Lifetime Income solutions into Defined Contribution retirement plans. With over two decades of experience in product management and institutional retirement, Brian drives cross-functional teams to deliver innovative, market-ready solutions that enhance participant outcomes and operational efficiency. His strategic leadership has accelerated Pacific Life’s growth in the DCLI space.
Andrew Stumacher is a Senior Vice President and Managing Director for AB's Customized Defined Contribution Solutions. He is responsible for developing, implementing, and driving the growth of custom target-date, model portfolio, and retirement income strategies for the large and mega-size institutional plan market, in which AB serves as one of the largest managers in the U.S. Stumacher works in close collaboration with plan sponsors, consultants. and external business partners to develop innovative and flexible products to improve outcomes for DC plans and participants. He joined the firm in 2004 as a marketing analyst, focusing on strategy and development for new institutional products. From 2011 to 2017, Stumacher managed the integration of AB's DC products with recordkeepers, trustees, custodians, insurers, and investment managers as the DC partner relationship officer. He holds a BS in applied economics and management from Cornell University and an MBA from Wagner College as well as the Certified Annuity Specialist™ designation from the Institute of Business & Finance.
