SAN FRANCISCO--(BUSINESS WIRE)--Micruity Inc. (“Micruity” or “the Company”) announced today the appointment of Elizabeth Heffernan as Head of Partnerships and Consulting Strategy. A senior leader with extensive experience in operationalizing retirement income products, Elizabeth will work closely with Micruity platform partners to optimize their product design for the data-connectivity of the Micruity annuity ecosystem.
“My focus is on building real-life income pathways for Americans in retirement. Participants approaching, transitioning and living in retirement may have had several jobs and lots of goals over their lifetime, with different savings strategies and benefit plans. The connectivity enabled across the income ecosystem by the Micruity platform means that we can support a variety of products that will help Americans utilize retirement income products that insure they won’t outlive their hard earned savings,” said Elizabeth Heffernan, Head of Partnership and Consulting Strategy, Micruity.
Elizabeth spent 24 years at Fidelity Investments in a variety of roles including marketing, sales and product, most recently working Investment Strategies. She also spent two years with Hueler Companies as the Managing Director of Business Development. Elizabeth has spent the last 14 years working closely with asset managers and insurers on the design and connectivity of income products to the record keeping system, including significant work with Plan Sponsors and Participants to understand their goals and objectives in the Retirement Income space.
“Elizabeth’s experience with the defined contribution income space make her uniquely qualified to accelerate the commercialization of the Micruity platform as an enabler for annuity products,” said Trevor Gary, Founder and CEO of Micruity. “Connecting all the stakeholders in the ecosystem will enable the next generation of income products that will fill the $28 trillion gap left by the decline of defined benefit pension plans,” Trevor added.
The retirement savings gap is expected to reach $137 trillion by 2050, threatening the retirement security of millions of Americans who risk outliving their own savings or delaying retirement because of a market downturn. Simplifying access to annuities as part of 401(k) retirement plans will help de-risk retirement savings and income planning strategies.
“I am excited to help Micruity deliver on the opportunity to connect Defined Contribution stakeholders in a way that lets them focus on their core strengths on behalf of hard working participants. Insurers and asset managers are developing products that can deliver better outcomes for participants, record keepers have outstanding connections with those participants and Micruity can connect the critical data elements between the two that will ensure a world class participant experience,” Elizabeth said.
Elizabeth Heffernan is an active member of the Defined Contribution Institutional Investment Association (DCIIA) and is currently serving as Chair of the Retirement Income committee.
About Micruity
Micruity is a financial technology infrastructure company on a mission to improve retirement income security. The Micruity Advanced Routing System (MARS™) facilitates frictionless data sharing between insurers, asset managers, and record keepers through a single point of service that lowers the administrative burden for plan sponsors and enables them to turn retirement savings plans into retirement income plans at scale.
To learn more about how Micruity is transforming the retirement planning landscape, visit www.micruity.com.
