As the industry advances toward scalable retirement income implementation, middleware has become the critical connective layer. By linking recordkeepers, solution providers and plan sponsors, it provides portability, standardization and operational simplicity.
The SS&C infrastructure build-out discussed in our "2024 – Growing Connected Recordkeepers And Retirement Income Solutions" post has continued to accelerate. By the end of 2026, seven recordkeepers will be connected to SS&C’s Retirement Income Clearing & Calculation (RICC) middleware platform, representing more than $6.6 trillion in assets under administration and over 70 million participants1. In addition, by year-end, the RICC platform will support nine retirement income solutions, reaching the scale required to support both the portability and product availability that plan sponsors, advisors and consultants have been seeking.
This scale is translating into continued adoption. RICC data indicates continued growth in plan sponsor implementations, with year-over-year growth of 31.2% to $1.385 billion in AUA. The platform now supports more than 4,100 plan sponsors with assets and nearly 33,000 participants, representing 28.5% year-over-year growth.
For years, the industry faced fragmented systems, bespoke integrations and limited portability, all of which slowed adoption and increased operational and fiduciary complexity. Middleware platforms, like RICC, address these challenges by creating a standardized, one-to-many connection between recordkeepers and retirement income solutions. This foundation enables consistent implementation and allows retirement income solutions to scale across plan sponsors and providers.
Supporting multiple retirement income solutions on a single middleware platform also enhances flexibility and choice. Solution providers can scale efficiently without one-off integrations, while plan sponsors, advisors and consultants benefit from increased access to solutions. This open-architecture approach improves access and supports better outcomes for participants.
The Department of Labor’s Advisory Opinion recently provided further clarity and support for the use of guaranteed retirement income solutions as a qualified default investment alternative (QDIA). We are optimistic that continued legislative and regulatory support for retirement income solutions will pave the way for increased implementation and adoption. Middleware will remain central to that evolution, serving as the connective tissue that enables scale and flexibility, and creates long-term efficiencies.
Interested in learning more? Matthew Wolniewicz of Income America and Ryan Grosdidier of SS&C discuss how industry leaders are navigating the challenges of building secure and sustainable retirement income solutions.
1 Based on Plan Sponsor’s 2025 Recordkeeping Survey data.