AXA Equitable Life Insurance Company recently introduced the Structured Investment Option (SIO) for its EQUI-VEST series of variable deferred annuities available to employer-sponsored retirement plans.

The SIO offers plan participants the growth potential of the equity markets tied to the S&P 500 up to a cap, with downside protection against market losses. AXA Equitable is the first company in the industry to offer this type of investment option in a variable annuity product used to fund 403(b) and 457(b) retirement savings plans.

“The greatest source of individual retirement income for many Americans will likely come from their employers’ retirement benefit plans,” said Mark Scalercio, senior vice president and head of AXA Equitable’s Employer Sponsored division. “We’re very pleased to be the first company to offer plan participants equity growth potential and a certain amount of protection in a variable annuity investment option.”