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Bells & Whistles | Published in August 2012

Bells & Whistles

Each month, Bells & Whistles highlights recent product introductions that plan sponsors may find of interest.

By PLANSPONSOR staff | August 2012
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Illustration by Janna Morton

More information about these announcements can be found on www.plansponsor.com. If you have a product announcement that you believe would be of interest to our readers, drop us a line at news@plansponsor.com.

PLATFORM ENHANCEMENTS 

The Hartford has introduced a tool that permits retirement plan participants to set savings and income goals, track their progress and integrate other financial sources. The Hartford’s Retirement Access website has added a number of customizable tools, including the five-step My Retirement Tracker, making it easier for participants to manage their retirement savings accounts and set goals based on their desired lifestyle in retirement.

Mercer has launched a website featuring resources about pension risk, benefit choices and talent management. “Inside Employers’ Minds: Confronting Critical Workforce Challenges” will allow employers to better manage risks related to growing pension liabilities and the potential impact on corporate financial performance; enable employees to make better choices as they take greater accountability for retirement and health benefit decisions; and find new ways to build agile, world-class work forces that are ready and able to respond to evolving business needs and new opportunities.

The Guardian Insurance & Annuity Company Inc. (GIAC) unveiled a website to help plan sponsors and plan participants navigate the 401(k) marketplace. “Understanding Plan Fees” provides information and tools to assist plan participants and plan sponsors in understanding their retirement plan fees, the services they pay for and the value the different service providers bring to the table.

J.P. Morgan Retirement Plan Services launched a mobile application for 401(k) plan participants, which allows users to access key account information, including the estimated annual income the individual is set to receive in retirement. The app also includes a “quick enroll” feature, enabling nonparticipants to enroll in their employer-sponsored retirement plan with their date of birth, last five digits of their Social Security number and zip code.

Broadridge Financial Solutions is offering a turnkey solution to help its clients meet the U.S. Department of Labor (DOL) 408(b)(2) fee disclosure reporting requirements. The solution comes to market through a strategic alliance between Broadridge and Castle Rock Innovations LLC. The offering is designed to service all retirement plan types through a single Web-based platform and data repository. The solution can be customized to meet specific client needs.

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