July 12, 2012 (PLANSPONSOR.com) – A new tool launched by The Hartford 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—to make it easier for participants to manage their retirement savings accounts and set goals based on their desired lifestyle in retirement. My Retirement Tracker allows the more than one million 401(k) participants that The Hartford serves in over 28,000 plans to:
- Set savings and income goals for retirement,
- Track progress towards these goals,
- Integrate their current retirement plan with other retirement assets they may have,
- Project retirement savings at specific ages, and
- Estimate how contributing more to their 401(k) can impact their savings.
“It is critical for 401(k) plan participants to set savings and income goals as part of their retirement planning process and then monitor their progress toward these milestones,” said Sharon Ritchey, executive vice president of The Hartford’s Retirement Plans Group. “Our new tools help participants become more engaged in the retirement planning process and take greater control over their financial future.”