American Express Adds New Tool to Web Site

The Retirement Guidance Planner is pre-populated with each plan’s investment option data and allows participants to experiment with the assumptions in their retirement income decisions.

The tool automatically calculates and graph retirement income goals and can save data for future planning sessions.

Calculating Minds

In addition, participants can access the American Express’ Retirement Income Calculator, which enables them to:

• assess current savings strategy and assumptions in line with their retirement goals,
• see the affect of rate of return and age at retirement on savings,
• model different savings strategies, and
• develop new income strategies based on the calculator results.

Plan sponsors can add the Retirement Guidance Planner to their existing set of services as an additional tool to help educate participants on goal setting and asset allocation. Cost for the service is based on the number of participants and plan complexity.