Fidelity Releases Retirement Transition Services

The new offering is intended to help both employers and their pre-retiree employees navigate the complex health and wealth decisions people face as they transition into retirement, such as how to create lasting retirement income, claim Social Security, and find and pay for quality health care coverage.

“Employers tell us they want to help preretirees understand how to both convert their savings into lasting income and secure quality health coverage in retirement,” said Chris Herman, senior vice president of Fidelity’s Workplace Marketing, Solutions and Experience Group, based in Boston. “In response, we developed Retirement Transition Services to assist people through these crucial decisions and help them create a plan to live more securely throughout the next phase of their life.”

Help is made available to employees over the phone, through live consultations with representatives at the workplace, at investor centers nationwide, and through educational workshops and on-demand webinars.

Fidelity also offers related tools such as the Retirement Income Planner—to help participants approaching retirement develop a plan and analyze income, expenses and assets to help identify steps they can take to best prepare—and the Income Strategy Evaluator, which helps customers identify a strategy that may meet their income needs in retirement. In addition, the guidance also helps employees determine the impact Social Security will have on their monthly income, including what age they would like to begin collecting payments.

Retirement Transition Services is part of Plan for Life, Fidelity’s workplace guidance experience, which offers education on topics such as creating a retirement income plan and health care costs.

Fidelity Investments is a provider of financial services.