Financial Engines Launches Retirement Checkup Service

June 22, 2009 ( - Financial Engines has introduced the Retirement Checkup, a phone consultation with a Financial Engines adviser focused on helping near-retirees update their plans for retirement savings.

According to a press release, t he service was designed in light of the recent market downturn to help participants understand where they stand with their investments, savings and retirement income plans , and help make the needed changes to recover from 2008.    Early results show that by having a Retirement Checkup, 73% of participants update their retirement plan, and the median retirement income forecast increased by 20% for Checkup recipients who have been in managed accounts long enough to receive an initial forecast.

The Financial Engines Retirement Checkup is targeted to participants age 50 and older who have their portfolios managed by Financial Engines.    Financial Engines advise rs work with near-retirees to complete their retirement picture by reviewing all   sources of savings, all investment accounts, as well as additional sources of income earmarked for retirement, the announcement said .

With this total-portfolio view, the advis e r helps the participant adjust  his or her retirement strategy by explaining different investment and savings strategies and retirement income goals.   The advise r then implements any resulting investment changes andsends the participant an updated Financial Engines Retirement Plan reflecting the new strategy.

The Retirement Checkup will be available at no extra charge to participants who have their accounts professionally managed by Financial Engines and will be broadly deployed in July 2009.     

More information is at .