Products August 23, 2005
Firm Unveils Retirement Planning Program
August 23, 2005 (PLANSPONSOR.com) - A financial
planning firm has released a new retirement readiness Web
application.
Reported by Fred Schneyer
A news release from CompassRetirement.com said that the product offers:
- annual updates that recognize changes to IRS/Social Security limits, laws and retirement plan structures,
- educational material via the Web site, and
- the monthly CompassClub newsletter with tips, ideas, resources and guidance.
To determine a user’s optimum savings path, the program first asks for annual salary, future pay hikes, current age, years of service, personal annual plan contribution, current account balance and planned retirement age.
The program also uses recommended defaults of:
- Pre-age 65 assumed investment return – 8%
- Post-age 65 assumed investment return – 6%
- Annual plan fees and expenses – 2.25%
- Life expectancy at age 65 – 23 years
Users can order Compass here .