Until now, this service has not been available to participants in tax-deferred annuity 403(b) and governmental deferred-compensation 457 plans. The plans are similar to 401(k) plans, but cover employees in the public sector, as well as those who work for tax-exempt organizations, healthcare facilities and educational institutions.
In addition to establishing investment and savings goals, the service provides specific investment advice, including the ability to access the recommendations during the enrollment process.
Participants are reminded to contact ING Aetna Financial Services if they wish to speak to a representative for further financial planning assistance.
Retirement gap analysis, which identifies shortfalls in a client’s goals and strategies, is also included in the service, as is access to mPower’s “Get Smart” Web pages, which offer:
- the basics of retirement investing
- daily market commentary
- a more advanced course in financial economics
mPower currently provides personalized retirement plan advice online to more than 60 plan sponsors representing 220,000 participants, including 12 plan sponsors who participate in ING Aetna Financial Services 401(k) plan services.