Mercer Adds to Benefits Platform

June 28, 2011 (PLANSPONSOR.com) - Mercer's Outsourcing business has announced the addition of three new services to its benefits administration platform. 

A recent press release listed the new services as Financial Engines’ Income+ solution, HelloWallet’s financial planning and budgeting solution, and TD Ameritrade’s self-directed brokerage account solution. These features will be integrated into Mercer’s online participant experience and accessible through plan Web sites. 

An extension of Financial Engines’ professional management/managed account services (See Financial Engines Expands Solutions With Income+), Income+ helps participants with the retirement spend-down phase by providing steady monthly payouts with purchase of out-of-plan annuity, offering an alternative to an in-plan annuity as it works with the plan’s existing investment options, and providing professional allocation advice for the payout phase.  

HelloWallet is an online resource that encourages employees to improve their overall household finances by “finding the money” to boost their contributions to retirement savings and reduce debt. It helps users to create budgets, set savings goals, aggregate financial account data and monitor their spending habits.  

TD Ameritrade’s self-directed brokerage accounts provides participants on Mercer’s platform access to a broad range of investment choices including stocks, ETFs mutual funds and fixed income products, as well as independent research, market analysis and investment screening capabilities.  

“More and more, our clients are looking for us to help them empower their employees to live, work and retire well,” said Dave Tolve, Retirement Business Leader for Mercer’s US Outsourcing business, in the press release. “By utilizing these cutting-edge products and services as part of their overall benefits experience, participants can feel more confident, capable and in control of their financial future and wellbeing, which leads to plan sponsors having a more engaged workforce.” 

  

Sara Kelly 

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