A MetLife news release said the Morningstar service includes a package that combines research, education and investment guidance. The service will help participants choose the proper mix of investments at the sub-asset-class level to enable them to invest their savings based on their needs and goals, using a bear market simulator to test their risk tolerance.
Available to MetLife plans with more than $3 million in assets, the Morningstar service will offer participants a personalized, goals-based approach to retirement planning that takes into account an individual’s entire portfolio, including non-retirement assets.
“Many workers are still unsure of how to create a well-diversified retirement plan. Many people simply don’t know how to construct the appropriate mix of investments within their 401(k) plans,” said Bill Slater, vice president, MetLife Retirement & Savings, in the news release. “With Morningstar, these individuals will have easy access to investment guidance at their fingertips.”