A Newkirk news release said the services include targeted participant communications identifying possible shortfalls in retirement income that also suggest corrective steps, sponsor reports identifying shortfalls on a participant-by-participant basis, and tools enabling providers and sponsors to analyze deficiencies by demographic segments.
For example, a Security Report suggests changes not only to a participant’s deferral amounts but also to asset allocations where a shortfall in anticipated retirement income is projected.
“Our expanded gap analysis services are intended to, first, make sponsors aware of themagnitude of the problem among their participants and, second, communicate the nature of the problem to those participants with a shortfall,” said Pete Newkirk, Newkirk president, in the news release.
More information about the offering is available here.
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