Newport Group Aims to Help Participants with Retirement Income Planning

“My Forecast” can be found onplandestination.com, where employees can view a graphic illustration of the difference between their retirement income goal and how much their expected income will be, based on their current savings.

“What makes ‘My Forecast’ unique is that the participant’s retirement needs become the focal point of the Web site,” notes Eric Brickman, Newport Senior Vice President of Strategic Solutions. “Every time they log on, participants can easily see their income replacement ratio—the percentage of income they need to maintain the same standard of living in retirement. That way, if they are falling short of their goals, they’ll see it immediately and can adjust their contributions and investments accordingly.”

The feature also gives users the ability to further personalize their assumptions so they can make informed decisions on how to adjust their goals, strategies or both. Users can add other plans, accounts, and assets to their calculations.