Savings are directly deposited from employees’ paychecks into a checking account, and employers can incentivize employees by offering a high annual percentage yield for a certain amount saved.
The automated service is for accounts that have $5,000 or less.
The firm says it gives sponsors a way to document the fiduciary oversight process and provides assurances to senior management and boards that the plan is being managed...
The new service uses machine learning to provide employees with guidance that can help build short-term financial resiliency while also considering long-term financial goals.
FUTUREADY401K features a professionally managed investment lineup and lets sponsors know how many employees are on track to reach their financial goals.
Users can take actions that move them along a path towards their financial goals.
The personalization includes the integration of other elements of a participant’s financial picture.
A diagnostic tool helps employers understand employee financial stressors and work with UBS to customize financial wellness programs.
John James, with Vanguard, says the retirement plan industry is ripe for disruption in delivery and personalization.
The service assumes a multitude of key plan administrative responsibilities.
Embedded in TDFs, an annuity product that provides lifetime income and growth and can be traded every day just like mutual funds is coming to market by the...
The firm is also launching an online experience to deliver personalized recommendations to participants.