A news release said the vWise SmartPlan Enterprise participant environment features a brief video overview of 401(k) basics, followed by a discussion of selected features such as auto-enrollment, matching contributions, loans, etc.
Then, using interactive forms, the video hosts guide participants through a short process, including individual retirement needs and risk profile surveys, and selection of investment types and contribution amounts that generates a personalized investor profile, the news release said.
The SmartPlan Enterprise system also includes an administration portal that provides a suite of tools in a menu-driven format.
“We believe interactive video Web sites offer a significant improvement in remote participant communications, and the SmartPlan Enterprise system will be significantly more effective — and efficient — at driving participant behavior than a text-based Web site,” noted Jerry Bramlett, president and CEO of NextStep in the news release.
NextStep, based in the San Francisco area, is an independent provider of recordkeeping and administration services for 401(k) and other defined contribution plans. More information is available at http://www.nextstepdc.com.
More information about vWise is at http://www.vwise.com.