NTRC, Financial Engines Give Participants the Big Picture

October 22, 2001(PLANSPONSOR.com) - Plan sponsors working with Northern Trust Retirement Consulting (NTRC) and Financial Engines can now offer their participants an advice service that includes data from both defined contribution and defined benefit retirement plans.

NTRC and Financial Engines have developed a system that allows participants to integrate a defined benefit plan estimate, calculated by NTRC, based on their:

  • income growth rate
  • retirement age
  • and benefit start age

While Financial Engines already considers the entire household portfolio when making investment recommendations, integrating defined benefit data adds another component to helping employees get a realistic picture of the likelihood of reaching their financial goals.

This new application was initially rolled out to Motorola plan participants early in October