Securian said in its announcement that the GoSmart program could offer employers a solution to low plan participation rates.
The primary features of the GoSmart program, according to the announcement, are:
- Step-Up Savings automatically boosts employees’ retirement plan contributions incrementally over time. Once they reach the maximum savings rate, the feature automatically turns off. Employees can set up or cancel Step-Up Savings at any time.
- ExpressInvest tailors employees’ investment selections on their answers to a short questionnaire that identifies their investing style. They can choose one of five pre-mixed portfolios built from the investments offered under the plan. The portfolios are monitored by Securian investment professionals and automatically rebalanced annually. As with Step-Up Savings, employees can set up or cancel ExpressInvest at any time.
For more information, go to www.securian.com/businesses/retirement/retirement.asp .