In addition to showing the retirement savings gap (if there is one), the Securian Annual 401(k) Checkup also calculates the gap in monthly retirement income: It compares the estimated monthly income needed after retirement with the estimated monthly income generated by current savings at a hypothetical rate of return.
In addition, the Annual Checkup offers tips for building retirement plan savings (including postponing retirement) and directs employees to a calculator where they can further refine their retirement savings goals.
The Securian Annual 401(k) Checkup is a value-added feature available on all full-service Securian Retirement plans at no additional cost, according to the firm.
Securian Retirement, a unit of Securian Financial Group, Inc., serves more than 3,200 retirement plans.
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