RetireTrac
The Pension Protection Act was signed into legislation in August, 2006. This landmark legislation drastically alters the Retirement Plan landscape, especially for Fiduciaries. Heretofore, Plan Sponsors/Employers were merely responsible for the administrative oversight regarding their Plan's provisions, with little regard for their employees' ultimate benefits. Now, however, with the spotlight on the Fiduciary Role, the Pension Protection Act requires that Plan Sponsors/Employers be held accountable for providing adequate retirement benefits for their employees.
RetireTrac was developed per the dictates of the Pension Protection Act. This unique Program gives Participants and Fiduciaries an Interactive Process to continually monitor and manage Investment Performance and Asset Allocation to better ensure adequate benefits for Retirement.
RetireTrac generates a Fiduciary Report for the Plan Sponsor/Employer enabling them to monitor:
RetireTrac employs a simple, three-step process to show employees how to realize reasonable Retirement objectives.
First, each employee will have a clear description of a Retirement Income goal and a detailed analysis of his/her current investment strategy.
Next, the Report provides alternative strategies designed to meet that goal, along with specific investment guidance that offers the greatest likelihood of achieving that goal, while minimizing risk.
Finally, this Report illustrates actual account growth compared to Quarterly Benchmarks, which immediately validates the investment guidance.
Participants also receive these value-added benefits:
The Pension Protection Act was signed into legislation in August, 2006. This landmark legislation drastically alters the Retirement Plan landscape, especially for Fiduciaries. Heretofore, Plan Sponsors/Employers were merely responsible for the administrative oversight regarding their Plan's provisions, with little regard for their employees' ultimate benefits. Now, however, with the spotlight on the Fiduciary Role, the Pension Protection Act requires that Plan Sponsors/Employers be held accountable for providing adequate retirement benefits for their employees.
RetireTrac was developed per the dictates of the Pension Protection Act. This unique Program gives Participants and Fiduciaries an Interactive Process to continually monitor and manage Investment Performance and Asset Allocation to better ensure adequate benefits for Retirement.
RetireTrac generates a Fiduciary Report for the Plan Sponsor/Employer enabling them to monitor:
- The Plan's level of participation among employees
- Retirement Income adequacy for each employee
- Quality and Suitability of Participant investments
- Adequacy of Deferrals for each employee
RetireTrac employs a simple, three-step process to show employees how to realize reasonable Retirement objectives.
First, each employee will have a clear description of a Retirement Income goal and a detailed analysis of his/her current investment strategy.
Next, the Report provides alternative strategies designed to meet that goal, along with specific investment guidance that offers the greatest likelihood of achieving that goal, while minimizing risk.
Finally, this Report illustrates actual account growth compared to Quarterly Benchmarks, which immediately validates the investment guidance.
Participants also receive these value-added benefits:
- Daily Account Monitoring
- Success Benchmarks for growth vs. their goals
- Two strategies to close Funding Gaps
- Confidence and Comfort in the Planning Process
401k Team
