To help individuals better prepare for retirement, Noble-Davis Consulting and Alliance Benefit Group of Michigan, Inc. have gone live on SunGard’s WealthStation MyRetirement income analysis tool. WealthStation MyRetirement helps these retirement administrators engage participants in employer-sponsored retirement savings plans and enhance their services for plan sponsors.
Accessible from SunGard’s Relius Plan Participant Web Portal, MyRetirement for Plan Participants provides participants with a simple, automated retirement planning tool that uses their 401(k) data contained within SunGard’s Relius Administration retirement record keeping system to determine sustainable spending amounts throughout their retirement years.
“We’re very focused on retirement readiness support, so SunGard’s WealthStation MyRetirement is a welcome addition to our service offerings. MyRetirement provides the interaction participants are seeking when they log in to the web portal to view their retirement balances. We’ve received a positive response from plan sponsors, investment advisors and participants, who see it as a unique, helpful tool.” – Jan Davis, president of Noble-Davis Consulting
“We believe that while accumulating assets is a basic requirement to attaining a secure retirement, the spending down period is generally overlooked during the pre-retirement years. For most participants, understanding retirement savings and sustainable withdrawal amounts is not addressed until it is too late to change their saving behavior. But with SunGard’s WealthStation MyRetirement, we have the opportunity to help participants gain this understanding earlier on when it can make a real impact. MyRetirement provides a meaningful assessment of participants’ retirement readiness and offers opportunities and incentives to improve their retirement security.” – Carol Tracey, principal, Alliance Benefit Group of Michigan, Inc.