Equitable has launched Equitable Retirement Vision, a new platform for Employee Retirement Income Security Act (ERISA) and non-ERISA retirement plans. It offers new features, including a managed account option with professional advice bundled in, a fixed account that guarantees a minimum interest rate to provide some protection from market volatility, and fiduciary support for plan sponsors, including 3(21), 3(38) and 3(16) administrative fiduciary services.
Further, the platform includes a personalized digital retirement wellness program to help plan participants create a path to achieve their financial goals. The open architecture platform provides sponsors a choice from more than 16,000 mutual funds and collective investment trusts (CITs), as well as a self-directed brokerage account. All of this can be accessed from smartphones.
“We know plan sponsors across various sectors and industries want best-in-class, mutual fund-based retirement plan platforms,” says Steve Scanlon, head of group retirement at Equitable. “We also recognize that financial market conditions are driving an increased need for guidance and support among sponsors and their employees. We designed Equitable Retirement Vision with enhanced features and benefits to meet these needs, including customizable strategies, administrative support and participant advice, to help them achieve their goals for their plan and support retirement readiness for employees.”
The platform is aimed at small to medium-sized businesses, as well as K-12, higher education, governmental, health care and not-for-profit sectors.
The fiduciary services are being offered with SWBC Retirement Plan Services, Wilshire and NBS, and the managed account services are via Stadion Money Management.