Fiduciary Benchmarks Introduces Plan Design Optimizer

The company said the service was designed for recordkeepers, third-party administrators (TPAs), broker/dealers, and advisers. It takes into account an individual’s age, compensation, deferral rate, investing behavior, social security entitlements, and any supplemental savings or retirement income. The result is a customized plan design solution that Fiduciary Benchmarks says can significantly improve retirement readiness for an employer’s entire workforce, while staying within that employer’s given budget.  

The service uses the last discrimination test performed for the plan to obtain compensation and deferral information for eligible employees along with the latest investment holdings of each employee and a short questionnaire that reflects the company’s specific attitudes about retirement savings and investing. This allows not only a detailed calculation of their expected retirement readiness, but also a detailed analysis of certain investing behaviors that have been academically proven to increase return and/or reduce volatility.