Financial Engines Puts Advice on Retirement Plan Statements

Financial Engines launched Financial Engines Retirement Plan, a personalized statement giving individualized advice to participants about investments, savings, and retirement income.

The Retirement Plan is designed to give 401(k) participants a comprehensive roadmap to address key retirement decisions, the company said.

The statement gives the participant the fund-by-fund changes that Financial Engines plans to make in their account. This section also incorporates information on the participant’s tax-deferred and taxable accounts, according to a news release.

The Retirement Plan also provides advice on how much a participant should be saving for retirement and what an increase in savings could mean in terms of increased employer match. The advice considers total portfolio savings, including savings to Roth 401(k), as well as contributions to IRAs and other tax-deferred accounts.

The statement includes a personalized forecast that provides a realistic view of how much a participant’s portfolio might be worth at retirement and the likelihood that the participant will achieve their retirement goal. The Retirement Income section also covers how much a participant’s investments, Social Security, and other pension sources could produce in terms of annual income, and if a participant is not on track to achieve their goals, they are reminded that they have access to a licensed investment adviser representative who can work with them to help improve their outlook.

“Investors are emerging from the initial shock felt after the market declines of 2008 and want to know where they stand and what they need to do to achieve their retirement goals,” said Ken Fine, executive vice president of Marketing, Financial Engines, in the release. “Through the Retirement Plan we address the key decisions 401(k) investors face and help them navigate their way to a more secure retirement.”

The company said The Retirement Plan was inspired by features currently available in its online advice service.

More information is available at