With Morningstar Retirement Manager, participants receive a personalized retirement strategy, including a retirement income goal assessment, recommended savings rate, and construction of an appropriate portfolio strategy based on individual goals.
According to an announcement, participants who enroll in the managed account service also receive professional asset management, ongoing account monitoring and quarterly progress reports to help them track their advancement toward their retirement savings goals.
The fee-based discretionary account management service option is in addition to plan investment lineup selections and a free participant investment advice option offered to ING clients. Managed accounts may be used as a qualified default investment alternative (QDIA).
“Plan sponsors and their fiduciary advisers increasingly seek services like Retirement Manager that can give participants the added confidence they need in their investment decisions to help them remain invested,” said Rick Mason, president, ING Retirement Services Market Segments, in the announcement.
For more information about Morningstar, visit http://www.morningstar.com.