SunGard Unveils a Tool for Safe Spending

SunGard’s MyRetirement income calculator now gives defined contribution plan participants the ability to determine sustainable spending amounts throughout retirement.

Accessible from SunGard’s Relius Plan Participant web portal, MyRetirement uses data automatically extracted from SunGard’s Relius Administration retirement recordkeeping system without requiring the participant to input additional information. For participants desiring a more personalized experience, MyRetirement provides the option to add personal data including outside holdings, preferred allocation, custom assumptions such as retirement age, Social Security benefits, and expected income.

A web-based component of SunGard’s WealthStation Financial Planning, MyRetirement combines probability tools with Monte Carlo analyses to illustrate annual withdrawal rates from multiple model portfolios at different probabilities of success.

“With the majority of Americans unprepared to fund their retirement, providers are placing a higher priority on offering retirement readiness support. SunGard’s MyRetirement helps make retirement planning simple and automated for participants, from pre-retirement accumulation to income adequacy throughout retirement, while helping plan sponsors and providers achieve growth through increased participant contributions and differentiated services,” said Jennifer Valdez, senior vice president and general manager, SunGard’s wealth and retirement administration business.

More information is here.