The Hartford, a provider of defined contribution retirement plans, has enhanced its website for 401(k) plan participants in an effort to provide greater control and track user progress toward meeting individual retirement goals.
The Retirement Access website is available to more than one million participants through more than 28,000 401(k) plans provided by The Hartford. The updates enable participants to set savings and income goals for retirement; track progress toward those goals; integrate their current retirement plan account with other retirement assets; project what their retirement savings may be at retirement or at specific ages; and estimate how contributing more to their 401(k) can impact their savings.
The Hartford says Retirement Tracker is a five-step tool that establishes savings goals based on the desired retirement lifestyle of a given user. The tool takes into consideration other assets the participant may have outside of his employer-sponsored retirement plan and how much risk the user comfortable assuming.
Jennifer Morrell is an editor with Insurance Networking News, a SourceMedia publication.
