The tool was launched to bolster retirement planning resources and offer personalized support, customized solutions and best practices.
USI Consulting Group (USICG) has launched a new retirement preparedness calculator program for defined contribution (DC) retirement plan participants.
USICG Senior Vice President Chris Martin says the goal of the USI Consulting calculator is to reaffirm the importance of starting early to help employees prepare for retirement. "As employees approach retirement, it's important to start the planning process early," he notes.
According to USICG, the new Retirement Readiness Calculator program will provide access to advanced planning resources, personalized support, customized solutions and financial industry best practices, aimed at meeting the lifetime income needs of retired participants.
USI provides plan advice, counseling and administrative services to retirement plan sponsor clients and participants. USICG says it has worked with 3,800 retirement plan sponsor clients and 450,000 participants with plan assets of $35.5 billion since 1975.
The Retirement Readiness Calculator is available to participants of the USI Direct Solutions program. Participants receive an individual retirement strategy, which includes an assessment of retirement income need, recommended basic expense estimates, and a retirement income plan, using the lifetime income product menu available through Ash Brokerage.
Direct Solutions is USI's bundled DC Services program, which provides investment advisory services, employee communications, and education, administration and compliance services. Retirement planning and counseling services will be provided by Ash Brokerage.