401(k) Specialist Issue 1 - 2023 - 41

401(k) PRODUCT WATCH
Shlomo Benartzi's Pension Plus to be
Offered by OneAmerica
THE FIRST retirement plan provider to offer Shlomo Benartzi's firstof-its-kind
PensionPlus retirement withdrawal strategy solution will be
OneAmerica.
PensionPlus is a personalized retirement withdrawal/decumulation
strategy developed by Benartzi that provides participants with a monthly
retirement paycheck tailored to the individual, based on their unique
goals and needs in retirement. In addition, users maintain complete
control over their plan assets and how they're invested. OneAmerica will
offer access to PensionPlus to participants approaching retirement.
Sandy McCarthy, president of Retirement Services for OneAmerica,
said PensionPlus was a natural fit for the company which strives to highlight
the importance of holistic financial wellness for participants.
" As an industry, we've spent a lot of energy educating retirement plan
participants about market risk, asset allocation and the importance of
beginning deferrals early, " McCarthy said. " These are, of course, critical
elements. But there's more that's needed to help individuals establish
peace-of-mind about their financial security-and that includes a discussion
about the importance of decumulation. "
Benartzi, a behavioral economist known for his research on retirement
savings, explained that this first-of-its-kind solution incorporates a variety
of behavioral insights and digital nudges not considered by more traditional
retirement income projections.
" As people accumulate assets, they also accumulate differences, "
said Benartzi. " This means that personalization is an essential part
of retirement income planning. PensionPlus makes it extremely easy
for every American to create a sustainable retirement paycheck that
fits who they are and what they want. Our mission is to
overserve the underserved and give all retirees the peace
of mind they deserve. "
ONLINE
EXTRA
FeeMetri(k)s Simplifies Rollover
Recommendation Process
JOSH ITZOE has announced the launch
and immediate availability of FeeMetri(k)s,
a consistent process to analyze, document,
and disclose rollover recommendations
across practices.
Itzoe is the founder & CEO of FiduciaryWor(k)s
and the creator of FiduciaryRx
a web-based tool to help retirement plan
advisors diagnose, prescribe and improve
fiduciary wellness for corporate retirement
plans.
Itzoe says the tool was initially created
to comply with the Department of Labor's
PTE-2020-02 requirement, after a friend and advisor expressed a need for
a better, efficient process.
" He was spending far too much time using a fillable PDF his compliance
attorney created for him and was struggling with analyzing plan
costs via a manual spreadsheet. After seeing his process, I told him I was
up for the challenge and I could streamline
and automate it for him, " Itzoe said. " Shortly
afterward, my development team and I went
to work building a solution. "
Today, FeeMetri(k)s allows wealth advisors
and/or retirement advisors to automate their
workflow, document and disclose recommendations,
create education-only disclosures in
under 60 seconds, analyze plan costs using
integrated Form 5500 and fee benchmarking
data, and create model portfolios and custom
fee schedules to save time and automatically
create fee comparisons. The tool also reviews
rollover recommendations across each advisor in a firm and creates
long-term fee projections to visualize value to prospects and close more
business.
Advisors interested can go to www.feemetriks.com to book a 15-minute
demo and a seven-day free trial.
ISSUE 1 2023 | 401kSpecialist.com
41
© Pixelrobot | Dreamstime.com
© Ivelinr | Dreamstime.com
http://www.Dreamstime.com http://www.Dreamstime.com http://www.feemetriks.com http://www.401kSpecialist.com
401(k) Specialist Issue 1 - 2023

Table of Contents for the Digital Edition of 401(k) Specialist Issue 1 - 2023
