401k Toolbox Announces Adviser Planning Product

401k Toolbox, a Watkinsville, Georgia-based advice provider, has unveiled its On Track retirement planner and prospecting tool for plan advisers.

401k Toolbox’s advice program for participants is delivered by financial representatives in one-on-one, brief meetings using proprietary Web-based “On Track” retirement planner software, the company said in a news announcement.

A short analysis is done during the meeting that shows employees what their retirement income will look like based on their current savings, their current deferral, and time left until retirement.

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When the employee is not on track, the adviser can offer suggestions to improve the retirement outcome, to include, according to the announcement:

  • changing the asset allocation of the portfolios;
  • increasing the amount deferred;
  • postponing the age of retirement in order to save more, increase the social security benefit, and maintain health benefits with the current employer;
  • looking at what it is likely to cost to live in retirement; and
  • integrating additional assets into retirement calculations, along with the 401(k) assets to provide a true picture of their financial security.

More information is at https://www.401ktoolbox.com/toolbox/home.jsp

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