Securian's Annual 401(k) Checkup Helps Employees Keep Pace With Retirement
Savings Goals
ST. PAUL, Minn., Nov. 12 /PRNewswire/ -- When we get serious about saving
for retirement, we do some quick calculations and come up with The Number --
the amount we think we need to save to provide enough income to last
throughout retirement. As time goes by, that number may fluctuate and it
becomes difficult to know whether retirement savings are on track.
People enrolled in Securian Retirement 401(k) plans can track their
savings progress on their plan statements. Once a year, in clear language with
simple graphics, the Annual Checkup provides retirement plan participants with
an estimate of how close their current savings rate will bring them to The
Number.
"It's like a road map for retirement," said Jo Dahlen, director,
Retirement Marketing. "The Annual Checkup gives employees an idea of where
they are with their retirement savings and helps them decide whether to make
changes to their current allocation strategy."
In addition to showing the retirement savings gap (if there is one), the
Securian Annual 401(k) Checkup also calculates the gap in monthly retirement
income: It compares the estimated monthly income needed after retirement with
the estimated monthly income generated by current savings at a hypothetical
rate of return.
In addition, the Annual Checkup offers tips for building retirement plan
savings (including postponing retirement) and directs employees to a
calculator where they can further refine their retirement savings goals.
"None of us can predict the future, and it's difficult to know exactly how
much we will need for a financially secure retirement," said Dahlen. "But,
like a compass that points us in the right direction, Securian's Annual 401(k)
Checkup will show retirement plan participants how to keep their savings on
track."
The Securian Annual 401(k) Checkup is a value-added feature available on
all full-service Securian Retirement plans at no additional cost.
Securian Retirement, a unit of Securian Financial Group has more than 70
years in the retirement market and serves more than 3,200 retirement plans
with $10 billion in assets as of June 30, 2008. Annuities and retirement plans
are underwritten by Minnesota Life Insurance Co., one of the most highly-rated
life insurers in America.
SOURCE Securian Financial Group
Maggie Jensen, APR, of Securian Financial Group, +1-651-665-7558
