Home > Blogs > SunGard’s Launch of MyRetirement for Plan Participants Helps Facilitate Differentiation and Growth for Retirement Administrators

SunGard’s Launch of MyRetirement for Plan Participants Helps Facilitate Differentiation and Growth for Retirement Administrators

Submitted by Technology Tools for Today on August 20th, 2013

In response to the growing need for individuals to confidently meet retirement goals, SunGard’s MyRetirement income calculator now gives participants in employer-based, defined contribution plans the ability to determine sustainable spending amounts throughout their retirement years. In addition, the tool helps retirement administrators increase business growth by differentiating their services to plan sponsors while facilitating greater participant engagement and incentive to maximize their retirement contributions.

“With the majority of Americans unprepared to fund their retirement, providers are placing a higher priority on offering retirement readiness support. SunGard’s MyRetirementhelps make retirement planning simple and automated for participants, from pre-retirement accumulation to income adequacy throughout retirement, while helping plan sponsors and providers achieve growth through increased participant contributions and differentiated services.” - Jennifer Valdez, senior vice president & general manager, SunGard’s wealth & retirement administration business

Accessible from SunGard’s Relius Plan Participant web portal, MyRetirement uses data automatically extracted from SunGard’s Relius Administration retirement record keeping system without requiring the participant to input additional information. For participants desiring a more personalized experience, MyRetirement provides the option to add personal data including outside holdings, preferred allocation, custom assumptions such as retirement age, social security benefits, and expected income.

A web-based component of SunGard’s WealthStation Financial Planning, MyRetirement combines probability tools with Monte Carlo analyses to illustrate annual withdrawal rates from multiple model portfolios at different probabilities of success.

About SunGard Financial Systems

SunGard Financial Systems provides mission-critical software and IT services to institutions in virtually every segment of the financial services industry. The primary purpose of these systems is to automate the many detailed processes associated with trading, managing investment portfolios and accounting for investment assets. These solutions address the processing requirements of a broad range of users within financial services, including asset managers, traders, custodians, compliance officers, treasurers, insurers, risk managers, hedge fund managers, plan administrators and clearing agents. In addition, we also provide professional services that focus on application implementation and integration of these solutions and on custom software development.

SunGard, the SunGard logo, Relius and WealthStation are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries.  All other trade names are trademarks or registered trademarks of their respective holders.

Also visit:  SUNGARD IDENTIFIES KEY TRENDS IMPACTING THE RETIREMENT SERVICES INDUSTRY

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