New Personalized ‘Manage My Retirement’ Service Now Available From MassMutual and NextCapital to Help Deliver Better Retirement Outcomes
The new service, called Manage My Retirement, is a professionally managed account service through
The services are available for 401(k), 403(b) and 457 plans and can be customized with a specific plan’s available investment options.
“Given the events of the last few months and the uncertain time we find ourselves in, personalization of retirement savings based on an individual’s broader goals is important now more than ever,” said
NextCapital’s Manage My Retirement ‘advice engine’ builds a personalized retirement plan and portfolio for each participant, using up to 30 specific data points, including retirement age, savings rate, gender, marital status, health, salary risk, guaranteed income, and funding gap, among others. These data points are used to create a personalized investment portfolio, which is monitored and automatically adjusted as circumstances change. Manage My Retirement also gives each participant a personalized retirement plan, which includes start date and savings recommendations, as well as retirement income forecasts.
“The
Manage My Retirement will also focus on the needs of advisory firms and plan advisers. By leveraging NextCapital’s flexible technology, MassMutual can provide customized solutions for different firms. These firms can include their own investment selections, choose varying levels of advisory interaction, and choose their fiduciary role. They can even collaborate with MassMutual and NextCapital to adjust advice methodology inputs, like capital market assumptions.
NextCapital is not an affiliate or subsidiary of MassMutual or its affiliates or subsidiaries.
About MassMutual
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit www.massmutual.com.
About NextCapital
NextCapital is the leader in enterprise digital advice®. NextCapital partners with world-class institutions to deliver personalized planning and managed accounts to individual investors across multiple channels, including 401(k), IRA, and taxable brokerage accounts. NextCapital’s open-architecture digital advice solution provides integrated account aggregation, analytics, planning and portfolio management, and allows partners to customize advice methodology and fiduciary roles.
“NextCapital” is a brand name representing
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