NextCapital
  • Blog
  • Resources
  • Press
  • Careers
  • Get Started >

Blog

Harnessing technology for a personalized retirement income strategy

5/2/2022

 
​At retirement, 401(k) plan participants typically are on their own to manage retirement income and develop a sustainable withdrawal strategy. But change is on the horizon with the development of in-plan personalized retirement income solutions powered by technology. Recent legislative changes and technological advancements are evolving the 401(k) from a savings vehicle to a retirement income plan. 
“Retirement income solutions have the power to elevate defined contribution plans from a pure accumulation focus to a dynamic tool for maintaining a standard of living over the long term,” said NextCapital CEO John Patterson. “At NextCapital, we’ve developed a managed account solution that allows an investor to visualize a personalized portfolio withdrawal strategy that will regularly update to reflect changes in the markets. Partnering with financial services firms, we’re going a step further to enable participants to explore how purchasing an annuity for a portion of their savings might translate to a paycheck in retirement. Investors could then take action directly from the platform.”

The demand for stable retirement income is robust. Nearly 96% of plan sponsors surveyed by BlackRock in 2021 said they feel responsible for supporting participants in managing their retirement income, and 90% of participants indicated interest in products designed to create an income stream in retirement.

Researchers believe that the number of plan sponsors using managed accounts will continue to grow as more of them focus on providing retirement income solutions for their participants, according to Cerulli Associates’ U.S. Retirement Markets 2021 report.
Picture

Comments are closed.

    Archives

    May 2022
    February 2022
    November 2021
    September 2021
    August 2021
    March 2020
    January 2020
    November 2019
    August 2019

    Categories

    All
    Announcements
    Fintech

    RSS Feed

Contact Us
​Sales

sales@nextcapital.com
Media
marketing@nextcapital.com
​
Support
support@nextcapital.com
LinkedIn logo
Location
104 S. Michigan Ave, Suite 1400
Chicago, IL 60603
Blog
​
Resources
Press
About Us
Team
​Careers
Platform
User Experience
​
Advice
​
Integrations
​
Channels
Security
Terms of Service
Privacy
Form CRS
© 2022 NextCapital Group, Inc. All rights reserved.
​
​NextCapital Software, Inc., and NextCapital Advisers, Inc., are wholly owned subsidiaries of NextCapital Group, Inc. NextCapital Advisers is registered with the SEC as an investment adviser. When you use this website, you accept our Terms of Service and Privacy Policy. NextCapital does not guarantee results. All investments involve risk and may result in loss. Past performance does not guarantee future results. Historic returns, projected returns, and probability of investment outcomes may not reflect actual future results.
  • Blog
  • Resources
  • Press
  • Careers
  • Get Started >