Retirement plan providers looking for communication tools they can provide to 401(k) participants will have a new product available from Broadridge Financial Solutions Inc. The new, retirement plan software allows retirement plan providers to create high-impact presentations for their investors. It can create projections of how much a client’s investment could grow over time through the use of charts, illustrations and other variable content—taking into consideration their holdings, age, compensation and deferral rates. The purpose of the tool is to motivate investors to increase participation and deferral rates, and, as proven by one recent mailing that a 401(k) sponsor created using the Broadridge software that boosted participation in the plan from 62% to 69%, it can have very effective results. “We developed this proprietary, [Internet-based] tool that plan providers can use right from their desktops with minimal effort and upfront cost,” said Gerard Scavelli, president of investor communication solutions at Broadridge. This secure, online solution is available as a stand-alone product and is also designed to integrate seamlessly with Broadridge's dynamic on-demand communications system. Broadridge has more than $2 billion in revenues and more than 40 years of experience as a global provider of technology-based outsourcing solutions to the financial services industry.
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