J.P. Morgan Asset Management has launched a new communications program designed to deliver a simplified explanation of its SmartRetirement series of target date funds. The new program will feature animation, infographics and simpler terminology. The program is one way the company is hoping to increase the number of people who read plan documents, and in turn, increase the fundamental understanding by participants of how these plans work.
Research has shown that while defined contribution plan participants want access to target date funds for retirement savings, they do not understand some of the most basic components of how target date funds work, said Catherine Peterson, director of retirement insights at J.P. Morgan Asset Management in a statement. Given the growing importance of target date funds in plans, we developed this program to specifically address identified participant knowledge gaps.
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