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Northern Trust Retirement Consulting Sends Employees Back to School
CHICAGO, -- Northern Trust Retirement Consulting, L.L.C. (NTRC), a wholly owned subsidiary of Northern Trust Corporation (Nasdaq: NTRS), is calling school into session with the successful rollout of new web-based education and planning tools. These tools are the latest update in optional features available on Northern Trust Retirement Passport(sm), a transactional service that provides Internet access to over two million 401(k) and defined benefit plan participants. The education and planning tools empower employees to make educated planning and investment decisions.
"In every employee focus group we conduct, the common theme is education," said Sandra Gritz, Senior Communications Consultant for Northern Trust Retirement Consulting. "Employees recognize that they need more education to help them make planning and investment decisions. They're hungry for this information."
Developed with Business Logic, NTRC's partner in web development, the education and planning tools are a series of interactive modules: Quick Balance, Asset Allocation, Retirement Planning, and College Planning.
Quick Balance is a calculator that allows employees to approximate the future value of their retirement savings. Asset Allocation includes a risk questionnaire and profile, with the ultimate goal of educating employees about risk and return and asset allocation. The Retirement Planner allows employees to analyze potential income and savings balances during retirement, focusing on goal and forecast results. Finally, the College Planner gives employees the opportunity to review annual savings required to cover future college expenses.
The education and planning modules are now available through Retirement Passport. "Northern Trust Retirement Consulting has definitely made the grade in its recognition of education and planning as key elements to successful investment decisions," said Gritz. "Employees will ultimately reap the benefits of this technology."