Email FacebookTwitterMenu burgerClose thin

Nearing Retirement? This New 401(k) Program Provides Hands-on Investment Management


Long-term financial planning can be difficult, and while new automatic enrollment and contribution escalation make it easier than before to save for retirement, actually reaching retirement can be even more stressful. Switching from saving mode to the active retirement phase not only requires a shift in mindset but a change in how you manage your finances.

Investment advisor Edelman Financial Engines have a new product aimed at helping savers transition through that major life event. Here’s how this new program could help.

A financial advisor could help you save for retirement and select investments that align with your financial goals. Find a qualified advisor today.

Edelman Launches New Retirement Income Program for 401(k) Participants

As the largest independent U.S. investment advisory, Edelman has recently launched a new program aimed at helping retirement plan participants through their transition into retirement. Called the Income Beyond Retirement (IBR) program, it combines portfolio management with financial advisor support to create flexible retirement income plans and strategies to support employees as they retire.

“Transitioning into retirement can be an anxious time of life, and our Income Beyond Retirement solution helps solve a complex challenge while simplifying what employees need to do each step of the way – and providing near-retirees with peace of mind,” said Edelman Senior Vice President Stephen Rubino.

IBR offers near-retirees aged 55 and up a Retirement Checkup with a financial advisor, and together they develop a tailored retirement plan. The approach is holistic and focuses on critical retirement decisions, such as when to claim Social Security benefits and evaluating income streams.

Program participants can also expect an integrated digital experience that allows near-retirees to assess their after-tax spending capability in multiple scenarios. IBR’s income-planning and scenario analysis can help participants navigate market uncertainty, sequence of returns, interest rates, inflation and even longevity uncertainty.

How Retirement Savers Can Take Advantage

SmartAsset: Nearing Retirement? This New 401(k) Program Provides Hands-on Investment Management

The firm has already begun offering the program to multiple Fortune 500 companies, notably Boeing, Lenovo and Equifax. Currently IBR is live with its direct provider partners and will roll out to all plan sponsor partners soon.

However, given that Edelman’s Income Beyond Retirement program is currently available only to a select group of 401(k) plan participants, savers approaching retirement might not realize how such an integrated offering can benefit them. Boiled down to its essence, IBR is a one-stop shop for near-retirees, rolling together a financial planning service with ongoing retirement income optimization.

Even if your 401(k) sponsor doesn’t offer the program, you can reap similar advantages. While part of the program’s ongoing benefit stems from its suite of online resources, much of the planning starts with a financial consultation. Retirement savers can speak with an expert at any stage, but those nearing retirement can especially benefit from advisor analysis.

IBR aims to optimize retirement income, and near-retirees should focus on shifting their assets to an allocation that matches their risk tolerance and changing time horizon. Consultation with an expert can help pinpoint potential and current in-retirement income sources, integrate withdrawals from all household accounts, both tax-deferred and taxable, and take into account future plans. That said, savvy investors can certainly DIY their retirement plans, but complex situations may require additional help.

Bottom Line

SmartAsset: Nearing Retirement? This New 401(k) Program Provides Hands-on Investment Management

Financial advisory firm Edelman Financial Engines has recently launched a new retirement income program aimed at helping 401(k) plan participants transition into retirement. A combination of digital experience and financial consultation, the Income Beyond Retirement program has already been rolled out to major partners and will continue to expand availability over the coming months. While not accessible to everyone, retirement savers can benefit from similarly consulting an expert as they approach retirement in order to optimize their retirement income and later-life planning.

Retirement Planning Tips

  • Not sure if you have enough saved for a smooth retirement? For a solid, long-term financial plan, consider speaking with a qualified financial advisor. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • Use SmartAsset’s free retirement calculator to get a good first estimate of how much money you’ll need to retire.

Don’t miss out on news that could impact your finances. Get news and tips to make smarter financial decisions with SmartAsset’s semi-weekly email. It’s 100% free and you can unsubscribe at any time. Sign up today.

For important disclosures regarding SmartAsset, please click here.

Photo credit: ©, © Samuel Tolentino Pineda, ©