Mercer, the global benefits administrator, announced Monday that it has launched an online retirement planning website called My Retirement Workshop designed to help 401(k) participants “fix” their retirement plans.
The workshop, which Mercer set up for employees whose 401(k) plans it administers, addresses key findings from the 2011 Mercer Workplace Survey, which Mercer says revealed that employees were feeling more personally accountable for their own retirement.
Dave Tolve, retirement business leader for Mercer’s U.S. Outsourcing business, said in a statement that “Typically, we’ve found that a pessimistic economic outlook among 401(k) participants leads them to ignore and often retreat from retirement planning.” However, Mercer’s most recent survey results revealed “the opposite,” he said.
“Employees seemed to be more motivated to make positive changes and take on more personal responsibility for their future financial security. My Retirement Workshop was designed to respond to this shift in attitude with helpful, action-oriented content that will give participants the tools to continuously improve their chances of a successful retirement.”
Mercer says the online workshop consists of four main features:
- A brief self-assessment tool that provides personalized feedback and a recommended action plan
- A selection of hands-on projects that address common retirement planning challenges
- A toolbox of helpful calculators, worksheets and widgets
- An opportunity to “learn from the pros” by watching videos, listening to podcasts and/or reading articles. The site also allows visitors to interact with peers through discussion boards and quick polls and to share the site through various social media websites.